# Minnesota State Treasurer *Former constitutional office in the executive branch of Minnesota, abolished in 2003* The Minnesota State Treasurer was a constitutional office in the executive branch of the state of [[Minnesota]]. Twenty-six people held it between 1858 and its end in 2003. The last was [[Carol C. Johnson]], a member of the Minnesota Democratic-Farmer-Labor Party (DFL).[^1] The treasurer acted as the state government's banker.[^3] Under the 1998 Minnesota Amendment 2, the office was abolished effective January 6, 2003. Its duties went to the commissioner of finance, an official appointed by the [[governor]]. Since 2009 that post has been titled commissioner of [[Minnesota Management and Budget]].[^4] ## Election and term of office Treasurers were chosen at the November general election and began serving on the first Monday of the following January. No term limit applied. A candidate had to be a qualified voter, at least 21 years old, who had been a permanent resident of Minnesota for at least 30 days before the election.[^2] When the office fell vacant, the governor appointed a replacement to finish the unexpired term. Voters could recall a treasurer, and a treasurer could also be removed after an impeachment trial.[^2] The term was two years until the 1962 election, from which it became four years.[^2] ## Powers and duties For its entire history, the office functioned as the state government's banker. That role covered accounting for and managing the state's cash flow, arranging bank services for state agencies, receiving revenue, disbursing payments, reconciling the state's bank accounts, and servicing the state's debt.[^3] The treasurer was also responsible for unclaimed property until 1983.[^3] ## History The 1998 Minnesota Amendment 2 abolished the treasurer's office, with effect from January 6, 2003.[^4] Its functions moved to the commissioner of finance, a gubernatorial appointee subject to confirmation by the [[Minnesota Senate]].[^4] In 2009 the commissioner of finance was retitled commissioner of Minnesota Management and Budget.[^4] ## Political party names Two changes in party names affect the labels used for officeholders. The Minnesota Democratic-Farmer-Labor Party was formed on April 15, 1944, when the state Democratic Party merged with the Minnesota Farmer-Labor Party. It is affiliated with the national [[Democratic Party (United States)]].[^5] The [[Republican Party of Minnesota]] used the name Independent-Republican (I-R) from November 15, 1975, to September 23, 1995. It has always been affiliated with the national [[Republican Party (United States)]].[^5] ## In the Minnesota record ### Who - Twenty-six people served as state treasurer from 1858 to 2003.[^1] - Carol C. Johnson, of the DFL, was the last person to hold the office.[^1] ### When - 1858: the office begins its record of officeholders.[^1] - 1962: the term changes from two to four years, starting with that year's election.[^2] - 1983: the treasurer stops administering unclaimed property.[^3] - 1998: Minnesota Amendment 2 provides for the office's abolition.[^4] - January 6, 2003: the abolition takes effect, and the functions pass to the commissioner of finance.[^4] - 2009: the commissioner of finance becomes the commissioner of Minnesota Management and Budget.[^4] ### How - Treasurers were elected in November and took office in January. The governor filled vacancies by appointment. Removal was possible by recall or by impeachment trial.[^2] ## Notes [^1]: Wikipedia contributors, *Minnesota State Treasurer* (revision 1375782148, retrieved 2026-10-26), lead section — constitutional office; twenty-six officeholders, 1858–2003; final treasurer Carol C. Johnson (DFL). https://en.wikipedia.org/wiki/Minnesota_State_Treasurer [^2]: Wikipedia contributors, *Minnesota State Treasurer* (revision 1375782148, retrieved 2026-10-26), section "Election and term of office" — November election, January start, no term limit, qualifications, vacancy appointment, recall and impeachment, four-year term from 1962. https://en.wikipedia.org/wiki/Minnesota_State_Treasurer [^3]: Wikipedia contributors, *Minnesota State Treasurer* (revision 1375782148, retrieved 2026-10-26), section "Powers and duties" — banker of state government; listed functions; unclaimed property before 1983. https://en.wikipedia.org/wiki/Minnesota_State_Treasurer [^4]: Wikipedia contributors, *Minnesota State Treasurer* (revision 1375782148, retrieved 2026-10-26), section "History" — 1998 Minnesota Amendment 2; abolition effective January 6, 2003; transfer to the commissioner of finance; 2009 retitling as commissioner of Minnesota Management and Budget. https://en.wikipedia.org/wiki/Minnesota_State_Treasurer [^5]: Wikipedia contributors, *Minnesota State Treasurer* (revision 1375782148, retrieved 2026-10-26), subsection "Notes on Minnesota political party names" — DFL merger of April 15, 1944; Independent-Republican name, November 15, 1975 – September 23, 1995. https://en.wikipedia.org/wiki/Minnesota_State_Treasurer