Nov 08, 2016
Feb 17, 2016 - Aug 01, 2016
The Treasurer of the State of Pennsylvania is an elected, executive level position within the Pennsylvania state government. The treasurer is the chief financial officer of the government, responsible for managing the commonwealth's money and serving as Pennsylvania's banker. The "paramount duty" of the Pennsylvania Treasurer is to safeguard the Commonwealth's financial assets, which total more than $120 billion of public monies. The office manages several programs in order to better serve the financial needs of Pennsylvanians. The Better Choice Program provides a less costly alternative to traditional payday lenders, while the 529 College Savings Program eases the burden of paying for college. The INVEST program provides flexible and secure investing for local governments and non profit organizations, offering investment pools for both long- and short-term needs. The Treasury Department is also responsible for: reuniting unclaimed property with its rightful owner; investigating loss, theft, and fraud involving commonwealth checks; reviewing real estate leases and contracts entered into by commonwealth agencies; maintaining the Pennsylvania contracts electronic library. The treasurer has specific duties in addition to the oversight of the department: serves as Chair of the Board of Finance and Revenue, which selects banks to serve as depositories for state money; sets interest rates paid on commonwealth deposits; hears and decides state tax appeals. The salary for this position is $156,264/year.