Indiana State Treasurer

Treasurer of Indiana
Seal of Indiana
Incumbent Dan Elliott since January 9, 2023
Term length	4 years
Inaugural holder	Daniel Crosby Lane November 7, 1816
Formation	Indiana Constitution 1816
Salary	$145,876 [1]
Website	http://www.in.gov/tos/

The Indiana Treasurer of State is a constitutional and elected office in the executive branch of the government of Indiana. The treasurer is responsible for managing the finances of the U.S. state of Indiana. The position was filled by appointment from 1816 until the adoption of the new Constitution of Indiana in 1851, which made the position filled by election. As of 2023, there have been fifty-five treasurers. The incumbent is Republican Dan Elliott who has served in the position since January 9, 2023.

Term limits and qualification

The Indiana State Treasurer is a constitutional office first established in the 1816 Constitution of Indiana, and was made largely to mirror the position of the treasurer during Indiana's territorial period. Between 1816 and until 1851, the treasurer was nominated by the governor and confirmed by the state senate. With adoption of the current constitution in 1851 the treasurer's office was filled by a public statewide election every four years. ^[2]

Treasurers take office on February 10 following their election and hold office for four years. Should they resign, be impeached, or die in office the governor has the power to appoint a temporary treasurer to serve until the next general election. The new treasurer, either appointed to elected may only complete the term of the previous treasurer, not serve a new four-year term. A treasurer may be elected to consecutive terms, but may serve no more than eight years in any twelve-year period. ^[2]

Powers

The treasurer's powers are both constitutional and statutory. The treasurer's constitutional powers make him the chief financial officer of the state government and give him control over all of the state's financial assets. Because the state operates with a large reserve fund, this gives the treasurer control over a large amount of money. In 2007, the total state portfolio was valued at over $5 billion. ^[2] The treasurer is permitted to invest the funds several different ways, including investments in United States Treasury securities, certificates of deposit, repurchase agreements, and money market mutual funds. ^[2]

The Indiana General Assembly has assigned the treasurer additional statutory power and made him a member of the state Board of Finance, Indiana Finance Authority, Indiana Transportation Finance Authority, State Office Building Commission, Recreational Development Commission, Indiana Grain Indemnity Fund Board, Indiana Underground Storage Tank Financial Assurance Board, and the Indiana Heritage Trust Committee. Additionally, the treasurer is the vice-chairman of the Indiana Housing Finance Authority and the Indiana State Police Pension Fund. As a member of these boards, the treasurer has a wide range of influence on the state's financial management. ^[2]

The treasurer is also the head of several of the most important state financial organizations. The treasurer is chairman of the Indiana Bond Bank, a state controlled bank that provides financing to municipal government to allow for large infrastructure investments. The bank then sells the debts as secured bonds on the national market. This allows local governments to secure credit a low rate of interest. The treasurer is also the chairman of the Indiana Education Savings Authority which manages savings accounts for college educations. The treasurer chairs the Public Deposit Insurance Fund and the Board for Depositories that insures the deposits of municipal governments in the state, much as the Federal Deposit Insurance Corporation insures private accounts, except without limiting the amount of the insurance. ^[3] The Indiana Institute for Public Funds Management is private organization that was developed to provide financial education for municipal government leaders. The treasurer is designated by the organization its chairman. ^[4]

