14.46
14.46
Assistant secretary of state. The secretary of state may appoint, in writing, an assistant secretary of state who may perform and execute any of the duties of the secretary of state, except as a member of the board of commissioners of public lands. The assistant secretary shall take and subscribe the oath of office prescribed by
article IV, section 28, of the constitution and shall give bond to the secretary of state in the sum and with the conditions as the secretary of state prescribes, conditioned for the faithful discharge of the duties. The oath shall be filed and preserved in the office of the governor.
14.47
14.47
Cashier in secretary of state's office bonded. The cashier and assistant cashiers in the office of the secretary of state shall give bonds to the secretary of state in such sum and with such conditions as the secretary of state may prescribe, conditioned for the faithful discharge of their duties. Said bonds shall be furnished by a surety company authorized to do business in this state and the cost thereof shall not exceed one-fourth of one per cent per year on the amount of said bond or obligation by said surety executed and shall be payable from the appropriation to the secretary of state.
14.47 History
History: 1979 c. 110 s.
60 (13);
1991 a. 316.
OFFICE OF THE STATE TREASURER
14.56
14.56
Office of state treasurer; creation. There is created an office of the state treasurer under the direction and supervision of the state treasurer.
14.57
14.57
Same; attached boards. There is created a college savings program board that is attached to the office of the state treasurer under
s. 15.03 and that consists of all of the following members:
14.57(1)
(1) The state treasurer or his or her designee.
14.57(2)
(2) The president of the board of regents of the University of Wisconsin System or his or her designee.
14.57(3)
(3) The president of the Wisconsin Association of Independent Colleges and Universities or his or her designee.
14.57(4)
(4) The chairperson of the investment board or his or her designee.
14.57(5)
(5) The president of the technical college system board or his or her designee.
14.57(6)
(6) Six other members, appointed for 4-year terms.
14.57 History
History: 1999 a. 44.
14.58
14.58
Duties of state treasurer. The state treasurer shall:
14.58(1)
(1) Have custody of moneys. Receive and have charge of all moneys paid into the treasury and any other moneys received by officers and employees of state agencies, and pay out the moneys as directed by law, except as provided in
ss. 16.52 (7),
20.907 (5) (b),
20.920 and
20.929. Checks, share drafts or other drafts on depositories in which moneys may be deposited shall be signed in one of the following methods:
14.58(1)(b)
(b) By an assistant state treasurer, appointed as provided in
s. 14.62, in the name of the state treasurer;
14.58(1)(c)
(c) In the name of the state treasurer, by any clerk in the treasurer's office designated by the treasurer; or
14.58(1)(d)
(d) By placing on a check, share draft or other draft the facsimile signature of the state treasurer adopted by him or her as a facsimile signature. Any depository shall be fully warranted and protected in making payment on any check, share draft or other draft bearing such facsimile notwithstanding that the facsimile may have been placed on the check, share draft or other draft without the state treasurer's authority.
14.58(2)
(2) Issue receipts. Issue receipts for all money paid to the treasurer.
14.58(3)
(3) Pay claims as presented. Pay all claims authorized to be paid out of the treasury in the order in which they are presented, giving a preference to no one.
14.58(4)
(4) Pay on warrants sums authorized by law. 14.58(4)(a)(a) Pay out of the treasury, on demand, upon the warrants of the department of administration, except as provided in
s. 20.929, such sums only as are authorized by law to be so paid, if there are appropriate funds therein to pay the same, and, when any sum is required to be paid out of a particular fund, pay it out of such fund only; and upon each such warrant, when payment is made in currency, take the receipt indorsed on or annexed thereto, of the payee therein named or an authorized agent or assignee. The state treasurer shall accept telephone advice believed by the treasurer to be genuine from any public depository, as defined in
s. 34.01 (5), stating that a specified amount of money has been deposited with such public depository for the credit of the state treasurer, and shall act upon such telephone advice as though it had been in writing.
14.58(4)(b)
(b) When in the judgment of the state treasurer balances in state public depository accounts are temporarily in excess of that required under
par. (a), the treasurer, with the concurrence of the secretary of administration, may authorize the preparation of a warrant in excess of the funds contained in the investment fund for the purpose of investment only. The earnings attributable to the investment of temporary excess balances shall be distributed as provided in
sub. (19).
14.58(5)
(5) Account for interest. Pay into the treasury and account for all sums directly or indirectly received by the treasurer by virtue of the treasurer's office, or as interest or compensation for the use, deposit or forbearance of any state moneys in the treasurer's hands or under the treasurer's control.
