# Title 54 — State Government

## Chapter 54-11 — State Treasurer

### § 54-11-01. Duties and powers of state treasurer.

The state treasurer:
1. Shall receive and safely keep all public moneys which must be deposited into the state
treasury and pay out the same as directed by law.
2. Shall collect a record for each deposit of money into the treasury. The record must
show the amount, the source from which the money accrued, and the funds into which
it is paid. The records must be numbered in order.
3. Shall pay warrants drawn by the office of management and budget and signed by the
state auditor and state treasurer out of the funds upon which they are drawn and in the
order in which they are presented.
4. Shall keep an account of all moneys received and disbursed.
5. Shall keep separate accounts of the different funds.
6. Shall keep a record of all revenues and expenditures of state agencies and all moneys
received and disbursed by the treasurer in accordance with the requirements of the
state's central accounting system.
7. Shall receive in payment of public dues the warrants drawn by the office of
management and budget and signed by the state auditor and state treasurer in
conformity with law.
8. Shall redeem warrants drawn by the office of management and budget and signed by
the state auditor and state treasurer in conformity with law, if there is money in the
treasury appropriated for that purpose.
9. Shall maintain a report of the payment of warrants during the month. The report must
show:
a. The date and number of each warrant;
b. The fund out of which each was paid; and
c. The balance in cash on hand in the treasury to the credit of each fund.
10. Within ninety days of the beginning of each fiscal year, shall provide a report to the
budget section of the legislative assembly of all warrants and checks outstanding for
more than ninety days and less than three years.
11. At the request of either house of the legislative assembly, or of any committee thereof,
shall give information in writing as to the condition of the treasury, or upon any subject
relating to the duties of office.
12. Shall submit a biennial report to the governor and the secretary of state in accordance
with section 54-06-04. In addition to any requirements established pursuant to section
54-06-04, the report must show the exact balance in the treasury to the credit of the
state. The report also must show in detail the receipts and disbursements, together
with a summary thereof, the balances in the various funds at the beginning and ending
of the biennium, and also must show where the funds of the state are deposited. It
must be certified by the state treasurer and approved by the governor.
13. Shall authenticate with the official state seal all writings and papers issued from the
treasurer's office.
14. Shall keep and disburse all moneys belonging to the state in the manner provided by
law.
15. Shall keep books of the state treasurer open at all times for the inspection of the
governor, the state auditor, the commissioner of financial institutions, the office of
management and budget, and any committee appointed to examine them by either
house of the legislative assembly.
16. Unless otherwise specified by law, shall credit all income earned on the deposit or
investment of all state moneys to the state's general fund. This subsection does not
apply to:
a. Income earned on state moneys that are deposited or invested to the credit of the
industrial commission or any agency, utility, industry, enterprise, or business
project operated, managed, controlled, or governed by the industrial commission.

b. Income earned by the Bank of North Dakota for its own account on state moneys
that are deposited in or invested with the Bank.
c. Income earned on college and university funds not deposited in the state
treasury.
17. Shall perform all other duties as are prescribed by law.
18. Shall correct any underpayment, overpayment, or erroneous payment of tax
distribution funds, resulting from an error made by the state treasurer in a timely
manner. Unless otherwise provided by law, adjustments may be made from the
general fund. This authority is limited to one hundred dollars per biennium, unless
approved by the emergency commission. An adjustment of an insignificant amount
need not be made at the discretion of the state treasurer. The state treasurer shall
adopt a written policy identifying what is considered insignificant.
19. May work to promote access to financial education tools that can help all North
Dakotans make wiser choices in all areas of personal financial management.
### § 54-11-01.1. Bicentennial trust fund - Created - Expenditures.

The centennial commission shall transfer ten thousand dollars from its special revolving
fund to the state treasurer to be placed in a bicentennial trust fund. The principal and interest of
this fund must remain intact until transferred to the bicentennial commission on or after
January 1, 2089. If no bicentennial commission is in existence on January 1, 2089, the money in
the bicentennial trust fund must be transferred to the governor. Upon transfer to the bicentennial
commission or the governor, as the case may be, the moneys in the fund may be expended to
commemorate and celebrate the bicentennial of the state.
### § 54-11-02. Monthly warrants turned over to office of management and budget.

Repealed by S.L. 1965, ch. 181, § 33.
### § 54-11-03. Warrants - Redemption - Duty of treasurer.

Repealed by S.L. 2003, ch. 467, § 4.
### § 54-11-04. Records of state treasurer.

The state treasurer shall keep the following records:
1. A record of all moneys received or paid out, showing from whom received or to whom
paid and on what account or fund.
2. A record that must keep an account with each fund.
3. A daily balance record that must show the amount in state depositories and the
amount in cash on hand.
4. Records must be created and published via electronic devices and must be in
compliance with state audit guidelines.
These records must be disposed of in accordance with the procedures established pursuant to
chapter 54-46.
### § 54-11-05. Books and blanks furnished by state to treasurer - Kept as state records.

All checks and drafts, deposit slips, bankbooks, and other books and blanks used in the
transactions of the state treasurer for state business must be furnished by the state and must be
kept on record by the treasurer. They must be disposed of in accordance with the procedures
established pursuant to chapter 54-46.
### § 54-11-06. Irregularities in books of treasurer - Auditor to report to governor -

Temporary suspension of treasurer.
If the state auditor upon examination finds that the books of the state treasurer do not
correspond with the amount of funds on hand, or do not show the actual condition of the funds,
or if it appears to the state auditor that any moneys belonging to the state have been
embezzled, diverted, or in any manner taken from the treasury without authority of law, or that
the state treasurer has been guilty of negligence in keeping books or taking care of the public

moneys, the auditor shall certify the fact to the governor. Upon the receipt of such certificate, the
governor forthwith shall take possession of all books, moneys, papers, and other property
belonging to the state, which have come into the possession of the state treasurer by virtue of
that office, or otherwise, and shall temporarily suspend the state treasurer from that office.
### § 54-11-07. Suspension of treasurer by governor - Appointment.

