General Assembly re-elects Tennessee Treasurer and Comptroller
The opening week of the 111th General Assembly was also marked by re-election of two of the state’s three constitutional officers, Treasurer David Lillard and Comptroller Justin Wilson. The state’s constitution provides that the legislature selects both of these officers in a joint session of the Senate and House of Representatives during the organizational session of each General Assembly. The comptroller audits state agencies and county governments to ensure they are run well, while the treasurer keeps track of the state’s coffers, its investments and its pension funds.
The third constitutional officer is the Secretary of State, who is elected every four years. Secretary Hargett is currently beginning his third year of a four-year term. He conducts a wide variety of duties, including keeping all acts and resolutions adopted into law. All three of the officers have served the State of Tennessee since 2009.
Tennessee holds the highest bond rating issued by all three major credit rating agencies, reflecting the strong confidence they have that the state has the capacity to meet its financial commitments. In addition, the state’s pension plan has been rated among the top five best-funded state plans in the U.S.
The three constitutional officers serve on several key boards together, such as the State Building Commission, which maintains all state-owned public buildings; the Funding Board, which helps guide budgeting; and the Tennessee Housing Development Agency, which helps provide citizens with affordable housing.