Madison Common Council Opposes Elimination of State Treasurer

posted March 16, 2018 – 1:48pm

Referendum on the Ballot on Tuesday, April 3

The Madison Common Council is poised to go on record opposing elimination of Wisconsin’s constitutional office of state treasurer. A resolution, to be considered by the council on March 20th, urges Madison residents to vote “no” on a statewide binding referendum April 3rd that would eliminate the office. Wisconsin has had a state treasurer since statehood in 1848.

District 19 Alder Mark Clear authored the resolution, which has 18 co-sponsors, all but assuring passage. Clear says that while the legislature has eliminated most of the office’s statutory duties, having an independently elected fiscal watchdog is still important.

According to Clear, “The next State Treasurer should focus on providing independent information to the public about the state’s budget and fiscal health, as well as encouraging the legislature to restore the position’s financial oversight authority.”

Few Wisconsin voters are aware of the referendum, prompting Clear to draft the resolution.

Former state treasurer Jack Voight is an organizer with Save Our Fiscal Watchdog, an organization educating voters statewide against the referendum. “It’s so very important to have checks and balances,” says Voight. “This is a power grab that’s been years in the making.”

"Through one referendum, we could lose our fiscal watchdog, create an undue concentration of power within the governor’s office, and threaten the financial integrity of our trust funds," said Sarah Godlewski, a Wisconsin investor and supporter of Save Our Fiscal Watchdog.

The State Treasurer serves as the financial commissioner for the Board of Commissioners of Public Lands (BCPL). The BCPL manages over $1 billion in trust fund assets, the State Trust Fund Loan Program, and over 77,000 acres of School Trust Lands. These funds, guarded by the State Treasurer's office, are used to improve public schools, libraries, the UW system, local community infrastructure like sewers, and our parks. “The Treasurer is an ideal custodian to protect the integrity of these state assets,” said Clear, because he or she is elected independently of the Governor and the Legislature. Eliminating this role, to be replaced by Governor appointed personnel will consolidate power in a way that compromises fair and transparent government.”

The April 3rd vote would remove the office from the state constitution. Wisconsin would become the only state in the country without a Treasurer or an equivalent watchdog office. Finally, this elimination will set a dangerous precedent of removing a Wisconsin Constitutional Officer.

According to the Council of State Governments, treasurers are elected by their constituents to be watchdogs of the people’s money. They are a check and balance of the executive branch of government, providing effective oversight and increased transparency.