While our physical offices are closed until further notice in accordance with Austin's COVID-19 "stay home-work safe" order, the Handbook of Texas will remain available at no-cost for you, your fellow history enthusiasts, and all Texas students currently mandated to study from home. If you have the capacity to help us maintain our online Texas history resources during these uncertain times, please consider making a 100% tax-deductible contribution today. Thank you for your support of TSHA and Texas history. Donate Today »


Laurie E. Jasinski

STATE TREASURER. The office of state treasurer described in the Constitution of 1876 was established as a state office by the Constitution of 1845 and superseded a similar office in the Republic of Texas. The treasurer was elected and served for four years as head of the State Treasury Department. The major duties of the office were to receive and keep state money, maintain accounts of all receipts and expenditures, collect cigarette and tobacco taxes and certain gross-receipts taxes, serve as custodian of securities in trust, receive unclaimed property held in trust, and administer money in a local government-investment pool known as TexPool. Additionally, the treasurer acted as chairman of the State Depository Board and the Cash Management Committee, officer of the Treasury Safekeeping Trust Company, and member of the State Banking Board and Bond Review Board. The State Treasury Department was organized into two divisions-fiscal management and administration. Within the fiscal management area the Fiscal Operations Division processed checks from state agencies and state warrants. The State Depository Board approved Texas financial institutions to function as state depositories and establishes interest rates on state time deposits. The Treasury Safekeeping Trust Company kept several billion dollars in securities owned by state agencies and the treasury. Unclaimed money from dormant bank accounts, insurance benefits, corporate dividends, and mineral proceeds, for example, were handled through the Unclaimed Property Division; the treasury attempted to locate missing owners. The administrative divisions of the treasury provided computer operations, legal support, and the sale and distribution of cigarette and alcoholic-beverage stamps. The Cash Flow Estimating Division forecast state expenditures and revenue. The Rapid Deposit Program developed efficient cash-management programs. A system called TEXNET, begun in 1990, was designed to receive and process large taxpayer payments electronically to hasten interest earnings. In 1990 approximately 260 employees worked in the State Treasury Department, which had an operating budget of more than $21 million. The treasury processed more than 34,000 checks a day from state agencies and earned more than $300 million in interest during the fiscal year. In November 1995 Texas voters approved a constitutional amendment to abolish the office of the state treasurer, effective August 31, 1996. The office of Comptroller of Public Accounts assumed the functions of the State Treasury Department.

Image Use Disclaimer

All copyrighted materials included within the Handbook of Texas Online are in accordance with Title 17 U.S.C. Section 107 related to Copyright and “Fair Use” for Non-Profit educational institutions, which permits the Texas State Historical Association (TSHA), to utilize copyrighted materials to further scholarship, education, and inform the public. The TSHA makes every effort to conform to the principles of fair use and to comply with copyright law.

For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml

If you wish to use copyrighted material from this site for purposes of your own that go beyond fair use, you must obtain permission from the copyright owner.


The following, adapted from the Chicago Manual of Style, 15th edition, is the preferred citation for this article.

Handbook of Texas Online, Laurie E. Jasinski, "STATE TREASURER," accessed July 06, 2020, http://www.tshaonline.org/handbook/online/articles/mbsex.

Uploaded on June 15, 2010. Modified on February 28, 2011. Published by the Texas State Historical Association.
visit the mytsha forums to participate

View these posts and more when you register your free MyTSHA account.

Call for Papers: Texas Center for Working-Class Studies Events, Symposia, and Workshops
Hi all! You may be interested in this call for papers I received from the Texas Center for Working-Class Studies at Collin College...

Katy Jennings' Ride Scholarly Research Request
I'm doing research on Catherine Jennings Lockwood, specifically the incident known as "Katy Jennings' Ride." Her father was Gordon C. Jennings, the oldest man to die at the Alamo...

Texas Constitution of 1836 Co-Author- Elisha Pease? Ask a Historian
The TSHA profile of Elisha Marshall Pease states that he wrote part of the Texas Constitution although he was only a 24 year-old assistant secretary (not elected). I cannot find any other mention of this authorship work by Pease in other credible research about the credited Constution authors...