The Washington State Treasurer is an elected official in the US

state of Washington Washington (), officially the State of Washington, is a state in the Pacific Northwest region of the Western United States. Named for George Washington—the first U.S. president—the state was formed from the western part of the Washington ...

whose office is established by the Washington State Constitution.

Mike Pellicciotti Michael John Pellicciotti (born July 17, 1978) is an American attorney and politician who has served as the 24th Washington State Treasurer since 2021. He previously served as a Democratic member of the Washington House of Representatives for t ...

is the current Washington State Treasurer, a Democrat who began his term in January 2021. He is charged with a variety of responsibilities related to the fiscal management of state government.

Powers and duties

In Washington, the State Treasurer is the state's chief banker, financier, and investor. The State Treasurer is responsible for managing the state's cash assets and local government investments which, as of 2020, totaled $350 billion. The State Treasurer is also responsible for issuing and servicing the state's $21.4 billion outstanding debt and other financial obligations. As one of 15 members on the Washington State Investment Board, the State Treasurer also directs and supervises the investment of public pension and retirement funds. The State Treasurer is third (behind the

Lieutenant Governor A lieutenant governor, lieutenant-governor, or vice governor is a high officer of state, whose precise role and rank vary by jurisdiction. Often a lieutenant governor is the deputy, or lieutenant, to or ranked under a governor — a "second-in-comm ...

and Secretary of State, respectively) in the

line of succession An order of succession or right of succession is the line of individuals necessitated to hold a high office when it becomes vacated such as head of state or an honour such as a title of nobility.Governor of Washington The governor of Washington is the head of government of Washington and commander-in-chief of the state's military forces.WA Const. art. III, § 2. The officeholder has a duty to enforce state laws,WA Const. art. III, § 5. the power to either a ...

Most of the Treasurer's specific responsibilities are set-forth in the

Revised Code of Washington The Revised Code of Washington (RCW) is the compilation of all permanent laws currently in force in the U.S. state of Washington. Temporary laws such as appropriations acts are excluded. It is published by the Washington State Statute Law Committ ...

. Though the office was established by the Washington constitution, that document only provides that "the treasurer shall perform such duties as shall be prescribed by law," a provision similar to the earlier enacted constitution of the neighboring state of

Oregon Oregon () is a U.S. state, state in the Pacific Northwest region of the Western United States. The Columbia River delineates much of Oregon's northern boundary with Washington (state), Washington, while the Snake River delineates much of it ...

. The constitution originally directed that the Treasurer would be paid a salary of $2,000, though constitutional limits on officeholder salaries have since been repealed by amendment and are now set by statute.

Election and office

The Treasurer is elected every four years on a partisan ballot; any registered voter in the state of Washington is eligible to stand for election. The Washington State Constitution requires that, upon assuming office, the Treasurer establish residence in the state's capital city of Olympia. State law further requires he post a

surety bond In finance, a surety , surety bond or guaranty involves a promise by one party to assume responsibility for the debt obligation of a borrower if that borrower defaults. Usually, a surety bond or surety is a promise by a surety or guarantor to pay ...

of $500,000, approved by both the Washington Secretary of State and the Chief Justice of the

Washington Supreme Court The Washington Supreme Court is the highest court in the judiciary of the U.S. state of Washington. The court is composed of a chief justice and eight associate justices. Members of the court are elected to six-year terms. Justices must retire ...

. The Treasurer's office is located in the

Washington State Capitol The Washington State Capitol or ''Legislative Building'' in Olympia is the home of the government of the state of Washington. It contains chambers for the Washington State Legislature and offices for the governor, lieutenant governor, secretary ...

List of Washington Treasurers

The State of Washington has had a total of 22 Treasurers, 2 of whom (Otto A. Case and Tom Martin) served non-consecutive terms. Otto A. Case also served as Commissioner of Public Lands from 1945 to 1949 and 1953–1957.

References

{{Government of Washington *

Powers and duties

Election and office

List of Washington Treasurers

See also

References