New Mexico State Treasurer

No person may be elected state treasurer other than a United States citizen of at least 30 years of age who has resided continuously in New Mexico for five years preceding the election.{{Cite web|url=https://nmonesource.com/nmos/c/en/item/5916/index.do#!fragment/zoupio-_Toc92097872/BQCwhgziBcwMYgK4DsDWszIQewE4BUBTADwBdoAvbRABwEtsBaAfX2zgE4AmABg4HYAHPy4BKADTJspQhACKiQrgCe0AORrxEQmFwIFS1Rq069IAMp5SAIVUAlAKIAZBwDUAggDkAwg-GkwACNoUnZRUSA|title=Article V, Section 3, Constitution of New Mexico|publisher=New Mexico Compilation Commission|access-date=February 7, 2022}} The state treasurer is elected to a four-year term and is able to serve up to two consecutive terms; more terms may be served after one full term has intervened.{{cite web|title=About NMOSA|url=http://www.saonm.org/about_nmosa|publisher=New Mexico Office of the State Auditor|access-date=May 3, 2013}}

The state treasurer is the chief banker and investment officer for the state of New Mexico. As such, the state treasurer receives payments made to the state, deposits sums received with authorized depository institutions, accounts for and manages the state's cash flows, services principal and interest payable on state debt, and disburses public monies in redemption of warrants drawn on state funds.{{Cite web|url=https://nmsto.gov/about-the-treasurer/what-the-treasurers-office-does/|title=What the Treasurer's Office Does|publisher=New Mexico Office of the State Treasurer|access-date=July 27, 2022}} Other programs have been assigned to the state treasurer by law. For example, the state treasurer administers New Mexico's tax-advantaged ABLE and retirement savings programs.{{Cite web|url=https://nmsto.gov/special-programs/able-act/|title=ABLE New Mexico|publisher=New Mexico Office of the State Treasurer|access-date=July 27, 2022}}{{Cite web|url=https://nmsto.gov/special-programs/work-and-save/|title=Work and Save|publisher=New Mexico Office of the State Treasurer|access-date=July 27, 2022}} Likewise, the state treasurer is responsible for the investment of the state's operating funds and local government investment pool which, at the close of the 2023 fiscal year, totaled approximately $17 billion in terms of assets under management.{{Cite report|url=https://nmsto.gov/wp-content/uploads/2024/04/NMSTO-Annual-Report-FY-2023.pdf|title=Annual Report of the Office of the State Treasurer for Fiscal Year 2023|publisher=New Mexico State Treasurer's Office|page=3|access-date=November 8, 2024}}

Functional responsibilities aside, the state treasurer chairs the State Treasurer's Investment Committee, which prescribes investment policies for the state treasury and evaluates the performance of its portfolio. Likewise, the state treasurer is an ex officio voting member of the following boards and commissions:{{Cite web|url=https://nmsto.gov/about-the-treasurer/boards-commissions/|title=Boards and Commissions|publisher=New Mexico Office of the State Treasurer|access-date=July 27, 2022}}

