New Mexico Treasurer
| New Mexico State Treasurer | |
| General information | |
| Office Type: | Partisan |
| Office website: | Official Link |
| Compensation: | $85,000 |
| 2024 FY Budget: | $4,689,300 |
| Term limits: | Two consecutive terms |
| Structure | |
| Length of term: | 4 years |
| Authority: | New Mexico Constitution, Article V, Section I |
| Selection Method: | Elected |
| Current Officeholder | |
New Mexico Treasurer
Laura Montoya | |
| Elections | |
| Next election: | 2026 |
| Last election: | 2022 |
| Other New Mexico Executive Offices | |
| Governor • Lieutenant Governor • Secretary of State • Attorney General • Treasurer • Auditor • Commissioner of Public Lands • Secretary of Education • Agriculture Secretary • Insurance Superintendent • Secretary of Energy, Minerals and Natural Resources • Secretary of Workforce Solutions • Public Regulation Commission • Public Education Commission | |
The New Mexico Treasurer is an elected state executive position in the New Mexico state government. The treasurer is the chief financial officer of the government of New Mexico.
The treasurer is responsible for providing banking assistance and services to state agencies. Additionally, the treasurer manages and invests the state's operating cash, acts as paying agent on the state's outstanding debt and bonds, and enforces the state's collateral policy on financial institutions holding state money.[1]
The treasurer is elected every four years and is term-limited to two consecutive terms.
Current officeholder
The current New Mexico Treasurer is Laura Montoya (D). Montoya assumed office in 2023.
Authority
The treasurer's establishment and authority is derived from Article V, Section 1 of the New Mexico Constitution.
Article V, Section 1:
| The executive department shall consist of a governor, lieutenant governor, secretary of state, state auditor, state treasurer, attorney general and commissioner of public lands ...[2] |
Qualifications
Article V, Section 3 of the New Mexico Constitution establishes the qualifications of the office:
| No person shall be eligible to any office specified in Section One, hereof, unless he be a citizen of the United States, at least thirty years of age, nor unless he shall have resided continuously in New Mexico for five years next preceding his election ...[2] |
- A U.S. citizen.
- At least 30 years of age.
- Have resided continuously in New Mexico for five years preceding the election.
Elections
New Mexico elects treasurers in the midterm elections, that is, even years that are not presidential election years. For New Mexico, 2022, 2026, 2030, and 2034 are all treasurer election years.[2]
2022
- See also: New Mexico Treasurer election, 2022
General election
General election for New Mexico Treasurer
Laura Montoya defeated Harry Montoya in the general election for New Mexico Treasurer on November 8, 2022.
Candidate | % | Votes | ||
| ✔ | Laura Montoya (D) | 53.1 | 370,089 | |
| Harry Montoya (R) | 46.9 | 326,224 | ||
| Total votes: 696,313 | ||||
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Democratic primary election
Democratic primary for New Mexico Treasurer
Laura Montoya defeated Heather Benavidez in the Democratic primary for New Mexico Treasurer on June 7, 2022.
Candidate | % | Votes | ||
| ✔ | Laura Montoya | 58.7 | 75,538 | |
 | Heather Benavidez | 41.3 | 53,148 | |
| Total votes: 128,686 | ||||
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Republican primary election
Republican primary for New Mexico Treasurer
Harry Montoya advanced from the Republican primary for New Mexico Treasurer on June 7, 2022.
Candidate | % | Votes | ||
| ✔ | Harry Montoya | 100.0 | 91,766 | |
| Total votes: 91,766 | ||||
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2018
- See also: New Mexico Treasurer election, 2018
General election
General election for New Mexico Treasurer
Incumbent Tim Eichenberg defeated Arthur Castillo in the general election for New Mexico Treasurer on November 6, 2018.
Candidate | % | Votes | ||
| ✔ | Tim Eichenberg (D) | 57.9 | 394,780 | |
| Arthur Castillo (R) | 42.1 | 286,822 | ||
| Total votes: 681,602 | ||||
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Democratic primary election
Democratic primary for New Mexico Treasurer
Incumbent Tim Eichenberg advanced from the Democratic primary for New Mexico Treasurer on June 5, 2018.
Candidate | % | Votes | ||
| ✔ | Tim Eichenberg | 100.0 | 141,227 | |
| Total votes: 141,227 | ||||
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Republican primary election
Republican primary for New Mexico Treasurer
Arthur Castillo advanced from the Republican primary for New Mexico Treasurer on June 5, 2018.
