Stenberg Announces He'll Seek Second Term as State Treasurer

By: sixonline Email
By: sixonline Email

Nebraska State Treasurer Don Stenberg said Wednesday that he will seek reelection in 2014 to a second term as State Treasurer.

“It has been an honor and a privilege to serve Nebraskans as their State Treasurer these past three years. We have accomplished a great deal and I want to expand on those accomplishments over the next four years," Stenberg said.

Here are the areas he highlighted in his announcement"

Economy and Efficiency: “I firmly believe that elected officials have a duty to operate their offices in an economical and cost effective manner. That is why over the past three years I have asked the legislature to reduce the Treasurer's office budget by a total of more than 14%. Even with that reduced budget, we were able to end the last fiscal year with unspent cash on hand of $818,372,” Stenberg said.

Transparency of State Government Spending: “The taxpayers have a right to see how their tax dollars are being spent. When I became Treasurer, our transparency website, NebraskaSpending.gov, had a D rating from US Public Interest Research Group. In less than three years we raised that rating to a B+ (10th highest in the nation) by making more financial information available online and by making that information more easily accessible," Stenberg said.

Returning Unclaimed Property: “Since taking office as State Treasurer, we have returned over $25 million to over 42,000 Nebraskans and former Nebraskans. I plan to continue to make returning unclaimed property to its rightful owners a top priority in the State Treasurer's office,” Stenberg said.

Nebraska College Savings Program: “As Trustee of the Nebraska Educational Savings Trust (NEST) I have worked hard to make Nebraskans aware of the importance of saving for higher education and the advantages of saving for college through NEST. We have had considerable success in doing so," Stenberg said. “Since taking office the total number of NEST accounts has increased by over 25,000, from 182,706 to 208,331. Assets have increased by over $819 million, from $2.395 billion to $3.214 billion. In addition, NEST has been recognized by Kiplinger's Personal Finance Magazine as the best college savings plan for fund selection. And the NEST Direct and NEST Advisor plans have been given the highest possible rating by the well-respected website, savingforcollege.com,” Stenberg said.

Financial Literacy: “Financial literacy is important to the future well-being of all Nebraska young people. In order to promote financial literacy among Nebraska high school students and promote awareness of Nebraska's college savings program at the same time, in the spring of 2013, as Trustee of NEST, I entered into an agreement with Everfi that will make an online, interactive, web-based financial literacy program available to every high school in Nebraska at no charge to the school district or the students. By mid-October of 2013, 65 high schools had received the necessary training to implement the program and many more have expressed an interest in it," Stenberg said.

Child-Support Payments : “One of the important responsibilities of the State Treasurer is to receive, process and distribute child-support payments. We understand the importance of these funds to the children of families in divorce. During my less than three years as State Treasurer, we have received and disbursed over $827 million, in child-support payments. Nearly all of these were processed and distributed to the proper recipient within 48 hours of our receipt of the funds," Stenberg said.

"While I gave some consideration to running for Governor of Nebraska, I concluded that I very much enjoy the office of State Treasurer and that we are doing important work that I would like to continue and improve upon. Finally, at least at this time, I simply do not feel any strong desire to pursue the office of Governor,” Stenberg said.

“If the people of Nebraska elect me to a second and final term as State Treasurer, I will work hard to hold the line on spending, increase financial transparency, return unclaimed property, promote college savings and financial literacy, and promptly distribute child-support payments to those who depend on them," Stenberg said.


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