Massachusetts State Treasurer

Massachusetts State Treasurer is a constitutional officer and the chief financial officer of the Commonwealth of Massachusetts. The office, formally titled the Treasurer and Receiver-General, is responsible for managing the state's cash, debt, and investments. The treasurer serves on the Governor's Council and oversees several key agencies, including the Massachusetts State Lottery and the Massachusetts School Building Authority. The current treasurer is Deborah B. Goldberg, a Democrat first elected in 2014.

History

The office of Treasurer and Receiver-General was established by the Constitution of Massachusetts in 1780, succeeding the colonial post of Treasurer of the Province of Massachusetts Bay. Early treasurers like Henry Gardner played critical roles in managing the state's finances following the American Revolutionary War. Throughout the 19th century, the office's duties expanded with the growth of state infrastructure projects and banking. In the 20th century, the creation of the Massachusetts State Lottery in 1971 under Treasurer Robert Q. Crane and the Massachusetts Clean Water Trust significantly broadened the treasurer's operational scope. The Alcoholic Beverages Control Commission and the Massachusetts State Retirement Board also became key components of the treasury's purview over time.

Duties and responsibilities

The treasurer's core duties include the management of the state's cash flow, the issuance of general obligation bonds, and the oversight of the Massachusetts Pension Reserves Investment Management Board. The office chairs the Massachusetts School Building Authority, which funds public school construction projects across the state. The treasurer also serves as a trustee for the Massachusetts Clean Water Trust and the Massachusetts Water Pollution Abatement Trust. Additional responsibilities include supervising the Massachusetts State Lottery, the Alcoholic Beverages Control Commission, and the Unclaimed Property Division. The office works closely with the Executive Office for Administration and Finance and the Massachusetts Department of Revenue on fiscal matters.

List of treasurers

Since the constitution's adoption, the position has been held by numerous individuals, often leading to higher office. Notable treasurers include Benjamin Franklin Butler, who later became Governor of Massachusetts and a Congressman, and Shannon O'Brien, the first woman elected to the position. Other prominent figures include Timothy P. Cahill, who served as Treasurer from 2003 to 2011, and Steven Grossman, who also chaired the Democratic National Committee. The current treasurer, Deborah B. Goldberg, previously served as a member of the Brookline Board of Selectmen.

Office and organization

The office is formally known as the Massachusetts Office of the State Treasurer and Receiver-General and is headquartered in Boston. Major operational divisions include the Cash Management Division, the Debt Management Department, and the Bureau of the State House. The treasurer directly oversees several independent authorities, including the Massachusetts State Lottery Commission, the Alcoholic Beverages Control Commission, and the Massachusetts School Building Authority. The office also administers the Massachusetts State Retirement Board and the Unclaimed Property Division, often partnering with the Massachusetts Treasury Division.

Election and succession

The Treasurer and Receiver-General is elected statewide by the voters of Massachusetts for a four-year term, concurrent with the election for Governor of Massachusetts and other constitutional officers. There are no term limits for the position. If the office becomes vacant, the Massachusetts General Court, acting through a joint session, elects a successor to serve for the remainder of the term. Candidates for the office are nominated through party primaries administered by the Massachusetts Secretary of the Commonwealth. The treasurer, like the Massachusetts Attorney General and Massachusetts State Auditor, serves as a member of the Governor's Council.

Category:Massachusetts constitutional officers Category:State treasurers of the United States