South Carolina Treasurer

Last updated

Treasurer of South Carolina
Cutris Loftis (cropped).jpg
Incumbent
Curtis Loftis
since January 12, 2011
Member ofState Fiscal Accountability Authority
Seat Columbia, South Carolina
Wade Hampton Building
1200 Senate Street, 5th Floor
AppointerGeneral election
Term length Four years, no limit
Constituting instrument Article VI, Section 7, South Carolina Constitution
SalaryUS$164,000 annually [1]
Website Official website

The state treasurer of South Carolina is a constitutional officer in the executive branch of the U.S. state of South Carolina. Twenty one individuals have held the office of state treasurer since it became an elective position in 1865. The incumbent is Curtis Loftis, a Republican.

Contents

Powers and duties

The state treasurer is the chief banker and investment officer of the state of South Carolina. [2] [3] As such, the state treasurer manages the cash flows and investments of all state funds and, in so doing, safeguards their assets. In 2022, the state treasury's custodial fund balances were approximately $2.8 billion. [4] [lower-alpha 1] Moreover, the state treasurer administers unclaimed property and manages the state's debt. [6] [7] The Office of the State Treasurer also provides certain services to South Carolina residents, including its college and ABLE savings programs. [8] [9]

Aside from their functional responsibilities, the state treasurer is a member of the State Fiscal Accountability Authority (SFAA), an independent agency which also includes the governor, the comptroller general, and the chairs of the budget committees in the General Assembly. [10] The SFAA is generally charged with oversight of state spending and management of state property. [11] [12] In particular, the SFAA acquires insurance for state agencies and local governments, procures goods and services for the operations of state government, and oversees the construction and maintenance of state buildings. [13] [14] In addition, the SFAA appoints South Carolina's state auditor to serve at pleasure. [15] [lower-alpha 2]

List of treasurers

Since 1865, the state treasurer has been elected at-large and serves a term of four years.

List of treasurers of South Carolina
ImageTreasurer [19] PartyTerm of office
William Hood  Republican 1865–1866
S. L. Leaphart  Republican 1866–1876
Niles G. Parker  Republican 1868–1872
Francis Lewis Cardozo.jpg Francis Lewis Cardozo   Republican 1872–1877
S. L. Leaphart  Democratic 1877–1881
J. P. Richardson  Democratic 1881–1887
I. S. Bamberg  Democratic 1887–1889
E. R. McIver  Democratic 1889–1891
W. T. C. Bates  Democratic 1891–1897
W. H. Timmerman  Democratic 1897–1901
R. H. Jennings  Democratic 1901–1913
S. T. Carter  Democratic 1913–1925
Julian Haskell Scarborough  Democratic 1926–1934
E.P. Miller  Democratic 1934–1940
Jefferson Bates  Democratic January 10, 1940 – August 17, 1966 [20]
(Died)
Grady Patterson   Democratic January 17, 1966 – January 11, 1995
(Lost reelection)
Richard and Mrs. Eckstrom and Pamela Evette (cropped).png Richard Eckstrom   Republican January 11, 1995 – January 11, 1999
(Lost reelection)
Grady Patterson   Democratic January 11, 1999 – January 3, 2007
(Lost reelection)
Thomas Ravenel   Republican January 3, 2007 – July 24, 2007
(Resigned)
Converse Chellis   Republican August 3, 2007 – January 12, 2011 [21]
(Lost nomination) [22]
Cutris Loftis (cropped).jpg Curtis Loftis   Republican January 11, 2011 – incumbent

Notes

  1. For comparison, the state of South Carolina spent over $34 billion in the same fiscal year. [5]
  2. The state auditor is a statutory official that functions as the external auditor of state government. [16] [17] [18]

Related Research Articles

<span class="mw-page-title-main">North Carolina State Auditor</span> Auditor of the U.S. state of North Carolina

The State Auditor of North Carolina is a statewide elected office in the U.S. state of North Carolina. The state auditor is a constitutional officer responsible for overseeing and reviewing the financial accounts of all state government agencies. The auditor also conducts performance audits of state agencies, ensures state agencies' accounting conforms with Generally Accepted Accounting Principles, evaluates the integrity of computer-generated information, and investigates the misuse of state funds or property. The incumbent is Jessica Holmes, who became state auditor on Dec. 16, 2023.

