Constitutional Offices and Agencies
anticipated revenue, devises equitable and eco-
nomical means of collection of such revenue, and
devises and recommends new sources of revenue.
The Chief of the Bureau of Revenue Estimates,
in conjunction with the State Comptroller's Of-
fice, prepares and submits to the members of the
General Assembly by the end of the months of
January and July in each year an itemized state-
|
State Treasurer/W
ment showing the following information for the
six-month period ending on the next preceding
December 31 or June 30, as the case may be: 1.
estimated revenue from all sources, by funds, for
the current budget period; 2. collections for the
next preceding six-month period; and 3. amount
of revenues uncollected or over-collected (Code
1957, Art. 41, sec. 194). The appropriation for
the Bureau of Revenue Estimates is included in
the budget of the Comptroller of the Treasury.
|
STATE TREASURER
William S. James, Treasurer
Edwin J. Schamel, Chief Deputy
Charles R. Jones, Jr., Deputy
Eva N. Hubbard, Deputy
Margaret H. Terry, Deputy
Robert L. Richter, Deputy
P. 0. Box 666
Annapolis 21404 Telephone: 269-3533
Under the Constitution of 1776 there were two State Treasurers—the Treasurer of the Eastern
Shore and the Treasurer of the Western Shore. In 1841 a constitutional amendment consolidated the
two offices. The present constitution provides that the Treasurer shall be elected by joint ballot of
both Houses of the General Assembly for a term of four years. The Treasurer is responsible for ac-
counting for all deposits made each day by State agencies in depositories designated and authorized by
him. The Treasurer prepares all checks drawn for disbursement of State cash funds, and he and one of
his Deputies sign lliesc checks, which arc then countersigned by the Comptroller and one of his autho-
rized Deputies. The Treasurer invests any unexpended or surplus funds in the State Treasury, repre-
senting both the general and special funds of the State, which are not currently required to meet State
needs. He is the custodian of all stocks, bonds, or other investments of the State, as well as securities
that are pledged by insurance companies, foreign building and homestead associations, and all collater-
al that is pledged by banks that have State funds on deposit. He administers the insurance for the
State of Maryland, which includes the State Insurance Trust Fund and the State Self-Insurance Pro-
gram. The State Treasurer does the preliminary planning, preparation, and advertising for State of
Maryland Bond Issues, receives bids and arranges for settlement, and signs and delivers State of Mary-
land bonds. He publishes a monthly balance in Baltimore City newspapers of all State funds held in
authorized depositories, and renders a quarterly report of cash receipts and cash disbursements to the
Comptroller of the Treasury. He is by law a member of the Board of Public Works, the Board of
Trustees of the three Retirement Systems, the State Board of Canvassers, the Maryland Industrial De-
velopment Financing Authority, and a number of other boards and commissions, and he is also the
custodian of such special deposits as may from time to time be prescribed by law (Const. 1867, Art.
VI. secs. 1, 2, 3, 4; Code 1957, Art. 95).
By a constitutional amendment ratified by the voters in 1976 (Chapter 640, Acts of 1975), any va-
cancy in the office of State Treasurer is to be filled by the Deputy Treasurer until a successor has been
chosen at the next session of the General Assembly (Const. 1867, Art. VI, secs. 1 and 6).
|
 |
