Michael Pakko
1. Why are you running for Treasurer?
The State Treasurer is an independently elected constitutional officer of the state, effectively serving as the state's banker--taking in revenues from taxes and fees, disbursing funds as authorized by the legislature, and managing a portfolio of over $11 billion of the state's assets. I decided to run for State Treasurer when I realized that I was in a position to do so and that my background and experience uniquely qualified me to serve the people of Arkansas is this elected office.
2. What qualifications make you the best candidate for treasurer?
I am an economist by profession. I have a PhD in economics and my career has included 20 years working in the Federal Reserve System, so I am familiar with issues of banking and finance. For the past 15 years, I have served as Chief Economist and State Economic Forecaster at the UALR Arkansas Economic Development Institute. In that capacity, I am widely considered to be an expert on the Arkansas economy.
3. What do you think should be changed or revisited by the office?
My top priority is to bring more open analysis of the state's finances to the people of Arkansas--a platform I call "fiscal transparency." I can elaborate more in response to follow-up questions.
In addition, I plan to convene a panel of experts to evaluate the state's investment strategy and policies. The last comprehensive analysis was done in 2019, and it would be prudent to revisit this fundamental responsibility on a regular basis.
As a lifelong educator and supporter of economic and financial education, I'm also enthusiastic about helping to facilitate the mission of the Arkansas Financial Education Commission. Established by legislation in 2021, with the State Treasurer designated as Chair, the mission of the AFEC is to make educational resources available to all Arkansans--helping people successfully navigate our complex financial world.
4. How do you plan to keep constituents informed?
My plan for fiscal transparency calls for enhancing the public communications aspect of the Treasurer's office by expanding the quantity and quality of information shared via the website and other public announcements. The State Treasurer is in a unique position to explain to the taxpayers of Arkansas where ALL of their tax dollars are going (and where they are coming from, for that matter). I intend to bring a more public-facing posture to the Treasurer's office, presenting analysis of the state finances that is both comprehensive and comprehensible.
5. Do you believe that partisan politics affect the treasurer's office?
Partisan politics seems to affect just about everything, but in the case of the State Treasurer, it really shouldn't. The Treasurer is an executive officer of the state, charged with carrying out specific functions, some constitutional and some legislated. That's why I emphasizing qualifications for office rather than party affiliation. Nevertheless, the fact that I am not a part of the status-quo two-party system has some salience. When it comes to electing a Treasurer to keep watch over the People's money, I think it just make sense to vote for a competent, well-qualified candidate from outside of the two established parties and the special interests they represent.
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John Pagan
1. Why are you running for Treasurer?
I'm running for State Treasurer in order to make higher education and job training more affordable for all Arkansans. I will vigorously promote the Treasury's Brighter Future 529 plan to help families build tax-free savings that they can use to pay for college and job skills programs. In addition, I will advocate using some of the Treasury's investment earnings to increase the size of the Academic Challenge Scholarship stipends.
2. What qualifications make you the best candidate for Treasurer?
The State Treasurer needs three principal skills: a. The ability to understand complex financial information and to make prudent decisions based on the data; b. The ability to manage the budget and personnel of an important state agency; c. The ability to navigate a complicated network of legal requirements governing the performance of his or her official duties I believe that I possess all three skills. I have first-hand experience in local and state government finance as a result of serving on the Pulaski County Quorum Court and the Revenue and Taxation Committee of the Arkansas Senate. I have extensive management experience stemming from my work in university administration as the dean of a law school. Having been an Arkansas lawyer for 45 years, I also have the legal expertise to carry out my responsibilities exactly as the law requires.
3. What do you think should be changed or revisited by the office?
In most respects, the Treasury does an excellent job for the people of Arkansas, but there's room for improvement in the area of keeping citizens fully informed. For instance, the department should post financial reports and securities inventories on its website in a more timely manner. I strongly favor complete financial transparency and total government accountability.
4. How do you plan to keep constituents informed?
Besides keeping the department's website up to date, I will strive to keep Arkansans informed by traveling around the state and speaking to civic clubs, student groups, and others who wish to know more about how the Treasury operates.
5. Do you believe that partisan politics affect the treasurer's office?
The State Treasury should operate on a non-partisan and non-ideological basis. The department should do business on business terms, focusing solely on economic factors: safety, liquidity, and return. I strongly oppose any efforts to weaponize the state's investment portfolio in order to advance a political or culture war agenda.
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John Thurston
1. Why are you running for Treasurer?
The Treasurer of the State of Arkansas is one of seven constitutional offices that serves a very important purpose as the State's banker being responsible for an investment portfolio of about $11 billion. I have greatly enjoyed the years that I have had the pleasure of serving the citizens of Arkansas and would like to bring that experience to the Treasurer's office and continue to serve.
2. What qualifications make you the best candidate for treasurer?
In addition to my degree in economics, I have almost 14 years of experience leading two different constitutional offices where I was the State Land Commissioner for two terms and currently on my second term as Secretary of State.
In my time of serving fellow Arkansans I have developed a unique understanding of the needs of our citizens and business stakeholders. I have worked with members of the state legislature, Governor, and our own U.S. House and Senate members in supporting and assisting those issues that are important to the citizens of the state.
3. What do you think should be changed or revisited by the office?
I would like to see the opportunity for greater participation with local banks and financial institutions, along with enhanced focus on current technologies. Obviously changing market conditions may require new strategies and innovative thinking in order to meet our objectives of security, liquidity and return on investment.
4. How do plan to keep constituents informed?
Former officeholders have provided useful information to the public via the website and participation in the various Board and Committee responsibilities. I plan to run this office in the same transparent manner as I have in the past.
5. Do you believe that partisan politics affect the treasurer's office?
Partisan politics has no place in the execution of duties in a Treasurer's office. The Treasurer's Office is for all of the citizens of Arkansas.