<span class="mw-page-title-main">North Carolina State Treasurer</span> North Carolina Elected Official

The North Carolina State Treasurer is a statewide elected office in the U.S. state of North Carolina responsible for overseeing the financial operations of state government. The current state treasurer is Dale Folwell.

<span class="mw-page-title-main">Government of Maryland</span> State government of the United States

The government of Maryland is conducted according to the Maryland Constitution. The United States is a federation; consequently, the government of Maryland, like the other 49 state governments, has exclusive authority over matters that lie entirely within the state's borders, except as limited by the Constitution of the United States.

<span class="mw-page-title-main">Minnesota State Auditor</span> Constitutional officer of Minnesota, United States

The state auditor of Minnesota is a constitutional officer in the executive branch of the U.S. state of Minnesota. Nineteen individuals have held the office of state auditor since statehood. The incumbent is Julie Blaha, a DFLer.

<span class="mw-page-title-main">New York State Comptroller</span> Elected constitutional officer

The New York State Comptroller is an elected constitutional officer of the U.S. state of New York and head of the New York state government's Department of Audit and Control. Sixty-one individuals have held the office of State Comptroller since statehood. The incumbent is Thomas DiNapoli, a Democrat.

<span class="mw-page-title-main">Mike Frerichs</span> American politician

Michael W. Frerichs is an American politician serving his third term as the State Treasurer of Illinois, after taking office on January 12, 2015. Before being elected treasurer, he was a Democratic member of the Illinois Senate, representing the 52nd District from 2007 until 2015. The district, located in Champaign and Vermilion counties, includes all or parts of Champaign, Danville, Georgetown, Gifford, Rantoul, Thomasboro, and Urbana.

<span class="mw-page-title-main">State auditor</span> Executive officer of a U.S. state

State auditors are fiscal officers lodged in the executive or legislative branches of U.S. state governments who serve as external auditors, financial controllers, bookkeepers, or inspectors general of public funds. The office of state auditor may be a creature of the state constitution or one created by statutory law.

<span class="mw-page-title-main">Nevada State Treasurer</span>

The Nevada State Treasurer is an independent constitutional officer in the executive branch of government of the U.S. state of Nevada. The State Treasurer's Office is based in Carson City, Nevada. Twenty-three individuals have occupied the office of treasurer since statehood. The incumbent is Zach Conine, a Democrat. He was first elected in the 2010 election and is currently serving his second term in office.

<span class="mw-page-title-main">Illinois Comptroller</span> U.S. state constitutional officer position

The Comptroller of Illinois is a constitutional officer in the executive branch of government of the U.S. state of Illinois. Ten individuals have held the office of Comptroller since the enactment of the Illinois Constitution of 1970, replacing the prior office of Auditor of Public Accounts that was first created in 1799. The incumbent is Susana Mendoza, a Democrat.

This article delineates the age of candidacy laws of the federal government and individual states of the United States. The US has historically had minimum age requirements for many positions, ranging from President to local members of city council. While there is no maximum age limit or point of forced retirement - other countries like Canada enforce retirement ages on judges and senators - there are term limits in some cases, most notably a limit of 2 full terms for the President of the United States.

<span class="mw-page-title-main">Arkansas State Auditor</span> Executive accountant for Arkansas, U.S.

The Arkansas State Auditor is a constitutional officer within the executive branch of the U.S. state of Arkansas. Thirty-five individuals have occupied the office of state auditor since statehood. The incumbent is Dennis Milligan, a Republican who took office in 2023.

Texas State Treasurer was an elected constitutional officer in the executive branch of the state government of Texas, responsible for overseeing the financial operations of state government. The position was established in the Constitution of 1876. It was abolished in 1996.

<span class="mw-page-title-main">2010 South Carolina elections</span>

Elections were held in South Carolina on Tuesday, November 2, 2010. Primary elections were held on June 8, 2010, and a run-off election for certain contests was held on June 22, 2010.

<span class="mw-page-title-main">Curtis Loftis</span> American politician

Curtis M. Loftis Jr. is an American politician, businessman and philanthropist. He currently serves as the Treasurer of South Carolina. A member of the Republican Party, Loftis has held elective office since 2010.

David H. Lillard Jr. is an American lawyer, politician and government official. A Republican, he serves as the state treasurer for the state of Tennessee.

