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.
History As a British colony, the Province of South Carolina had a receiver of the colony appointed by its lords proprietors as well a treasurer appointed by the General Assembly. The receiver was responsible for collecting fines and quit-rents, paying government expenses, and sending surplus funds to the lords proprietors. The treasurer collected and paid money on behalf of the colonial government. In 1707, the General Assembly unilaterally merged both offices. In 1721, the name of the office was changed to treasurer, and the officer was made responsible for maintaining tax receipts and paying out expenditures as instructed by the assembly. A separate office of receiver-general was created to collect quit-rents on behalf of the British Crown. In 1771, the assembly appointed two treasurers, and five years later the treasury was made the responsibility of three commissioners. South Carolina's 1778 constitution affirmed the legislature's power to appoint treasury commissioners.
Powers and duties The state treasurer is the chief banker and investment officer of the state of South Carolina. 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. Moreover, the state treasurer administers unclaimed property and manages the state's debt. The Office of the State Treasurer also provides certain services to South Carolina residents, including its college and ABLE savings programs.
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. The SFAA is generally charged with oversight of state spending and management of state property. 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. In addition, the SFAA appoints South Carolina's state auditor to serve at pleasure.
List of treasurers
Since 1865, the state treasurer has been elected at-large and serves a term of four years.
+ List of treasurers of South CarolinaImageTreasurerPartyTerm of office William Hood Republican1865–1866S. L. Leaphart Republican1866–1868Niles G. Parker Republican1868–1872Francis Lewis Cardozo Republican1872–1877S. L. Leaphart Democratic1877–1881J. P. Richardson Democratic1881–1887I. S. Bamberg Democratic1887–1889 E. R. McIver Democratic1889–1891W. T. C. Bates Democratic1891–1897W. H. Timmerman Democratic1897–1901R. H. Jennings Democratic1901–1913S. T. Carter Democratic1913–1925Julian Haskell Scarborough Democratic1926–1934E.P. Miller Democratic1934–1940Jefferson Bates DemocraticJanuary 10, 1940 – August 17, 1966(Died)Grady Patterson DemocraticJanuary 17, 1967 – January 11, 1995(Lost reelection)Richard Eckstrom RepublicanJanuary 11, 1995 – January 11, 1999(Lost reelection)Grady Patterson DemocraticJanuary 11, 1999 – January 3, 2007(Lost reelection)Thomas Ravenel RepublicanJanuary 3, 2007 – July 24, 2007(Resigned)Converse Chellis RepublicanAugust 3, 2007 – January 12, 2011(Lost nomination)Curtis Loftis RepublicanJanuary 11, 2011 – incumbent
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