Treasurer – About the Office*
The incumbent Pennsylvania Treasurer is a Republican who flipped this office to RED in 2020. To flip this seat back to BLUE, we MUST nominate a Democratic Candidate who can WIN statewide in November against the Republican incumbent.
The Pennsylvania Treasurer is an independently elected head of the Treasury Department and serves as the custodian of more than $150 billion in Commonwealth funds. The Treasurer’s paramount responsibility is safeguarding and managing the state’s financial assets by controlling the disbursement of funds, along with several other specific responsibilities under Pennsylvania law and the PA Constitution. The Treasurer is responsible for the receipt and deposit of state monies, investment management, and oversight of all withdrawals and deposits from state agencies.
As Pennsylvania’s chief fiscal officer, the Treasurer also executes these additional responsibilities:
- Chairs the Board of Finance & Revenue, which selects banks to serve as depositories for state money;
- Sets interest rates paid on Commonwealth deposits; and
- Investigating loss, fraud, theft, and fraud involving Commonwealth checks;
- Hears and decides state tax appeals.
- Reuniting unclaimed property with its rightful owner;
- Reviewing real estate leases and contracts entered into by Commonwealth agencies;
- Maintaining the electronic library of Pennsylvania Contracts.
The Treasurer and Treasury Department also creates and administers programs that can provide an opportunity for financial empowerment for families, municipal governments, and non-profit groups across the state. The policies, programs, and practices of the Treasury Department can also prevent waste and poor stewardship of Pennsylvania monies on deposit in the Treasury, Pension Funds, and related programs.
*Includes adapted content from external sources.