North Carolina State Government

State Treasurer

 Department Website:
www.nctreasurer.com


Dale R. Folwell

Since at least 1715, the Lords Proprietors deemed it neccesary to appoint a Treasurer to support their appointed governors. The first documented Treasurer for North Carolina was Edward Moseley, who was appointed by the House of Burgesses in 1715 to serve Governor Charles Eden. There may have been others earlier, but available records have not identified any.

In 1740, under Royal Governor Gabriel Johnston, the Treasurer's Office was divided into two districts, and this continued after the first State Constitution was issued in 1776. In 1779, the General Assembly voted to expand the Office into six districts, then into seven districts in 1782. However, in 1784, the General Assembly consolidated the Office back to a single individual.

Per the 1776 State Constitution, the two State Treasurers were elected by the General Assembly. Since the 1868 State Constitution, the State Treasurer is elected by the people of North Carolina every four years. The State Treasurer is also on the Council of State and serves as an ex officio member of the State Board of Education, the State Board of Community Colleges, and the State Banking Commission. Powers and duties of the State Treasurer are set forth in the Constitution and Article III, Section 7 of the General Statutes of North Carolina.

As the chief financial officer and official banker, the State Treasurer bears responsibility for managing the finances of the entire State. This includes, but is not limited to:

- Managing a $74.2 billion pension fund
- Administering teacher, state employee, and local government pension plans
- Operating and managing a $12 billion state bank
- Managing state and local debt issuance and interfacing with bond rating agencies
- Overseeing the finances of local governments
- Serving as a fiscal advisor to the state
- Managing the unclaimed property program
- Administering $4 billion 401(k)/457 plans
- Administering the state disability program

The Financial Operations Division keeps record of and reports on all funds that are deposited, invested, or disbursed through the treasurer's office. The staff of this division also fulfill the treasurer's role at state banker. There are four sections within this division: banking operations, bank reconciliation, statewide accounting operations, and departmental accounting.

The Investment Management Division handles all investments on behalf of the treasurer. The staff oversee the state's cash management, pension fund investment, and ancillary investment programs.

The Retirement Systems Division manages the retirement and benefit plans for public employees, including teachers, state employees, local government employees, judges, legislators, firemen, rescue squad workers, and national guardsmen. The division also administers disability income plans, supplemental pension plans, and registers of deeds' supplemental pension funds.

The State & Local Government Finance Division manages the sale and delivery of all state and local debt, and ensure the repayment of government debt. There are three sections within this division: debt management, fiscal management, and capital facilities finance.

The Unclaimed Property Division works to return unclaimed property to its rightful and legal owner.

Past State Treasurers

Name

Year(s)

Notes/Comments

Dale R. Folwell

2017 -
Elected on November 8, 2016.

Janet Cowell

2009 - 2017
-

Richard Hancock Moore

2001 - 2009
-

Harlan E. Boyles

1977 - 2001
-

Edwin M. Gill

1953 - 1977
Appointed by Governor William B. Umstead on June 29, 1953. Retired in 1977.

Brandon P. Hodges

1949 - 1953
Resigned in June of 1953.

Charles M. Johnson

1933 - 1949
Appointed by Governor Oliver M. Gardner on November 7, 1932 - however, he failed to qualify until 1933.

John P. Stedman

1932
Appointed by Governor Oliver M. Gardner on January 7, 1932. Resigned effective November 21, 1932.

Nathan O'Berry

1929 - 1932
Appointed by Governor Oliver M. Gardner on February 23, 1929. He died on January 6, 1932.

Benjamin R. Lacy

1901 - 1929
Died on February 21, 1929.

William H. Worth

1895 - 1901
-

Samuel McDowell Tate

1892 - 1895
Appointed by Governor Thomas M. Holt on November 19, 1892. Defeated in the next election by William H. Worth.

Donald W. Bain

1885 - 1892
Died on November 16, 1892.

John M. Worth

1876 - 1885
Appointed by Governor Curtis H. Brogden on November 10, 1876.

David A. Jenkins

1868 - 1876
Resigned on November 6, 1876.

Kemp P. Battle

1866 - 1868
Elected by the General Assembly, served until the new State Constitution went into effect.

William Sloan

1865 - 1866
Appointed by Governor William W. Holden.

Jonathan Worth

1863 - 1865
Resigned on November 15, 1865.

Daniel W. Courts

1851 - 1863
-

Charles L. Hinton

1845 - 1851
-

John H. Wheeler

1843 - 1845
-

Charles L. Hinton

1839 - 1843
-

Daniel W. Courts

1837 - 1839
Resignation presented to the Council of State on April 15, 1839.

Samuel F. Patterson

1835 - 1837
-

William S. Mhoon

1831 - 1835
-

William S. Robards

1827 - 1830
-

John Haywood

1787 - 1827
Died on November 18, 1827.

Memucan Hunt

1784 - 1787
-

6 / 7-District Office of the Treasurer

Name

Year(s)

Notes/Comments

William Skinner

1779 - 1784
Edenton District

Green Hill

1779 - 1784
Halifax District

Memucan Hunt /
Matthew Jones

1782 - 1784 /
1779 - 1782
Hillsborough District

Benjamin Exum /
Richard Cogdell

1782 - 1784 /
1779 - 1782
New Bern District

Robert Lanier /
William Cathey

1782 - 1784 /
1779 - 1781
Salisbury District

Timothy Bloodworth /
John Ashe

1781 - 1784 /
1779 - 1781
Wilmington District

John Brown

1782 - 1784
Morgan District (created May 10, 1782)

2-District Office of the Treasurer (State)

Name

Year(s)

Notes/Comments

William Skinner

1777 - 1779
Northern District

John Ashe

1777 - 1779
Southern District

2-District Office of the Treasurer (Royal Colony)

Name

Year(s)

Notes/Comments

Samuel Johnston

1775
Northern District

Richard Caswell

1773 - 1775
Southern District

Joseph Montfort

1764 - 1775
Northern District

John Ashe

1766 - 1773
Southern District

Thomas Barker

1754 - 1764
Northern District

Samuel Swann

1765 - 1766
Southern District

John Haywood

1752 - 1754
Northern District. Grandfather of John Haywood above (1787-1827).

John Starkey

1750 - 1765
Southern District

Thomas Barker

1748 - 1752
Northern District

Eleazer Allen

1749 - 1750
Southern District

John Hodgson

1740 - 1748
Northern District

Edward Moseley

1735 - 1749
Southern District

William Smith

1739 - 1740
Northern District

William Downing

1735 - 1739
Northern District

Office of the Treasurer (Royal Colony & Lords Proprietors)

Name

Year(s)

Notes/Comments

William Smith

1735
Appointed by Governor George Burrington, but no evidence that he actually served.

Edward Moseley

1715 - 1735
First identified Treasurer. Earlier in 1711, a commissioner to issue paper currency.


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