LETTER: Legislature thwarts voters’ will by denying funding for state treasurer

One hundred and seventy-one—that’s not only the age of Wisconsin, but also the age of its state treasurer’s office. This constitutional office has been serving Wisconsinites since the very beginning.

Yet over the past decade there have been numerous attempts to diminish the role of the treasurer, eroding important checks and balances. The final straw came last year, when lawmakers sought to permanently remove this office from our Constitution. Wisconsinites, in response, voted overwhelmingly to preserve it.

After I worked with a bipartisan coalition to save the office, I was elected to it, knowing I would have to roll up my sleeves and rebuild it from the ground up.

But even I was surprised at how big a task that would be.

I walked into my office for the first time on Jan. 6. The office did not have internet, the phones were disconnected and cords were hanging from the ceiling. I was, and still am, the only employee in this statewide office with a total budget of $113,500.

There is no excuse for this wanton neglect of our state’s chief fiscal watchdog. The treasurer’s office is self-funded, operating on revenue generated by programs it supports or administers. But the elected treasurer cannot access these millions of dollars of program revenue to carry out the responsibilities of the office because access to these funds requires legislative approval.

There are 17 statutory responsibilities the state treasurer’s office is required to fulfill, including the investment of public money. I have taken steps to better carry out these responsibilities. For example, through my work as chair of the school trust funds, which amount to $1.2 billion, a climate change gag order and ban on renewable energy funding have been lifted. In 2018, these trusts returned $36 million to fund schools and libraries.

The governor has proposed essential funding for the treasurer’s office that will help protect tax dollars and build a stronger economy. But the Legislature’s GOP-dominated Joint Finance Committee recently voted to remove it.

I hope the prevailing politics holding up this office’s budget will soon be put aside. Let your legislators know that you support adequate funding for an office the voters of Wisconsin acted to protect.
Sarah Godlewski is Wisconsin’s state treasurer.