14.58(6)
(6) Keep cash and fund accounts. Keep records showing the number, date and amount of each cash receipt issued by the treasurer's office and classify said receipts by state funds; submit a summary statement of collections by fund together with a copy of each remittance advice in support thereof; keep also records showing the check, share draft or other draft number, date, payee and amount of each cash disbursement and classify said disbursements by state funds; keep a record of the date, payee and amount of each disbursement made by a money transfer technique other than a check or draft and classify the disbursement by state fund; and verify at the end of each week the amounts shown by the treasurer's records to represent total cash balance and cash balances of individual state funds by comparing said amounts with corresponding balances appearing on records maintained by the department of administration.
14.58(7)
(7) Permit examination of books. Permit at all times inspection and examination of the books, papers and transactions of the treasurer's office by the governor, secretary of state, attorney general, department of administration or state auditor, or by the legislature, any committee thereof or either house thereof.
14.58(8)
(8) Report to governor monthly. Report to the governor monthly, or oftener if the governor so requires, on:
14.58(8)(a)
(a) The total amount of funds in the treasury, specifying in what kind of currency they consist, the amount of each kind, and the amount belonging to each separate fund.
14.58(8)(b)
(b) The amounts in each of the state depositories, together with the interest earned thereon.
14.58(8)(c)
(c) Any defalcation or neglect of duty of any disbursing or collecting officer or agent of the state.
14.58(8)(d)
(d) Any other information pertaining to the duties of the state treasurer, as determined by the state treasurer or required by the governor.
14.58(9)
(9) Biennial report. On or before October 15 of each odd-numbered year, submit to the governor and the chief clerk of each house of the legislature, for distribution to the legislature under
s. 13.172 (2), a report containing the same information required of departments and independent agencies under
s. 15.04 (1) (d). The report shall also include a statement showing for each of the 2 preceding fiscal years the cash balance in each state fund at the beginning of the fiscal year, the aggregate amount of receipts credited and the aggregate amount of disbursements charged to each said fund during the fiscal year and the resultant cash balance in each state fund at the end of the fiscal year. This statement shall further show as of the end of each said 2 fiscal years, at par, the aggregate value of securities held for each state fund and the aggregate value of securities held in trust or deposited for safekeeping, and shall show the manner in which the total cash balance was accounted for by listing the balances on deposit in each state account in a public depository, deducting from the total of such balances the aggregate amount of checks, share drafts or other drafts outstanding and adding thereto the aggregate amount of cash and cash items in office.
14.58(10)
(10) Report certain payments. Whenever the state treasurer or any state department shall remit to any county, city, town or village any sum in payment of a state aid or other item, the remitter shall transmit a statement of the amount and purpose thereof to the clerk of such municipality. After the receipt thereof, the clerk of such municipality shall present such statement at the next regular meeting of the governing body and shall thereafter file and keep such statement for 6 years.
14.58(11)
(11) Make certified copies. Make a certified copy of any deed, bond, document or paper filed in the treasurer's office, and transcripts from the books and records kept therein, when required by any person so to do; and collect therefor 25 cents per folio, and $1 for such certificate.
14.58(12)
(12) Stamp checks and drafts. Cause to be plainly printed or stamped upon each check, share draft and other draft issued by the state treasurer the period of time, as determined by the state treasurer but not to exceed one year, during which the check or other draft may be presented for payment. The state treasurer shall cancel on his or her records any check or other draft that is not presented for payment within the prescribed time period and shall credit the amount thereof to the fund upon which it is drawn. Notice of such cancellation and credit shall be immediately submitted by the state treasurer to the department of administration.
14.58(13)
(13) Services in connection with securities held in trust. Upon request therefor from any company, corporation, society, order or association which has securities on deposit with the treasurer, in trust, mail to its address not to exceed 60 days before the same become due, any or all interest coupons; return to it any or all bonds, notes or other deposits as they become due and are replaced by other securities; cut all interest coupons, make any indorsement of interest or otherwise on any such securities; and collect therefor from the company, corporation, society, order or association making the request, a 25-cent fee for a single coupon cut, or for each entry of interest indorsed on a note or return of a bond, note or other security, and a 10-cent fee for each additional coupon cut, or entry of interest indorsed on a note, bond or other security, and may withhold any and all coupons cut or refuse indorsement of interest on securities until such fee is paid. Such fees shall be paid into the state treasury as a part of the general fund, and an extra charge may be required for postage or registered mail.