Texas Tax Code Chapter 313 creates a state tax incentive program for certain large businesses to limit the appraised value of their property for the purposes of local Texas public school district property taxes.

<span class="mw-page-title-main">West Virginia State Auditor</span>

The state auditor of West Virginia is an elected constitutional officer in the executive branch of the U.S. state of West Virginia. The incumbent is JB McCuskey, a Republican.

<span class="mw-page-title-main">South Carolina Comptroller General</span> Constitutional officer

The comptroller general of South Carolina is a constitutional officer in the executive branch of the U.S. state of South Carolina. Forty individuals have held the office of comptroller general since 1800. The office has been held by Brian J. Gaines since May 12, 2023, who was appointed by Governor Henry McMaster as a recess appointment following the resignation of Richard Eckstrom on April 30, 2023. McMaster appointed Gaines to avoid a constitutional crisis; since the office was vacant, no person could authorize the distribution of funds.

This local electoral calendar for 2022 lists the subnational elections held in 2022. Referendums, recall and retention elections, and national by-elections are also included.

The Government of the U.S. State of Nebraska, established by the Nebraska Constitution, is a republican democracy modeled after the Federal Government of the United States. The state government has three branches: the executive, the legislative, and the judicial. Through a system of separation of powers, or "checks and balances," each of these branches has some authority to act on its own, and also some authority to regulate the other two branches, so that all three branches can limit and balance the others' authority. The State Government is based in Lincoln, the capital city of Nebraska.

References

  1. "State Salaries Query for Curtis Loftis". South Carolina Department of Administration. Retrieved October 22, 2023.
  2. South Carolina Legislative Council. "Title 11, Chapter 5, South Carolina Code of Laws". South Carolina Legislature. Retrieved October 22, 2023.
  3. "Our Responsibilities". treasurer.sc.gov. Retrieved February 23, 2023.
  4. "Audited Financial Statements of the Office of the State Treasurer For the Year Ended June 30, 2022" (PDF). South Carolina Office of the State Treasurer. December 15, 2022. Retrieved October 22, 2023.
  5. "What is the total amount of South Carolina's state budget?". www.admin.sc.gov. Department of Administration.
  6. "Unclaimed Property Program". South Carolina Office of the State Treasurer. Retrieved October 22, 2023.
  7. "Bond and Debt Information". South Carolina Office of the State Treasurer. Retrieved October 22, 2023.
  8. "College Savings Programs". South Carolina Office of the State Treasurer. Retrieved October 22, 2023.
  9. "Palmetto ABLE Savings Program". South Carolina Office of the State Treasurer. Retrieved October 22, 2023.
  10. South Carolina Legislative Council. "Title 11, Chapter 55, South Carolina Code of Laws". South Carolina Legislature. Retrieved October 22, 2023.
  11. Bustos, Joseph (April 2, 2023). "SC has 1 requirement to be comptroller general: Be a voter. Will $3.5B blunder change that?". The State . Retrieved July 4, 2023.
  12. "About Us". South Carolina Fiscal Accountability Authority. Retrieved October 22, 2023.
  13. "About Us". South Carolina Insurance Reserve Fund. Retrieved September 1, 2022.
  14. "About Us". South Carolina Division of Procurement Services. Retrieved September 1, 2022.
  15. South Carolina Legislative Council. "Section 11-7-10, South Carolina Code of Laws". South Carolina Legislature. Retrieved October 22, 2023.
  16. "South Carolina State Auditor". Ballotpedia. Retrieved September 8, 2022.
  17. "About". South Carolina Office of the State Auditor. Retrieved October 22, 2023.
  18. South Carolina Legislative Council. "Title 11, Chapter 7, South Carolian Code of Laws". South Carolina Legislature. Retrieved October 22, 2023.
  19. "South Carolina State Government". carolana.com. Retrieved January 14, 2023.
  20. "Bates, Jefferson Blakely (1896-1966)". PoliticalGraveyard.com. Retrieved January 14, 2023.
  21. Wenger, Yvonne. "Gloves come off as Chellis voted in". Post and Courrier. Retrieved January 14, 2023.
  22. "2010 Republican and Democratic Primary". scvotes.org. South Carolina Election Commission. Retrieved January 14, 2023.