The State Treasurer is one of six statewide elected officials, serves a term of four years and is third in line in succession to the Governor. A person may only serve as State Treasurer for two terms. The Treasurer’s Office:
- Manages Arizona’s $12 billion investment portfolio
- Protects taxpayer money
- Directs the state’s banking services
The State Treasurer serves as Chairman of Arizona’s State Board of Investment, and State Loan Commission. He also serves as the State’s Surveyor General and is a member of the State Land Selection Board.
The State Treasurer serves as Arizona’s Chief Banker and Investment Officer. While not a bank itself, the Treasurer’s Office must authorize payments and balance accounts. To protect taxpayers’ money, the State Treasurer maintains a separate accounting system to provide a check and balance on the state accounting system, and distributes investment earnings to the proper funds. The office contracts with Arizona banks to process the state’s receipts and disbursements; handle money and security transfers; report on the state’s accounts, balances and payment activities; and provide related banking services such as data processing.
Bidding for state banking services contracts is open to all qualified Arizona banks. Bank of America is the current servicing bank for the Office of the Arizona State Treasurer. For state agency locations that are not in the proximity of a state servicing bank branch, the Treasurer’s Office also maintains a working relationship with Bank of the West, JPMorgan Chase, National Bank of Arizona, Wells Fargo, and Zions Bank.
My staff and I are dedicated to safeguarding the hard earned tax dollars of our citizens. Our primary goal is the safety of your tax dollar through prudent custody and management of funds. We will provide the most effective and efficient services with full transparency and financial clarity.