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Who oversees state funds and spending within the state of Kentucky? What are the day-to-day responsibilities as treasurer?
Kentucky’s treasurer could be most closely compared to the state’s CFO, said Ryan Salzman, an associate political science professor at Northern Kentucky University and Bellevue City Council member.
When Kentuckians pay their taxes, all of that money goes through the treasurer, Salzman said, likening some of the responsibilities of a treasurer to being a bookkeeper for the state – overseeing and tracking all funds and revenue.
“When you pay your taxes, you cut your check to the treasurer,” he said. “The actual money comes in to them, and then they reconcile when the money goes out to the other agencies and departments. They keep the books for the state.”
The treasurer is part of the statewide constitutional offices. Other such offices include governor, secretary of state, auditor, treasurer and attorney general.
According to Salzman, the state treasurer has a lot of oversight power.
“They would recommend to people, like the attorney general, if they think that something untoward has been happening in, say, an agency,” Salzman said. “The treasurer may catch what’s happening, much like your bookkeeper or your accountant. Then they would have a direct line to the other offices that would have the power to fix those things, more than likely, so it’s mostly oversight.”
The state treasurer’s duties could include providing transparency for Kentuckians about financial budgets and spending, similar to an auditor.
“They have some powers of being able to request information from people, much like an auditor,” Salzman said. “The treasurer, in the hierarchy of power among constitutional offices, is toward the bottom.”
The day-to-day role of treasurer could include many responsibilities, including managing and moving money from properties to other state agencies, he said. Another duty is overseeing unclaimed property – or abandoned financial assets – which could include payroll checks, old life insurance policies and many more.
Typical daily duties include bookkeeping with state funds and revenue.
“Even though you and I pay our state income tax once a year in the spring, there are a lot of businesses that have to pay their taxes to the state,” Salzman said. “Whether it’s sales tax or different kinds of business taxes like payroll taxes, they are being collected by the state.”
Allison Ball, the current state treasurer, is involved with a good deal of public outreach and education as part of the role. She has worked with a multitude of groups around the state since being elected in 2015, and the financial literacy programs she helped design are mandatory for high school students to graduate in the state of Kentucky.
“That’s been a big lift that she’s done,” Salzman said. “The treasurer can be involved in some economic development issues as well, but I would probably cite that financial literacy piece as being one of the biggest ones.”
One significant issue the treasurer would oversee is the ongoing digitization of how businesses and residents pay revenue to the state.
“The biggest deal over the last 10 or 20 years has been the continued automation and digitization of all governmental processes,” Salzman said. “That’s not unique to the treasurer, but when it comes to people paying revenues and sending things in, shifting things and digitizing things has probably been a pretty big task for them.”
State treasurers can serve for up to two terms of four years. The Republican candidate with the most votes will face the Democratic nominee later this year. The primary election will take place May 16.
Voters will choose from Republicans OJ Oleka, Mark Metcalf and Andrew Cooperrider, who come from different backgrounds that influence their campaigns and policies.
LINK nky: Why are you running for this office, and if elected, what will be the most important thing on your agenda that you’d like to get done?
Oleka: “I’m running because the Treasurer’s Office needs a proven conservative to continue the good work of Allison Ball, who has endorsed me in this race. As Kentucky state treasurer, I’ll defend pro-life, pro-family values, stand up for liberty, prioritize legal and efficient spending, improve budget transparency and promote financial empowerment. To accomplish anything in this office, you need an experienced conservative who knows the office’s constitutional duties and how it works, and I’m the only person in this race who fits that description. The most useless tool is one put in the hands of someone who doesn’t know how to use it; of the three choices, I’m the only person who understands what a powerful tool the Treasurer’s Office can be to promote fiscally conservative values and financial transparency.”
Metcalf: “Protect tax dollars from the greedy hands of career politicians, divest state resources from woke businesses, crack down on illegals siphoning tax dollars away from lawful Kentuckians and return money to the hard-working taxpayers of Kentucky,” according to Metcalf’s campaign website.
Cooperrider: “I am a husband, father and businessman – not a career politician. I am running for Kentucky state treasurer because I am sick and tired of corruption running rampant in our government. We need a constitutional watchdog to hold politicians like (Gov. Andy) Beshear accountable,” according to Cooperrider’s campaign website.
LINK nky: What approach would you take to manage state funds and spending?
Oleka: “Integrity and honesty will be at the center of everything I do as state treasurer to protect Kentucky values and serve families. On my first day, I will fight back against the radical woke ideology that is trying to invest your money to fit a political agenda, not to receive the best return. I will monitor for banks and financial institutions that don’t align with Kentuckians’ values and ensure ESG (a regulatory framework for environmental, social and governance) doesn’t threaten your family’s future. As the only candidate in this race with real experience in the Treasurer’s Office, I’m ready to get to work and deliver for your family. I will also eliminate every possible physical check that is printed and mailed from Frankfort, modernizing and improving efficiency within our disbursement processes and saving taxpayers nearly $3 million that can instead go toward funding law enforcement, education and our state government rainy day savings fund.”
