The treasurer serves as the state's chief financial officer and is charged with prudent management of state money.
Primary responsibilities of the office include the receipt, safekeeping, investment, and disbursement of monies belonging to the state, as well as the safekeeping of investment securities and performance bonds held in trust on behalf of state entities.
The treasurer is elected to serve a four-year term and is third in line of succession to the governor.
The treasurer serves as the chairman of the State Board of Investment, as the state surveyor general and on the state Land Selection Board. The Board has the authority to approve state Land Department recommendations on transactions involving state-trust lands (A.R.S. § 37-202).
According to the Arizona Constitution, Article V, Section 10, the state treasurer cannot serve more than two consecutive elected terms.
At the request of the Legislature, the treasurer gives a written report on the condition of the state treasury and on other subjects relating to office duties.