Illinois. Office of the State Treasurer

The Illinois Treasurer's office was established in 1812, and when Illinois became a state, the 1818 Constitution required the General Assembly to appoint a new Treasurer biennially. With the adoption of the 1848 Constitution, the Treasurer became an elective office. The Treasurer still served a two year term and the 1870 Constitution prohibited the incubement from suceeding himself. A 1959 constitutional amendment increased the term to four years and with the ratification of the 1970 Constitution, the Treasurer was allowed to serve more than one term.

The State Treasurer's primary functions are to receive all tax proceeds and public monies; make authorized disbursements and payments; deliver a monthly report to the Auditor detailing all Treasury receipts and disbursements; invest state funds; serve on boards and commissions (e.g., State Canvassing Board; Commissioners of State Contracts); serve as state retirement funds (e.g., teacher; judges; state employees) trustee. Other duties relating to state finances include countersigning most state bond issues; serving as local bond fund trustee and as ex officio custodian of federal grant funds (e.g., Social Security; forest lands; Federal Emergency Administration of Public Works; flood control and navigation; highways).

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