1. Capitol Buildings Planning Commission: An intergovernmental agency administratively housed in the State Legislature which is charged with conducting studies and making plans for the long-range facility needs of state government.{{Cite report|url=https://www.nmlegis.gov/sessions/interimcommittees/cbpc/CBPC-Primer-Update-2023-05-19.pdf|title=Introduction to the Capitol Buildings Planning Commission: CBPC Update 2023|publisher=New Mexico Legislature|publication-date=May 2023|access-date=December 11, 2024|pages=1-2}}
2. Educational Retirement Board: An independent agency responsible for managing the pension benefits of both active and retired employees at New Mexican public schools, institutions of higher learning, and certain employees at state agencies who work in educational programs.{{Cite web|url=https://www.erb.nm.gov/who-we-are/|title=Who We Are|publisher=New Mexico Educational Retirement Board|access-date=December 11, 2024}}
3. New Mexico Educational Assistance Foundation: A private nonprofit corporation created by the State Legislature in 1981, the Foundation provides student loans to New Mexicans pursuing a higher education at public universities and community colleges.{{Cite web|url=https://www.nmeaf.org/about/|title=About NMEAF|publisher=New Mexico Educational Assistance Foundation|access-date=December 11, 2024}}
4. New Mexico Martin Luther King, Jr. Commission: An independent agency created in 1991 "...to develop, promote, coordinate and review statewide plans and activities for the annual commemoration and celebration of the birthday of Martin Luther King, Jr."{{Cite web|url=https://nmmlksc.org/about-us/|title=About Us|publisher=New Mexico Martin Luther King, Jr. Commission|access-date=December 11, 2024}}
5. New Mexico Mortgage Finance Authority: A self-supporting quasi-governmental entity that provides financing to make quality affordable housing and other related services available to low- and moderate-income New Mexicans.{{Cite web|url=https://housingnm.org/about-mfa/housing-new-mexico|title=About Housing New Mexico|publisher=New Mexico Mortgage Finance Authority|access-date=December 11, 2024}}
6. New Mexico Retiree Health Care Authority: An independent agency established in 1990 to provide health care coverage to retirees of state agencies and approximately 300 other eligible participating public entities including cities, counties, universities and charter schools.{{Cite web|url=https://www.nmrhca.org/about-us/|title=About Us|publisher=New Mexico Retiree Health Care Authority|access-date=December 11, 2024}}
7. Public Employees Retirement Association of New Mexico: An independent agency that administers a defined benefit plan for all active and retired public-sector employees, aside from employees of educational service agencies covered by the Educational Retirement Board.{{Cite web|url=https://www.nmpera.org/for-members/|title=For Members|publisher=Public Employees Retirement Association of New Mexico|access-date=December 11, 2024}}
8. Renewable Energy Transmission Authority: A quasi-governmental entity which facilitates the development of electric transmission and storage projects.{{Cite web|url=https://nmreta.com/about/|title=About|publisher=New Mexico Renewal Energy Transmission Authority|access-date=December 11, 2024}}
9. State Board of Finance: An oversight body housed within New Mexico's Department of Finance and Administration, the State Board of Finance has "...general supervision of the fiscal affairs of the state."{{Cite web|url=https://www.nmdfa.state.nm.us/board-of-finance/|title=Board of Finance Division|publisher=New Mexico Department of Finance and Administration|access-date=December 11, 2024}} To this end, the Board designates depository institutions eligible to safekeep state deposits, authorizes the issuance of state bonds, manages the state debt, approves interfund transfers, and prescribes rules and regulations for keeping cash accounts and remitting state agency receipts to the state treasurer for deposit, among other responsibilities.{{Cite web|url=https://nmonesource.com/nmos/nmsa/en/item/4381/index.do#6-1-1|title=6-1-1, New Mexico Statutes Annotated|publisher=New Mexico Compilation Commission|access-date=December 11, 2024}}
10. State Investment Council: An independent agency which directs and administers the investment of New Mexico's four permanent funds: the Land Grant Permanent Fund, the Severance Tax Permanent Fund, the Tobacco Settlement Permanent Fund, and the Water Trust Fund. The State Investment Council is in practice a sovereign wealth fund.{{Cite web|url=https://www.sic.state.nm.us/about-the-sic/|title=About the SIC|publisher=New Mexico State Investment Council|access-date=December 11, 2024}}

The Office of the State Treasurer has been the subject of multiple corruption scandals in recent decades.{{cite web|url=http://abqjournal.com/news/state/403255nm10-30-05.htm|title=Treasurer's Office has a Corrupt Past|author=Colleen Heild|date=October 30, 2005|access-date=September 23, 2015}} In 1975 Treasurer Jesse D. Kornegay pleaded guilty to perjury charges and served time in federal prison.{{cite web|url=http://www.santafenewmexican.com/news/local_news/officials-behaving-badly-a-look-back-at-the-misdeeds-of/article_5236e7bf-293f-51dd-8f93-f7e739511697.html|title=Officials behaving badly: A look back at the misdeeds of New Mexico public officials|date=December 15, 2015|access-date=December 15, 2015}} Again in 1985, Treasurer Earl Hartley pleaded guilty to malfeasance in office related to the diversion of funds from a treasurer's conference to his personal account. His deputy, Ken Johnson, was also arrested in December 1984 and pleaded guilty in 1985 to extortion. Hartley resigned from the office in 1985 and was succeeded by James B. Lewis, an appointee of Governor Toney Anaya.

Treasurer David King testified against one of his office's division managers, Joseph O. Garcia, who was charged with bribery of a public official after offering King a bribe for investment activities. Later in 2005, Treasurer Michael A. Montoya pleaded guilty to federal charge of extortion, and in 2007 he also pleaded guilty to a state charge of racketeering. A Democrat, he served four years in prison. Most recently in 2006, Treasurer Robert E. Vigil was convicted of one count of attempted extortion and was acquitted of 23 counts of extortion and racketeering with regard to the investment of state funds. He served time in Federal prison. Robert E. Vigil was a protege of Michael A. Montoya. Robert Vigil resigned in December 2005 and was succeeded by Doug Brown, who was appointed by Governor Bill Richardson.{{cite web|url=http://lubbockonline.com/stories/102705/nat_102705043.shtml#.VgLyLsu6dhE|title=Despite denying extortion charge, State Treasurer Resigns in NM|date=October 27, 2005|access-date=September 23, 2015}}

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• [https://www.nmsto.gov/ State Treasurer of New Mexico]

{{New Mexico}}

{{U.S. State Treasurers}}

{{New Mexico statewide elected officials}}