KATE MARSHALL
Incumbent
Party: Democrat
Mailing Address: Post Office Box 40944 Reno, NV 89504
Telephone: (775) 823-9007
E-mail: kate@marshallfornevada.com
Explain your background and how this qualifies you for the position you are seeking.
I have served as Nevada's state treasurer for the past four years, and under my leadership, the assets of Nevada taxpayers have been protected, more unclaimed property has been returned to rightful owners and more families are saving for college. I have saved Nevada taxpayers millions in reduced fees, have cut expenses in my office returning more than 16 percent of my budget to the General Fund, and the budget I've submitted for the next biennium cuts another 15 percent. Since taking office, Nevada's investment portfolios have earned more than $305 million in interest, about $85 million more than the predicted benchmarks for good performance. Even in bad years, our investments have been safe, and in 2009, our portfolio outperformed Warren Buffett's. My background analyzing markets and prosecuting white-collar criminals for the Department of Justice under Presidents Bush and Clinton and as the Senior Deputy Attorney General in Nevada heading up the antitrust division gives me a unique understanding of the treasurer's office. I will continue to be a steady hand and strong leader in efforts to turn the economy around and get more Nevadans working and prosperous again.
What are the most important issues that you would address if elected?
I have proposed a new way to restructure Nevada's unemployment payments to the federal government that would save Nevada businesses millions of dollars and reduce the rate of repayment in the next few years, providing Nevada businesses much needed relief. This effort has received support from chambers of commerce, trade associations and businesses leaders from across the state. I have a bill draft to allow for easier access to loans for small businesses without any additional risk to the state. My bill would establish a loan program for Nevada entrepreneurs in partnership with Nevada's banks for those small businesses working to diversify the state economy. Another priority is to work with the Legislature to find a lasting solution to funding the Gov. Guinn Millennium Scholarship Program. My efforts and advice have led to the continuation of the popular program despite several decisions to take scholarship funds to support the General Fund. Because of my leadership, 25,000 students are using the Millennium Scholarship for the current school year and it is critical we find a permanent funding solution to this important program.
Why should voters choose you over other candidate?
When first elected, I called for an audit of the Treasurer's Office that revealed millions of dollars in off-the-books accounts and no-bid contracts under my predecessor, practices that I immediately put a stop to. I have brought a new level of transparency to the Treasurer's Office to give Nevadans confidence that the state's investments are both secure and profitable. During my tenure, our state's investments have outperformed several major money managers and at a time when states around us have been issuing IOUs, Nevada's investment portfolio has beaten the benchmarks and seen positive returns year after year. I have saved taxpayers millions in reduced expenses and fees and continue to improve efficiencies and offer innovative solutions to improve the investment and economic health of our state. I have negotiated fee reductions for thousands of Nevadans participating in the state's College Savings Programs. Our College Savings Programs rank in the top 10 nationally and I have helped more than 100,000 families start to save for their children's future. I will continue to work hard for the people of Nevada to ensure a brighter future for all of us.
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STEVEN E. MARTIN
Party: Republican
Mailing Address: 7700 W Wigwam Ave, Las Vegas, NV 89113
Telephone: 702-595-2643
E-mail: Steve@MartinForTreasurer.com
Explain your background and how this qualifies you for the position you are seeking.
The short answer is that I am a CPA and the incumbent is a lawyer. That is why three former governors and four former state treasurers support my candidacy. However, there is much more to that question. As a Certified Public Accountant with 30 years of experience I regularly evaluate business performance, and what is required to improve that performance. As a Certified Valuation Analyst, I understand the issues key to making sound investment decisions. The current treasurer lost $50 million in investments, and there are many issues involving the disclosure of how and what happened, and some of the long-term effects.
In 2006, as state controller, I was responsible for the annual state financial report. I also coordinated the redesign of the computer back-up system for the state's accounting system. The office manages the College Savings Plan, the Millennium Scholarship, and the Prepaid Tuition Plan. The office needs a professional that understands education. I have a master's degree in accounting and was an adjunct professor of accounting.
In 2009, Governor Gibbons appointed me to the State Board of Finance. The office deserves someone that can step in and make an immediate impact on the office operations.
I have been married to Gail for 38 years. As Marine for 12 years, I advanced quickly from enlisted man and officer, attaining the rank of major. And received a top secret clearance.
What are the most important issues that you would address if elected?
One of the missions of the treasurer's office is to provide prudent and professional financial and fiscal leadership to the state. No one else has that experience. You can hire all of the experts you want to provide advice, but if you do not have the essential training and experience, you do not have a clue whether the advice being provided is good or bad. There is a need to put transparency and financial accountability into the state, as well as the Treasurer's Office. We need to put the state's checkbook online for all to see.
As a CPA with 30 plus years of business, accounting and management experience, I understand accounts receivables, accounts payables, payroll, financial statements, cash flow analysis and projections. We need someone with audit experience, who can identify problems in the unclaimed property.
A true accounting of the Millennium Scholarship and the Prepaid Tuition Plan is needed. Formerly an adjunct professor, I understand these issues. As a fraud investigator, we need to examine the states accounting record, since little fraud has been detected, ever though billions of dollars pass through the state treasurer's office.
Why should voters choose you over other candidate?
My opponent is a lawyer with no accounting training or experience. I am the only candidate with financial qualifications. My experiences also provide a broad base from which to draw. If I were running for the position of Nevada's attorney general, everyone would point to my lack of training and experience in law, as a disqualification for that office. The same principle applies to the treasurer. Nevada needs someone with a financial background in the office. We need to be proactive in the pursuit of fraud, waste and abuse in government. We need to design investigative programs to achieve this goal. I have that experience.
We need to revamp the Unclaimed Property Program by putting in state-of-the-art auditing programs to generate more money for the general fund. I have audit experience. We need to look at the possibility of sales and leaseback of government assets. We need to encourage businesses to come to Nevada; this is the only way to truly create a recovery for Nevada. We need to be creative on the education front, by providing more money directly to the classroom, with less overhead.