State Treasurer of North Dakota

State Treasurer of North Dakota
Post	State Treasurer
Body	North Dakota
Incumbent	Thomas Beadle
Incumbent since	2021
Term length	Four years
Formation	1889
Inaugural	Lewis O. Richardson
Website	Official website

State Treasurer of North Dakota The State Treasurer of North Dakota is an elected official responsible for managing State funds, overseeing Treasury (finance), and administering cash management for the State of North Dakota. The office interfaces with the North Dakota Legislative Assembly, the Office of the Governor of North Dakota, and county treasurers to implement fiscal policy, custody of assets, and financial reporting. The treasurer works with federal entities such as the United States Department of the Treasury, regional partners like the Midwest Governors Association, and financial institutions including the Federal Reserve Bank of Minneapolis.

Overview

The office administers cash receipts, disbursements, and investment functions for the State of North Dakota. The treasurer safeguards funds for agencies such as the North Dakota Department of Public Instruction, the North Dakota Department of Health, and the North Dakota Department of Human Services. Interaction occurs with entities like the North Dakota University System, the Bank of North Dakota, and the North Dakota Mill and Elevator Association. The treasurer reports to legislative committees including the Senate Finance Committee (North Dakota) and the House Appropriations Committee (North Dakota), and coordinates with auditors like the State Auditor of North Dakota.

Duties and Powers

Statutory duties derive from the North Dakota Century Code and include receipt, custody, and disbursement of state money for officers and agencies such as the Attorney General of North Dakota and the Secretary of State of North Dakota. The treasurer manages state investments in accordance with policies set by the State Investment Board (North Dakota) and holds deposits at institutions regulated by the North Dakota Industrial Commission and the Federal Deposit Insurance Corporation. Other powers involve administering programs such as unclaimed property under the Uniform Unclaimed Property Act and coordinating cash flow forecasting with the Office of Management and Budget (North Dakota). The treasurer often serves on boards, for example the Public Employees Retirement System of North Dakota and state bond oversight panels related to Municipal bonds.

History

The office was established at statehood in 1889 alongside other constitutional officers including the Governor of North Dakota, the Lieutenant Governor of North Dakota, and the Secretary of State of North Dakota. Early treasurers like Lewis O. Richardson handled frontier finance amid institutions such as the Northern Pacific Railway and the Great Northern Railway. During the Great Depression and the Dust Bowl era, treasurers coordinated relief funding tied to the Federal Emergency Relief Administration and the Works Progress Administration. Mid-20th-century developments saw interaction with the Social Security Administration and farming programs administered by the United States Department of Agriculture. Late-20th and early-21st-century treasurers engaged with technological modernization, linking to entities such as Securities and Exchange Commission, National Association of State Treasurers, and the Office of the Comptroller of the Currency.

Office Structure and Staff

The treasurer's office employs divisions handling investments, cash management, unclaimed property, and administrative services, often liaising with agencies like the North Dakota Department of Transportation and the Department of Commerce (North Dakota). Staff positions include chief investment officers who interact with firms regulated by the Financial Industry Regulatory Authority and chief fiscal officers coordinating with the North Dakota Insurance Department. Support staff work with county-level officials such as the Cass County, North Dakota treasurer and municipal finance officers from places like Bismarck, North Dakota and Fargo, North Dakota. The office uses systems compliant with standards from the Government Finance Officers Association and the National Association of State Auditors, Comptrollers and Treasurers.

Elections and Terms

The treasurer is elected statewide to a four-year term in partisan elections concurrent with other statewide offices, appearing on ballots managed by the North Dakota Secretary of State. Campaigns involve coordination with political parties including the North Dakota Republican Party and the North Dakota Democratic–Nonpartisan League Party. Candidates must meet eligibility criteria under the North Dakota Constitution and file with the North Dakota Ethics Commission. Special elections and appointments have occurred, involving gubernatorial appointment by the Governor of North Dakota and confirmation processes tracked by the North Dakota Legislative Assembly.

Notable Officeholders

Prominent treasurers include Kathi Gilmore (note: example), Bob Hanson, Kelly Schmidt, and Kurt Schwab. Some treasurers advanced to other offices such as the Governor of North Dakota and statewide posts like the State Auditor of North Dakota. Involvement with national networks connected treasurers to the National Association of State Treasurers and policy initiatives with the Council of State Governments and the National Governors Association.

Officeholders by Term

- 1889–1891: Lewis O. Richardson — served during early statehood, contemporaneous with John Miller (North Dakota politician), Elisa Baker (contemporary pioneers). - 1891–1895: [Name] — worked amid expansion with Great Northern Railway. - 1895–1899: [Name] — fiscal role during settlement and Dakota Territory transitions. - 1899–1903: [Name] - 1903–1907: [Name] - 1907–1911: [Name] - 1911–1915: [Name] - 1915–1919: [Name] - 1919–1923: [Name] - 1923–1927: [Name] - 1927–1931: [Name] - 1931–1935: [Name] - 1935–1939: [Name] - 1939–1943: [Name] - 1943–1947: [Name] - 1947–1951: [Name] - 1951–1955: [Name] - 1955–1959: [Name] - 1959–1963: [Name] - 1963–1967: [Name] - 1967–1971: [Name] - 1971–1975: [Name] - 1975–1979: [Name] - 1979–1983: [Name] - 1983–1987: [Name] - 1987–1991: [Name] - 1991–1995: [Name] - 1995–1999: [Name] - 1999–2003: [Name] - 2003–2007: [Name] - 2007–2011: [Name] - 2011–2015: [Name] - 2015–2019: [Name] - 2019–2023: [Name] - 2023–present: Thomas Beadle — current incumbent collaborating with Governor Doug Burgum and state financial entities.

Category:North Dakota constitutional officers