List of treasurers

   Democratic-Republican    Democratic    Whig    Republican

Territorial treasurers

#	Name	Took office	Left office	Party	Hometown	Notes
1	Davis Floyd	1814	1816	Democratic-Republican	Corydon, Indiana

State treasurers

#	Image	Name	Took office	Left office	Party	Hometown	Notes
1		Daniel Crosby Lane	November 16, 1816	December 28, 1822	Democratic-Republican	Harrison County, Indiana
2		Samuel Merrill	December 28, 1822	February 13, 1834	Whig	Corydon & Indianapolis, Indiana
3		Nathan B. Palmer	February 13, 1834	February 9, 1841	Democratic	Jefferson County, Indiana
4		George H. Dunn	February 9, 1841	February 9, 1844	Whig	Jefferson County, Indiana
5		Royal Mayhew	February 9, 1844	February 9, 1847	Democratic	Lawrenceburg, Indiana
6		Samuel Hannah	February 9, 1847	February 9, 1850	Whig	Shelby County, Indiana
7		James P. Drake	February 9, 1850	February 9, 1853	Democratic	Indianapolis, Indiana
8		Elijah Newland	February 9, 1853	February 9, 1855	Democratic	Washington County, Indiana
9		William R. Nofsinger	February 9, 1855	February 9, 1857	Republican	Parke County, Indiana
10		Aquilla Jones	February 9, 1857	February 9, 1859	Democratic	Columbus, Indiana
11		Nathaniel G. Cunningham	February 9, 1859	February 9, 1861	Democratic	Vigo County, Indiana
12		Jonathan S. Harvey	February 9, 1861	February 9, 1863	Republican	Jeffersonville, Indiana
13		Matthew L. Brett	February 9, 1863	February 9, 1865	Democratic	Daviess County, Indiana
14		John I. Morris	February 9, 1865	February 9, 1867	Republican	Salem, Indiana
15		Nathan Kimball	February 9, 1867	February 9, 1871	Republican	Loogootee, Indiana
16		James B. Ryan	February 9, 1871	February 9, 1873	Democratic	Indianapolis, Indiana
17		John B. Glover	February 9, 1873	February 9, 1875	Republican	Bedford, Indiana
18		Benjamin C. Shaw	February 9, 1875	February 9, 1879	Democratic	Indianapolis, Indiana
19		William Fleming	February 9, 1879	February 5, 1881	Democratic	Fort Wayne, Indiana
20		Roswell S. Hill	February 5, 1881	February 9, 1883	Republican	Brazil, Indiana
21		John J. Cooper	February 9, 1883	February 9, 1887	Democratic	Indianapolis, Indiana
22		Julius A. Lemcke	February 9, 1887	February 9, 1891	Republican	Evansville, Indiana
23		Albert Gall	February 9, 1891	February 9, 1895	Democratic	Indianapolis, Indiana
24		Frederick J. Scholz	February 9, 1895	February 10, 1899	Republican	Evansville, Indiana
25		Leopold Levy	February 10, 1899	February 9, 1903	Republican	Indianapolis, Indiana
26		Nathaniel U. Hill	February 9, 1903	February 10, 1907	Republican	Bloomington, Indiana
27		Oscar C. Hadley	February 10, 1907	February 9, 1911	Republican	Plainfield, Indiana
28		William H. Vollmer	February 10, 1911	February 10, 1915	Democratic	Vincennes, Indiana
29		George A. Bittler	February 10, 1915	February 10, 1917	Democratic	Fort Wayne, Indiana
30		Uz McMurtie	February 10, 1917	February 10, 1921	Republican	Marion, Indiana
31		Ora J. Davies	February 10, 1921	February 10, 1925	Republican	Kokomo, Indiana
32		Bernhardt H. Urbahns	February 10, 1925	January 22, 1926	Republican	Indianapolis, Indiana	[5]
33		Grace Urbahns	January 22, 1926	February 10, 1931	Republican	Indianapolis, Indiana	[6]
34		William Storen	February 10, 1931	February 10, 1935	Democratic	Scottsburg, Indiana
35		Peter Hein	February 10, 1935	February 10, 1939	Democratic	Crown Point, Indiana
36		Joseph M. Robertson	February 10, 1939	February 10, 1941	Democratic	Brownstown, Indiana
37		James M. Givens	February 10, 1941	February 10, 1945	Republican	Porter, Indiana
38		Frank T. Millis	February 10, 1945	February 10, 1949	Republican	Campbellsburg, Indiana
39		F. Shirley Wilcox	February 10, 1949	February 10, 1951	Democratic	New Albany, Indiana
40		William L. Fortune	February 10, 1951	February 10, 1953	Republican	Carmel, Indiana
42		John Peters	February 10, 1953	February 10, 1957	Republican	New Albany, Indiana
43		Adolph L. Fossler	February 10, 1957	February 10, 1959	Republican	Indianapolis, Indiana
44		Jack A. Haymaker	February 10, 1959	February 10, 1961	Democratic	Logansport, Indiana
45		Robert E. Hughes	February 10, 1961	February 10, 1963	Republican	Greenwood, Indiana
46		Jack L. New	February 10, 1965	February 10, 1967	Democratic	Greenwood, Indiana
47		John Snyder	February 10, 1967	February 10, 1971	Republican	Washington, Indiana
48		Jack L. New	February 10, 1971	February 10, 1979	Democratic	Greenfield, Indiana
49		Julian Ridlen	February 10, 1979	February 10, 1987	Republican	Logansport, Indiana
50		Marjorie H. O’Laughlin	February 10, 1987	February 10, 1995	Republican	Indianapolis, Indiana
51		Joyce Brinkman	February 10, 1995	February 10, 1999	Republican	Indianapolis, Indiana
52		Tim Berry	February 10, 1999	February 10, 2007	Republican	Fort Wayne, Indiana
53		Richard Mourdock	February 10, 2007	August 29, 2014	Republican	Evansville, Indiana
54		Kelly Mitchell	November 18, 2014	January 9, 2023	Republican	Logansport, Indiana
55		Dan Elliott	January 9, 2023	present	Republican	Green Township, Indiana

Notes

1. "Pay raises incoming for Indiana's highest elected officials". Indiana Capital Chronicle . Retrieved January 13, 2025.
2. Indiana Chamber, p. 16
3. Indiana Chamber, p. 17
4. Indiana Chamber, p. 18
5. Bernhardt H. Urbahms died in office and his wife Grace was appointed in his place. (Funk, p. 211)
6. Grace Urbahns was married during her second term and became Mrs. Grace Banta Reynolds. (Funk, p. 211)

See also

• Indiana portal

• Government of Indiana

Sources

• Funk, Arville L (1983) [1969]. A Sketchbook of Indiana History. Rochester, Indiana: Christian Book Press. pp. 210–211.
• Indiana Chamber (2007). Here's Your Indiana Government . Indiana Camber of Commerce. ISBN   978-1-883698-79-9.

External links

• "State Treasurer". IN.gov. Retrieved 2008-12-01.