14.58(14)
(14) Other duties. Perform all other duties imposed upon the state treasurer by law.
14.58(17)
(17) Safekeeping receipts for federal securities. Whenever any federal securities are purchased under authority of any law and the state treasurer is custodian thereof the treasurer may accept and hold safekeeping receipts of a federal reserve bank for such securities. Each such receipt shall be identified on its face with the name of the fund to which the securities described in the receipt belong.
14.58(18)
(18) Sale of investments. Whenever the department of administration draws a check, share draft or other draft dated the next following business day upon a fund whose investment and collection is under the exclusive control of the investment board pursuant to
s. 25.17 (1), and the receipts of the state treasurer are insufficient to permit a disbursement from said fund in the amount of such check, share draft or other draft, the investment board shall sell investments owned by such fund for delivery in time to provide sufficient money to cover such check, share draft or other draft on the date which it bears.
14.58(19)
(19) Apportion interest. Apportion at least quarterly the interest earned on state moneys in all depositories among the several funds as provided in
s. 25.14 (3), except that earnings attributable to the investment of temporary excess balances under
sub. (4) (b) shall be distributed according to a formula prescribed by the depository selection board. To the maximum extent deemed administratively feasible by the depository selection board, the formula shall approximate the distribution of earnings among funds which would occur if earnings were allocated in proportion to each fund's actual contribution to the earnings. Interest so apportioned shall be added to and become a part of such funds.
14.58(20)
(20) Election campaign fund. Make disbursements to each candidate certified under
s. 7.08 (2) (c) or
(cm) by the elections board as eligible to receive moneys from the Wisconsin election campaign fund.
14.58 History
History: 1971 c. 164 s.
90;
1973 c. 333;
1975 c. 180,
189,
198,
421;
1977 c. 107;
1977 c. 196 s.
131;
1979 c. 34,
221;
1981 c. 20;
1983 a. 27;
1983 a. 36 s.
96 (2);
1983 a. 51;
1983 a. 189 s.
329 (21);
1983 a. 368,
408,
524,
538;
1985 a. 29;
1989 a. 31;
1991 a. 39,
189,
299,
316;
1995 a. 201.
14.59
14.59
Training conferences. The state treasurer may conduct conferences for the purpose of training county and municipal clerks and treasurers, and employees of their offices, in their official responsibilities. The treasurer may charge participants in any conference a fee for participation which shall not exceed the proportionate cost of conducting the conference. The treasurer shall credit all revenues from fees assessed under this section to the appropriation account under
s. 20.585 (1) (h).
14.59 History
History: 1995 a. 27.
14.60
14.60
State treasurer's bond. The bond of the state treasurer shall extend to the faithful execution of the duties of the office of state treasurer until a successor is elected and fully qualified. If the treasurer elects to give bond guaranteed by a surety company, the cost thereof and of any additional bond required of and furnished by the treasurer and so guaranteed shall be borne by the state and shall be paid out of the appropriation to the office of the state treasurer; if the annual cost thereof does not exceed 0.25% of the amount of said bond.
14.60 History
History: 1991 a. 316.
14.62
14.62
Assistant state treasurer; oath; bond; powers. The state treasurer may appoint, in writing, an assistant state treasurer to perform any of the duties of the state treasurer, except to serve as a member of the board of commissioners of public lands. The assistant state treasurer shall take and subscribe the oath of office prescribed by
article IV, section 28, of the constitution and shall give bond to the state treasurer in the sum and with the conditions the state treasurer prescribes, conditioned for the faithful discharge of the duties. The oath of the assistant state treasurer and the certificate of appointment shall be filed and preserved in the office of the secretary of state. The state treasurer may require any employee to give bond to the state in the amount and with the conditions the state treasurer prescribes, conditioned for the faithful discharge of their duties. The cost of the bonds shall be charged to the appropriations under
s. 20.585.
14.62 History
History: 1983 a. 192,
538.
14.63
14.63
College tuition and expenses program. 14.63(1)
(1)
Definitions. In this section:
14.63(1)(a)
(a) "Board" means the board of regents of the University of Wisconsin System.
14.63(1)(b)
(b) "Institution of higher education" means an eligible educational institution, as defined under
26 USC 529.
Effective date note
NOTE: Par. (b) is shown as amended eff. 2-1-01 by
1999 Wis. Act 44. Prior to 2-1-01 it reads:
Effective date text
(b) "Institution of higher education" means a public or private institution of higher education that is accredited by an accrediting association recognized by the state treasurer, and a proprietary school approved by the educational approval board under s. 45.54.