Candidate | % | Votes | ||
| ✔ | Arthur Castillo | 100.0 | 65,813 | |
| Total votes: 65,813 | ||||
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2014
| New Mexico Treasurer, 2014 | ||||
|---|---|---|---|---|
| Party | Candidate | Vote % | Votes | |
| Democratic |  Tim Eichenberg |
52.5% | 261,203 | |
| Republican | Rick Lopez | 47.5% | 236,699 | |
| Total Votes | 497,902 | |||
| Election results via New Mexico Secretary of State | ||||
Term limits
The state treasurer is limited to serving two consecutive four-year terms.[2]
Vacancies
Details of vacancy appointments are addressed under Article V, Section 5 of the New Mexico Constitution. In the event of a vacancy, the governor fills the position by appointment. The appointee serves until the next general election.[2]
Duties
The treasurer is the chief financial officer of the state and is responsible for providing banking assistance and services to state agencies. Additionally, the treasurer manages and invests the state's operating cash, acts as paying agent on the state's outstanding debt and bonds, and enforces the state's collateral policy on financial institutions holding state money. Additional duties include, but are not limited to:[3]
- Disbursing public money upon warrants drawn according to law;
- Keeping a comprehensive account of all money received and disbursed; and
- Reporting the condition of the treasury to the state legislature at the start of each regular session.
Divisions
The state treasurer's office consists of the following divisions:[4]
- Budget & Finance
- Cash Management
- Investments
- Operations/Forfeiture
State budget
- See also: New Mexico state budget and finances
The budget for the State Treasurer's Office in Fiscal Year 2024 was $4,689,300.[5]
Compensation
- See also: Compensation of state executive officers
The salaries of state executive officers are established by the New Mexico State Legislature as mandated in the state constitution. Article V, Section 12 of the New Mexico Constitution established initial salaries for constitutional officers with the state legislature able to adjust these salaries starting in 1922, which was 10 years after the state's admission to the United States.[2]
2022
In 2022, the officer's salary was $85,000, according to the Council of State Governments.[6]
2021
In 2021, the treasurer received a salary of $85,000, according to the Council of State Governments.[7]
2020
In 2020, the treasurer received a salary of $85,000, according to the Council of State Governments.[8]
2019
In 2019, the treasurer received a salary of $85,000, according to the Council of State Governments.[9]
2018
In 2018, the treasurer received a salary of $85,000, according to the Council of State Governments.[10]
2017
In 2017, the treasurer received a salary of $85,000, according to the Council of State Governments.[11]
2016
In 2016, the treasurer received a salary of $85,000, according to the Council of State Governments.[12]
2015
In 2015, the treasurer received a salary of $85,000, according to the Council of State Governments.[13]
2014
In 2014, the treasurer received a salary of $85,000, according to the Council of State Governments.[14]
2013
In 2013, the treasurer received a salary of $85,000, according to the Council of State Governments.[15]
2010
In 2010, the treasurer received a salary of $85,000, according to the Council of State Governments.[16]
Historical officeholders
Note: Ballotpedia's state executive officials project researches state official websites for chronological lists of historical officeholders; information for the New Mexico Treasurer has not yet been added because the information was unavailable on the relevant state official websites, or we are currently in the process of formatting the list for this office. If you have any additional information about this office for inclusion on this section and/or page, please email us.
Recent news
The link below is to the most recent stories in a Google news search for the terms New Mexico State Treasurer. These results are automatically generated from Google. Ballotpedia does not curate or endorse these articles.
Contact information
Phyiscal address:
2055 South Pacheco Street, Stes. 100 & 200
Santa Fe, NM 87505
Mailing address:
PO Box 5135
Santa Fe, NM 87502
Phone: 505-955-1120
Email: Contact form
See also
| New Mexico | State Executive Elections | News and Analysis |
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External links
Footnotes
- ↑ New Mexico State Treasury, "What the Treasurer's Office DOES," accessed Jan. 29, 2021
- ↑ 2.0 2.1 2.2 2.3 2.4 2.5 Office of the New Mexico Secretary of State, "NM Constitution," accessed Jan. 27, 2021
- ↑ Justia, "NM Stat § 8-6-3 (2019)," accessed Jan. 29, 2021
- ↑ New Mexico State Treasurer's Office, "Divisions of the State Treasurer's Office," accessed Jan. 29, 2021
- ↑ New Mexico State Legislature, "New Mexico General Appropriation Act of 2023," accessed December 6, 2023
- ↑ Council of State Governments, "Book of the States 2022 Table 4.11: Selected State Administrative Officials: Annual Salaries," provided to Ballotpedia by CSG personnel
- ↑ Issuu, "The Book of the States 2021," accessed September 28, 2022
- ↑ Issuu, "The Book of the States," Sept. 30, 2020
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2019," accessed Jan. 27, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2018," accessed Jan. 27, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2017," accessed Jan. 27, 2021
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2016," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries, 2015," accessed August 27, 2016
- ↑ Council of State Governments, "Selected State Administrative Officials: Annual Salaries," accessed December 3, 2014
- ↑ Council of State Governments, "Table 4.11 Selected State Administrative Officials: Annual Salaries," accessed January 31, 2014
- ↑ The Council of State Governments, "The Book of States 2010 Table 4.11," accessed June 22, 2011
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