JFC moves to strip State Treasurer of last real function - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

JFC moves to strip State Treasurer of last real function

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MADISON (WKOW) -- State Treasurer Kurt Schuller said he was "stunned" when the Joint Finance Committee voted to essentially gut his agency Wednesday.

The JFC approved a motion to transfer the State's Unclaimed Property Program to the Department of Revenue.  That program was realistically the only remaining function of the Office of State Treasurer, which figures to lose six of its ten remaining employees if the change is approved as part of the state budget.

"I cannot hide the fact that I think this is an incredibly stupid move," said Schuller.  "Unless they were going to do what I originally asked them to do - remove the office from the Constitution.  Then it would make sense and its what I advocated for, but they chose not to do that."

Schuller won the 2010 election for State Treasurer on the campaign promise that he would abolish the office.  Schuller, who vowed not to run for re-election in 2014, says the only responsibility he has left will be as the Commissioner for the Bureau of Public Lands.  Schuller says that only requires him to attend two meetings each month.

"Its an incredibly unjustifiable move based on the fact that this Treasury, with this staff, has returned more money in less than three years than the previous Republican Treasurer returned in three terms," said Schuller.

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