Metcalf: “Mark will pay only those bills that are authorized by the General Assembly and are consistent with constitutional and statutory authority,” according to his campaign website. “Mark will work to quickly identify and return all unclaimed properties to their rightful owner, the Kentucky taxpayers.”
Cooperrider: “The Commonwealth of Kentucky is facing enormous issues due to government overreach and out-of-control spending. Career politicians are using (Russian President Vladimir) Putin, COVID and social issues to hide their incompetence, and I am here to hold them accountable,” according to Cooperrider’s campaign website.
LINK nky: What experience do you have that makes you qualified for the position?
Oleka: I am a proven conservative leader who will bring a new generation of Republican leadership and will deliver for Kentucky. I served as deputy treasurer under current Treasurer Allison Ball, who has endorsed my campaign along with Kentucky Right to Life. I’m the only candidate with experience as a watchdog for Kentuckians’ tax dollars, and I have a proven record of efficient spending. I proudly returned millions of dollars to Kentucky families, and I know how to do it again. In the private sector, while running a statewide association for private colleges and universities, we decreased our budget and increased revenues without raising dues by a single penny. I’ve honed my experience in the private and public sectors and will be ready to do the job on Day One.
Metcalf: “Mark H. Metcalf has practiced law for 37 years as a private practitioner, state and federal prosecutor, and as a judge on the US Immigration Court in Miami, Florida. He was selected Kentucky’s Outstanding County Attorney in 2013 and has twice represented Kentucky before the US Supreme Court as Special Assistant Attorney General. Mark is a combat veteran who served as Command Judge-Advocate for the 149th Maneuver Enhancement Brigade (Combat Support) in Richmond, Kentucky and holds the rank of lieutenant colonel. In civilian life, Mr. Metcalf serves as Garrard County Attorney in Lancaster, Kentucky,” according to Metcalf’s campaign website.
Cooperrider: “Andrew Cooperrider is a business owner who employs dozens of Kentuckians across his companies. Having built successful businesses from scratch, Andrew understands budgeting, cash flow, and ensuring proper investments for long term financial viability. More importantly, Andrew has actually had to sacrifice and pull himself up by his bootstraps to achieve the American Dream. For this reason Andrew takes the spending of your tax dollars very seriously. You worked hard for what you have and we need someone like Andrew who understands that,” according to Cooperrider’s campaign website.
LINK nky: What things would you like to change, if elected, to better serve the citizens of Kentucky?
Oleka: In addition to fighting back against the out-of-touch elites who want to impose their ESG agenda on Kentucky, I’ll work to save Kentuckians’ money with efficient reforms. For example, replacing paper checks with a more efficient disbursement process would save Kentucky taxpayers nearly $3 million a year. I will also work with county governments to develop a statewide initiative that helps county governments increase cash flows by making sound investments by pooling together assets. Due to my relationship with other state treasurers who have implemented similar initiatives, I know this type of initiative can find hundreds of thousands of dollars so local governments can cut taxes, provide better services and launch economic development projects to unleash Kentucky’s economy from the ground up. Because of my time in a leadership role in the Treasurer’s Office, I am the only candidate in this race with a firsthand understanding of what works and what can be improved.
Metcalf: “Mark will work to quickly identify and return all unclaimed properties to their rightful owner, the Kentucky taxpayers,” according to Metcalf’s campaign website.
Cooperrider: “In the midst of government mandates, fiscal policy failures resulting in inflation, and skyrocketing gas prices, our families have been struggling. Government created these issues and they have failed to solve them. Power should not belong in the hands of the few. Returning power to the household is the only way out of this,” according to Cooperrider’s campaign website.
LINK nky: Why do you think voters should choose you?
Oleka: Kentuckians deserve an experienced constitutional conservative with integrity and a clue about how to achieve anything in the Treasurer’s Office. I will protect our tax dollars, uphold conservative values and fight to preserve the idea that liberty creates prosperity. As part of a new generation of Republican leadership, I will work to preserve the American Dream for everyone in Kentucky, because my family has lived it. There are three choices on the ballot, but only one of us would have any idea what to do if they were fortunate enough to win election. Vote for someone with the right values and the right experience.
Metcalf: “Voters all over Kentucky want a Veteran, Conservative, Frankfort outsider to watch over their tax dollars,” according to Metcalf’s campaign website.
Cooperrider: “With your help, we can get the job done in Kentucky. I am asking for your vote because united we stand, divided we fall. Working together, we can deliver relief from overtaxation and overregulation, balance the budget, protect life, and preserve liberty,” according to Cooperrider’s campaign website.