Treasurer
Rob Richardson (D) |
Robert Sprague (R) |
Bio: Education Bachelor's in Electrical Engineering, University of Cincinnati Juris Doctor, UC Law Training and Experience I believe my most relevant experience is my nine years on the University of Cincinnati's Board of Trustees, where I capped my tenure as Chair. Over that time we experienced record financial growth and enrollment. |
Bio: Education Duke University, BSA Mechanical Engineering MBA University of North Carolina, emphasis in finance Training and Experience State representative - appointed 2011, elected 2012, 2014 and 2016 Auditor, City of Findlay - elected 2008 Treasurer, City of Findlay - elected 2004 Principal, Vasa Capital, Findlay Ohio 2005 Owner, Talus Technology, Atlanta GA 1998 Ernst and YoungNo Response |
What are the most important functions of the state treasurer and why? The state treasurer is essentially the state's banker, responsible for overseeing all financial transactions of the state government. In 2017 the Treasurer's office managed more than $224 billion in financial assets, including more than $21.5 billion in state investments. This has tremendous influence on the economy and overall health of Ohio, and it affects everyone regardless of political affiliation. These are essential, baseline functions the treasurer must perform to maintain stability, but I believe the state treasurer can do more than just the bare minimum. As treasurer, I plan to enact policies that hold the powerful accountable and expand opportunities for all Ohioans. |
What are the most important functions of the state treasurer and why? The Treasurer's power to issue debt is extremely important because it is the intersection between private capital markets and the government. I have a plan to unlock creativity in the private market to help fight the opiate epidemic, infant mortality and other societal ills through the standardization of Social Impact Bonds (SIBs). SIBs foster partnerships between the public and private sectors, where the private market develops new programs, but the public sector only pays if the new programs can be proven to deliver results. This innovative financial tool will bring the private sector to the table in a meaningful way and introduce a new funding stream to the effort to tackle Ohio's most pressing problems. I encourage readers to visit SpragueForOhio.com/vision to find a more detailed overview of how I plan to use the Treasurer's office to make a positive and meaningful difference in the lives of Ohioans. |
What recommendations do you have to improve operations in the treasurer's office? Given the importance of the treasurer's role to our state's economic well-being, it's crucial to maintain an office that runs as efficiently as possible. While I don't necessarily foresee any major overhauls to the office's operations, I want to stress that I will only be hire staff of the highest caliber who have gone through a strict vetting process. If any area of the office is performing in a substandard manner I will immediately work to see that the issue is corrected. |
What recommendations do you have to improve operations in the treasurer's office? As an international business consultant for Ernst & Young, I was trained to evaluate companies’ operations, find efficiencies and improve their internal processes. Once I am elected, I plan to use this experience to do an in-depth evaluation of the office and the programs the Treasurer manages to ensure we are achieving the highest quality outcomes at the most effective cost for taxpayers. Ohio’s Online Checkbook and STABLE Account Program are two areas where I believe we can achieve greater fiscal efficiencies and drive down administrative costs by actively working to expand participation in the programs to individuals and entities both in and out of state. As Treasurer, I will also use the knowledge gained in both the private sector and as a member of the Ohio House Finance Committee to keep our office operating costs in-check through regular internal budget evaluations. |
How can the treasurer’s office influence state fiscal policy? Contrary to popular belief, the treasurer does not create or control the state's budget. As treasurer I wouldn't have discretion over state spending and couldn't affect taxes. However, I would administer the State Treasury Asset Reserve of Ohio (STAR Ohio), an investment fund that allows government subdivisions—from municipalities to school districts—to invest funds in a highly rated public investment pool. STAR Ohio has a AAA S&P rating and a record of high returns, and if elected I will encourage counties, schools, municipalities, et. al. to invest. As treasurer, I would also appoint members to Ohio's public pension boards. Anyone I appoint to a pension board will share my values of responsible investment, push for investing in entities that bring more jobs to Ohio, and work to divest from companies that actively harm Ohioans--e.g. private, for-profit prisons. |
How can the treasurer’s office influence state fiscal policy? As a member of the House Finance Committee during the last three state budget negotiations, I have a keen understanding of state fiscal policy and the often difficult financial decisions we face. As Treasurer, I believe that I can have an impact by promoting innovative financial tools designed to deliver cost savings. For example, applying the Social Impact Bonds model described above to the heroin epidemic would mean investments in programs that produce better recovery rates than the programs the state is currently funding. Increasing our recovery rates means healthier Ohioans and could in turn help reduce spending for Medicaid, Child & Protective Services and Corrections, all areas that have been put under increasing pressure as a result of this crisis. By forming strategic partnerships with the private sector, we can improve government efficiency from the outside in and have a lasting, positive effect on how we approach state fiscal policy. |
*Neither candidate responded to our survey. These answers are taken from the League of Womens Voter Guide*
http://www.lwvcincinnati.org/
http://www.lwvcincinnati.org/