Rutland City Treasurer Wendy Wilton filed her petition to run for Vermont state treasurer today with the Vermont Secretary of State. Wilton had previously announced her intent to run in May.Wilton is challenging incumbent Democrat Beth Pearce, who was appointed state treasurer by Governor Peter Shumlin. Former Treasurer Jeb Spaulding was named by Shumlin to be Secretary of the Agency of Administration in 2010.
She made the following brief announcement outside the Secretary of State's office:
"As a native of South Burlington, a UVM graduate, and Rutland City resident I am pleased to submit my name for election to the office of state treasurer. My prior professional experiences as a banker, business adviser, state senator and city treasurer have led me to this moment. I am concerned about the direction of our great state and it is my hope that Vermonters will agree this November that my skills and talents are the best fit for the office of state treasurer.
I am seeking the office of state treasurer because I am concerned about the independence of the office and poor ratings regarding transparency and accountability. The state of Vermont recently received a D minus from US Public Interest Research Group, relating to state spending disclosure. That needs to change.
An independently elected treasurer is the intention of our state constitution. The key task of the state treasurer is to communicate to the governor and legislature that we need to satisfy our prospective creditors, we are living within our means, and we are completely transparent about our finances. It is imperative that the treasurer be as independent as possible from influence to truly represent the electorate. As City Treasurer I am an elected official. I have demonstrated the importance of the independence of the office, especially with the application of compliance matters or communication to the public about the City's most important fiscal challenges. I will do the same for the state of Vermont.
Transparency and accountability were crucial elements of the recent fiscal success of the City of Rutland. Under my leadership the City received the first unqualified or â clean’audit opinion in 32 years. We reversed a $5 million deficit to a $3.8 million positive fund balance in 5 years. Timely financial reporting and access to information for policymakers, management and the public have been cornerstones of our improvement. I will do the same for the state of Vermont; at a very minimum the public deserves to see 'checkbook' level disclosure of state expenditures.
Transparency with regard to our most serious fiscal challenges will lead to greater accountability. Our most immediate significant challenge is $3 billion in unfunded pension and retiree health care liabilities, which have been recently discussed by many concerned individuals. We owe it to our state employees, teachers, and taxpayers to manage the funds entrusted to state government so the money will be there when the commitments come due.
Unsustainable increases in certain budget areas, excessive reliance on federal funding, and systemic deficits in the stateâ s general fund are also significant problems, which will further hamper the stateâ s ability to make good on the unfunded liabilities. More direct communication on fiscal matters is important to achieve solutions.
Current and future fiscal challenges of our nation, our state, and our local communities will demand strong leadership, whether mandated by future compliance standards or the public. I have demonstrated a commitment to these principles throughout my leadership in the City of Rutland. If Vermonters choose me as their state treasurer I will serve my native state as an independent voice for transparency and accountability in the state's financial matters, as I have done in Rutland."
Source: June 12, 2012
Wilton files petition to run for state treasurer
Submitted by tim
on