State Financial Officers Foundation CEO OJ Oleka noted in his Wall Street Journal op-ed the foolishness of Minnesota’s decision to eliminate its State Treasurer position with effect ‘way back in 2003. Supporters insisted that the position was purely clerical and so not worth the million dollars a year cost. Instead, the position’s responsibilities were scattered around to other State agencies. Oleka added
When no statewide official is clearly responsible for safeguarding public money, taxpayers pay the price.
Like with the multi-billion dollar Medicaid fraud that’s being uncovered in Minnesota. Only it’s not just the citizens of Minnesota who are paying that price; it’s all of us citizens all across these United States.
Oleka also pointed out the value of having someone in charge of watchdogging a State’s public money.
Across the states, financial officers are proving that vigilance works. Kentucky Auditor Allison Ball uncovered $800 million in wrongful Medicaid payments. North Carolina Treasurer Brad Briner found $170 million in unspent funds, while Iowa’s Roby Smith delivered a record $469 million return on investments that help fund state services.
There’s another factor here, though. Every one of those officials are Republicans.
Hmm….