14.63(2)
(2) Weighted average tuition; tuition unit cost. Annually, the state treasurer and the board jointly shall determine all of the following:
14.63(2)(a)
(a) The weighted average tuition of bachelor's degree-granting institutions within the University of Wisconsin System for the academic year that begins on or after the first day of August of the current year. The amount shall be calculated as follows:
14.63(2)(a)1.
1. For each such institution, multiply the tuition charged a full-time undergraduate who is a resident of this state by the number of full-time equivalent resident undergraduates attending the institution.
14.63(2)(a)3.
3. Divide the sum under
subd. 2. by the total number of full-time equivalent resident undergraduates attending such institutions.
14.63(2)(b)
(b) The price of a tuition unit, which shall be valid for a period determined jointly by the state treasurer and the board. The price shall be sufficient to ensure the ability of the state treasurer to meet his or her obligations under this section. To the extent possible, the price shall be set so that the value of the tuition unit in the anticipated academic year of its use will be equal to 1% of the weighted average tuition for that academic year plus the costs of administering the program under this section attributable to the unit.
14.63(3)
(3) College tuition and expenses contracts. 14.63(3)(a)(a) The state treasurer shall contract with an individual, a trust or a legal guardian for the sale of tuition units to that individual, trust or legal guardian if all of the following apply:
14.63(3)(a)2.
2. The purchaser is purchasing the tuition units on behalf of a beneficiary named in the contract.
14.63(3)(a)4.b.
b. If the purchaser is an individual, the beneficiary is the child, grandchild, nephew or niece of the individual or is a child who is under the legal guardianship of the individual.
14.63(3)(a)4.c.
c. If the purchaser is a legal guardian that is not an individual, the beneficiary is a child who is under the legal guardianship of the legal guardian.
14.63(3)(a)4.d.
d. If the purchaser is a trust, the beneficiary is the beneficiary of the trust.
14.63(3)(b)
(b) The contract shall specify the anticipated academic year of the beneficiary's initial enrollment in an institution of higher education.
14.63(3)(c)
(c) The state treasurer may charge a purchaser an enrollment fee.
14.63(3)(d)
(d) The state treasurer shall promulgate rules authorizing a person who has entered into a contract under this subsection to change the beneficiary named in the contract.
14.63(4)
(4) Number of tuition units purchased. A person who enters into a contract under
sub. (3) may purchase tuition units at any time and in any number, except that the total number of tuition units purchased on behalf of a single beneficiary may not exceed the number necessary to cover tuition, fees and the costs of room and board, books, supplies and equipment required for enrollment or attendance of the beneficiary at an institution of higher education.
14.63(5)(a)(a) Except as provided in
sub. (7m), if an individual named as beneficiary in a contract under
sub. (3) attends an institution of higher education in the United States, each tuition unit purchased on his or her behalf entitles that beneficiary to apply toward the payment of tuition, fees and the costs of room and board, books, supplies and equipment required for enrollment or attendance at the institution an amount equal to 1% of the anticipated weighted average tuition of bachelor's degree-granting institutions within the University of Wisconsin System for the year of attendance, as estimated under
sub. (2) in the year in which the tuition unit was purchased.
14.63(5)(b)
(b) Upon request by the beneficiary, the state treasurer shall pay to the institution or beneficiary, whichever is appropriate, in each semester of attendance the lesser of the following:
14.63(5)(b)1.
1. An amount equal to the value of each tuition unit, as determined under
par. (a), multiplied by the number of tuition units purchased on behalf of the beneficiary and not used.
14.63(5)(b)2.
2. An amount equal to the sum of the institution's tuition, fees and the costs described in
par. (a) for that semester.
14.63(6)(a)(a) A contract under
sub. (3) may be terminated by the person entering into the contract if any of the following occurs:
14.63(6)(a)1.
1. The beneficiary dies or is permanently disabled.
14.63(6)(a)2.
2. The beneficiary graduates from high school but is unable to gain admission to an institution of higher education after a good faith effort.
14.63(6)(a)3.
3. The beneficiary attended an institution of higher education but involuntarily failed to complete the program in which he or she was enrolled.
14.63(6)(a)4.
4. The beneficiary is at least 18 years old and one of the following applies:
14.63(6)(a)4.b.
b. The beneficiary has decided not to attend an institution of higher education.
