West Virginia State Treasurer

West Virginia State Treasurer
Post	State Treasurer of West Virginia
Body	West Virginia
Incumbentsince	2021
Seat	Charleston, West Virginia
Formation	1863
Inaugural	Peter G. Van Winkle

West Virginia State Treasurer is an elected constitutional officer in West Virginia responsible for managing state funds, receipts, and investments. The treasurer administers cash flow, debt service, and certain public programs coordinated with agencies such as the West Virginia Department of Revenue, West Virginia Legislature, and the Governor of West Virginia. The office interacts with financial institutions including the Federal Reserve Bank of Richmond, municipal entities like the City of Charleston, West Virginia, and national organizations such as the National Association of State Treasurers.

Role and Responsibilities

The treasurer serves as custodian of public money under the authority of the Constitution of West Virginia and state statutes enacted by the West Virginia Legislature. Responsibilities include receiving revenues from agencies such as the West Virginia Secretary of State and the West Virginia Division of Motor Vehicles, investing idle funds in instruments like those overseen by the Securities and Exchange Commission and reporting to bodies including the Joint Committee on Government and Finance (West Virginia). The office cooperates with the West Virginia Auditor on internal control matters and with the United States Department of the Treasury on federal transfers.

History of the Office

Established after separation from Virginia (U.S. state) during the American Civil War, the treasurer's office began with figures tied to Reconstruction-era politics including Peter G. Van Winkle. Twentieth-century holders engaged with national trends such as the Great Depression and New Deal programs administered by agencies like the Works Progress Administration. During the postwar period interactions included federally insured banking regulated by the Federal Deposit Insurance Corporation and municipal finance following decisions influenced by the United States Supreme Court. Late-century reforms paralleled standards from the Government Accountability Office and guidance from the National Association of State Auditors, Comptrollers and Treasurers.

Election and Term

The treasurer is elected statewide in partisan elections held concurrently with gubernatorial and legislative contests administered by the West Virginia Secretary of State. Candidates typically emerge from parties such as the Democratic Party (United States) and the Republican Party (United States), and have pursued endorsements from figures including pastGovernor of West Virginias and members of the United States Congress representing West Virginia. Terms, qualifications, and succession are governed by provisions of the Constitution of West Virginia and statutes codified by the West Virginia Legislature.

Powers and Duties

Statutory powers include custody of state funds under codes enacted by the West Virginia Legislature, investment authority subject to policies informed by standards from the Government Finance Officers Association, and administration of programs like unclaimed property consistent with the Uniform Unclaimed Property Act. The treasurer issues debt service payments interacting with bond counsel from firms appearing before the Securities and Exchange Commission and coordinates cash management with the Federal Reserve Bank of Richmond and fiscal agents used by the West Virginia Housing Development Fund. The office enforces compliance with audits performed by the Auditor of Public Accounts (West Virginia) and reports to legislative committees including the Joint Committee on Government and Finance (West Virginia).

Office Organization and Staff

The treasurer manages divisions such as Cash Management, Investment, Unclaimed Property, and Compliance, employing professionals with credentials from organizations like the Certified Treasury Professional program, the Government Finance Officers Association, and training through the National Association of State Treasurers. Staff interact routinely with agencies including the West Virginia Department of Administration, the West Virginia State Treasurer's Office’s counterpart entities at the federal level like the United States Department of the Treasury, and regional partners such as the Appalachian Regional Commission. Administrative offices are based in Charleston, West Virginia and support outreach to counties including Kanawha County, West Virginia, Monongalia County, West Virginia, and Berkeley County, West Virginia.

Notable Treasurers and Events

Notable treasurers include early officeholders tied to Civil War politics such as Peter G. Van Winkle and later figures active during major fiscal events like the Great Depression and the 2008 financial crisis, when state fiscal officers coordinated with the Federal Reserve and the United States Department of the Treasury. Treasurers have interacted with national entities including the Securities and Exchange Commission, the Government Accountability Office, and the National Association of State Treasurers during reforms and controversies involving investment practices and unclaimed property audits. High-profile collaborations have occurred with governors such as Earl Ray Tomblin and Jim Justice, federal legislators like Shelley Moore Capito and Joe Manchin, and municipal leaders from Charleston, West Virginia and Huntington, West Virginia.

Category:State constitutional officers of West Virginia Category:West Virginia government officials