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June 2012
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GOP seeks to eliminate state treasurer's office

By RAE HODGE Associated Press

FRANKFORT - Targeting a Democratic stronghold, the Republican-controlled Kentucky Senate wants to send voters a constitutional amendment to abolish the position of state treasurer, a job that has existed since its creation in the state constitution in 1792.

Whether voters get to decide the office's fate could depend on how attached to the office the state's top Democrats feel. Though Gov. Steve Beshear doesn't see the issue making it through the General Assembly, House Speaker Greg Stumbo doesn't sound at all inclined to keep that from happening.

"They don't do anything except sign checks," said Stumbo, D-Prestonburg, said of the treasurer's office.

In Fiscal Year 2013, the state treasury printed and dispersed 3.1 million paper checks, totaling more than $8.2 billion in receipts. The treasurer is also responsible for managing $27 billion in federal electronic wire transfers annually, tracking court-ordered withholdings and garnishments for state employees, filing taxes for state government, and reconciling 26 central bank accounts in order to maintain the state's credit rating nationally.

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