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South Carolina Treasurer

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Treasurer of South Carolina
Incumbent
Curtis Loftis
since January 12, 2011
Member ofState Fiscal Accountability Authority
SeatColumbia, South Carolina
Wade Hampton Building
1200 Senate Street, 5th Floor
AppointerGeneral election
Term lengthFour years, no limit
Constituting instrumentArticle VI, Section 7, South Carolina Constitution
SalaryUS$164,000 annually[1]
WebsiteOfficial website

The state treasurer of South Carolina is a constitutional officer in the executive branch of the U.S. state of South Carolina. Twenty one individuals have held the office of state treasurer since it became an elective position in 1865. The incumbent is Curtis Loftis, a Republican.

Powers and duties

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The state treasurer is the chief banker and investment officer of the state of South Carolina.[2][3] As such, the state treasurer manages the cash flows and investments of all state funds and, in so doing, safeguards their assets. In 2022, the state treasury's custodial fund balances were approximately $2.8 billion.[4][a] Moreover, the state treasurer administers unclaimed property and manages the state's debt.[6][7] The Office of the State Treasurer also provides certain services to South Carolina residents, including its college and ABLE savings programs.[8][9]

Aside from their functional responsibilities, the state treasurer is a member of the State Fiscal Accountability Authority (SFAA), an independent agency which also includes the governor, the comptroller general, and the chairs of the budget committees in the General Assembly.[10] The SFAA is generally charged with oversight of state spending and management of state property.[11][12] In particular, the SFAA acquires insurance for state agencies and local governments, procures goods and services for the operations of state government, and oversees the construction and maintenance of state buildings.[13][14] In addition, the SFAA appoints South Carolina's state auditor to serve at pleasure.[15][b]

List of treasurers

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Since 1865, the state treasurer has been elected at-large and serves a term of four years.

List of treasurers of South Carolina
Image Treasurer[19] Party Term of office
William Hood   Republican 1865–1866
S. L. Leaphart   Republican 1866–1876
Niles G. Parker   Republican 1868–1872
Francis Lewis Cardozo   Republican 1872–1877
S. L. Leaphart   Democratic 1877–1881
J. P. Richardson   Democratic 1881–1887
I. S. Bamberg   Democratic 1887–1889
E. R. McIver   Democratic 1889–1891
W. T. C. Bates   Democratic 1891–1897
W. H. Timmerman   Democratic 1897–1901
R. H. Jennings   Democratic 1901–1913
S. T. Carter   Democratic 1913–1925
Julian Haskell Scarborough   Democratic 1926–1934
E.P. Miller   Democratic 1934–1940
Jefferson Bates   Democratic January 10, 1940 – August 17, 1966[20]
(Died)
Grady Patterson   Democratic January 17, 1966 – January 11, 1995
(Lost reelection)
Richard Eckstrom   Republican January 11, 1995 – January 11, 1999
(Lost reelection)
Grady Patterson   Democratic January 11, 1999 – January 3, 2007
(Lost reelection)
Thomas Ravenel   Republican January 3, 2007 – July 24, 2007
(Resigned)
Converse Chellis   Republican August 3, 2007 – January 12, 2011[21]
(Lost nomination)[22]
Curtis Loftis   Republican January 11, 2011 – incumbent

Notes

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  1. ^ For comparison, the state of South Carolina spent over $34 billion in the same fiscal year.[5]
  2. ^ The state auditor is a statutory official that functions as the external auditor of state government.[16][17][18]

References

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  1. ^ "State Salaries Query for Curtis Loftis". South Carolina Department of Administration. Retrieved October 22, 2023.
  2. ^ South Carolina Legislative Council. "Title 11, Chapter 5, South Carolina Code of Laws". South Carolina Legislature. Retrieved October 22, 2023.
  3. ^ "Our Responsibilities". treasurer.sc.gov. Retrieved February 23, 2023.
  4. ^ "Audited Financial Statements of the Office of the State Treasurer For the Year Ended June 30, 2022" (PDF). South Carolina Office of the State Treasurer. December 15, 2022. Retrieved October 22, 2023.
  5. ^ "What is the total amount of South Carolina's state budget?". www.admin.sc.gov. Department of Administration.
  6. ^ "Unclaimed Property Program". South Carolina Office of the State Treasurer. Retrieved October 22, 2023.
  7. ^ "Bond and Debt Information". South Carolina Office of the State Treasurer. Retrieved October 22, 2023.
  8. ^ "College Savings Programs". South Carolina Office of the State Treasurer. Retrieved October 22, 2023.
  9. ^ "Palmetto ABLE Savings Program". South Carolina Office of the State Treasurer. Retrieved October 22, 2023.
  10. ^ South Carolina Legislative Council. "Title 11, Chapter 55, South Carolina Code of Laws". South Carolina Legislature. Retrieved October 22, 2023.
  11. ^ Bustos, Joseph (April 2, 2023). "SC has 1 requirement to be comptroller general: Be a voter. Will $3.5B blunder change that?". The State. Retrieved July 4, 2023.
  12. ^ "About Us". South Carolina Fiscal Accountability Authority. Retrieved October 22, 2023.
  13. ^ "About Us". South Carolina Insurance Reserve Fund. Retrieved September 1, 2022.
  14. ^ "About Us". South Carolina Division of Procurement Services. Retrieved September 1, 2022.
  15. ^ South Carolina Legislative Council. "Section 11-7-10, South Carolina Code of Laws". South Carolina Legislature. Retrieved October 22, 2023.
  16. ^ "South Carolina State Auditor". Ballotpedia. Retrieved September 8, 2022.
  17. ^ "About". South Carolina Office of the State Auditor. Retrieved October 22, 2023.
  18. ^ South Carolina Legislative Council. "Title 11, Chapter 7, South Carolian Code of Laws". South Carolina Legislature. Retrieved October 22, 2023.
  19. ^ "South Carolina State Government". carolana.com. Retrieved January 14, 2023.
  20. ^ "Bates, Jefferson Blakely (1896-1966)". PoliticalGraveyard.com. Retrieved January 14, 2023.
  21. ^ Wenger, Yvonne. "Gloves come off as Chellis voted in". Post and Courrier. Retrieved January 14, 2023.
  22. ^ "2010 Republican and Democratic Primary". scvotes.org. South Carolina Election Commission. Retrieved January 14, 2023.
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