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LWV League of Women Voters of Ohio Education Fund

Smart Voter
Ohio State Government May 2, 2006 Election
Candidates Answer Questions on the Issues
Treasurer of State; State of Ohio; Democratic Party

The questions were prepared by the League of Women Voters of Ohio and asked of all candidates for this office.     See below for questions on

Click on a name for candidate information.   See also more information about this contest.

1. What additional safeguards will you put in place to protect public investments? What are your investment strategies that would safely maximize the rate of return? (150 word limit)

Answer from Hugh Quill:

As a way to enhance safeguards designed to protect Ohio's investments, I would advocate for stricter investment standards for custodial funds and Ohio's investments under active management by the State Treasurer. Additionally, it is essential the treasurer appoint well qualified and independent representatives to oversee portfolio management of our state's five retirement trusts including PERS, STRS, SERS, OP&F, and HPRS, as well as the Bureau of Workers Compensation (BWC). With proper oversight, the public investment maxim of Safety, Liquidity and Return will not be compromised. Moreover, Ohio's banking and brokerage business should be earned by competitive pricing that will reward taxpayers with the best returns. We need to expand the universe of qualified primary dealers and brokers that will compete for Ohio's investment business based on price, and not on political contributions. As Treasurer, it is my job to insure that excessive commissions are not diminishing taxpayer returns.

Answer from Richard Cordray:

I would operate the State Treasury like the Franklin County Treasury, where we invest safely and prudently and maintain a AAA bond rating, the highest available. We instituted an investment ethics policy and strengthened internal controls, including cash handling and cash management improvements. Importantly, our investments are transparent: all information is made readily available to the public. We instituted new collateral requirements, obtaining specific collateral to protect our investments rather than less secure "pooled" collateral. And we have improved methods of electronic payment, making our processing more efficient and accurate. The same kinds of upgrades would benefit the State Treasury.

Responses to questions asked of each candidate are reproduced as submitted to the League.  Candidates' statements are presented as submitted. 150 Word limits apply for each question. Direct references to opponents are not permitted.

The order of the candidates is random and changes daily. Candidates who did not respond are not listed on this page.

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Created: June 7, 2006 11:53 PDT
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