When a certificate is made to the governor by the state auditor under section 54-11-06, the
governor, with the state auditor and the commissioner of financial institutions, shall examine the
books, papers, and all matters connected with the office of the state treasurer so suspended. If
it appears to the governor, state auditor, and commissioner of financial institutions on
examination that the state treasurer has embezzled or converted to the treasurer's own use the
public moneys, or has been negligent in keeping the books, or in taking care of public moneys,
the governor on the certificate of the state auditor and the commissioner of financial institutions
to that effect may remove the state treasurer and appoint another person to fill the place of the
suspended state treasurer. The person so appointed shall enter upon the office of state
treasurer as provided by law. The governor shall report the removal of the state treasurer to the
next succeeding legislative assembly. The state treasurer so appointed shall hold office until the
suspended state treasurer is reinstated or a successor is elected and qualified.
### § 54-11-08. State bonds - Registration.

Repealed by S.L. 2009, ch. 467, § 1.
### § 54-11-09. Registration of bonds vests ownership.

Repealed by S.L. 2009, ch. 468, § 1.
### § 54-11-10. Treasurer accountable for delinquencies.

If in any instance the state treasurer neglects to call to account any delinquent, whereby the
public revenue may suffer a loss, the state treasurer must be held and deemed accountable for
the sums due by such delinquent to all intents and purposes the same as if the funds actually
had been paid into the state treasurer's office.
### § 54-11-11. Purchase of warrants or accounts by state treasurer prohibited.

The state treasurer in no case may purchase or receive any warrants redeemable at the
state treasury or any audited account at a value less than is expressed therein.
### § 54-11-12. Unlawful purchases by state treasurer - Penalty.

Every person who while treasurer of this state, or the deputy or clerk of such treasurer,
directly or indirectly, buys or traffics in, or becomes a party to the purchase of, any state warrant,
order, or scrip, or any bill, account, claim, or evidence of indebtedness against the state, for any
sum less than the full face value thereof, is guilty of an infraction.
### § 54-11-13. Salary of state treasurer.

The annual salary of the state treasurer is one hundred thirty-nine thousand two hundred
fifty-six dollars through June 30, 2026, and one hundred forty-three thousand four hundred
thirty-four dollars thereafter.
### § 54-11-14. Official bond of state treasurer.

Repealed by S.L. 1999, ch. 113, § 24.
### § 54-11-15. Appointment of agents.

The treasurer may appoint agents for the purpose of receiving public funds as required by
section 12 of article X of the Constitution of North Dakota. If appointed by the state treasurer,
the Bank of North Dakota shall serve as an agent of the state treasurer for the purpose of
receiving public funds, including funds that must be deposited in higher education institution
special revenue funds.

### § 54-11-16. Criminal history record checks.

The state treasurer shall require any applicant or employee who has access to federal tax
information to submit to a statewide and nationwide criminal history record check, and
subsequent recheck within five years from the date of the previous criminal history record
check. The nationwide criminal history record check must be conducted in the manner provided
by section 12-60-24.
### § 54-11-17. Moneys in the state treasury - Management.

(Expired effective July 1, 2028)
The state treasurer in coordination with the Bank of North Dakota and the cash
management board shall review existing policies and procedures and, if necessary, develop
policies and procedures for the management of moneys in the state treasury. For purposes of
this section, moneys in the state treasury:
1. Include the general fund and special funds.
2. Exclude the veterans' postwar trust fund and funds invested by the state investment
board and the board of university and school lands.
### § 54-11-18. Cash management board - Report.

(Expired effective July 1, 2028)
1. The cash management board is created to:
a. Review existing policies and, if necessary, develop policies in coordination with
the state treasurer and the Bank of North Dakota for the management of moneys
in the state treasury.
b. Provide transparency regarding the state's consolidated financial position.
c. Identify state agency and interagency cash flow characteristics and processes.
d. Review state agency cash management technology and opportunities to improve
state cash management practices.
e. Review state agency and statewide operational cash flow requirements and
forecast cash flow needs.
f. Identify cash management practices to improve cash structures and to provide
transaction efficiencies.
2. The board shall review existing policies and, if necessary, develop policies with a goal
of managing moneys in the state treasury to ensure principal preservation and
adequate liquidity for the state's cash flow needs while maximizing total return based
on an appropriate level of statewide risk. The policies may include:
a. An appropriate tiered cash flow structure.
b. Authorization to commingle, for management purposes, moneys in the state
treasury when determined to be advantageous.
c. Prioritization to optimize cash flow structuring to align with the mission of state
agencies and the state's consolidated financial position.
3. The Bank of North Dakota shall provide staff services to the board.
4. Upon request, a state agency shall provide information to the board regarding cash
flow and liquidity needs, including projections for the timing of revenues and
expenditures.
5. The board consists of:
a. The governor or the governor's designee who shall serve as the chairman;
b. The director of the office of management and budget or the director's designee;
c. The president of the Bank of North Dakota or the president's designee;
d. Two members of the house of representatives appointed by the house majority
leader;
e. Two members of the senate appointed by the senate majority leader; and
f. The state treasurer or the state treasurer's designee.
6. Legislative members of the board are entitled to receive compensation and expense
reimbursement as provided under section 54-03-20 and reimbursement for mileage as
provided by law for state officers. The legislative council shall pay the compensation
and expense reimbursement for the legislative members.
7. The board shall provide at least one report each fiscal year to the budget section.
