Del. Senate passes bill on treasurer's authority
By Randall Chase, Associated Press

The state Senate has unanimously approved legislation asserting that an unelected board dominated by political appointees, not Delaware's elected treasurer, has authority over the state's $2 billion cash investment portfolio.

The bill approved Thursday attempts to resolve disputes between treasurer Chip Flowers and other members of the Cash Management Policy Board.

Flowers blasted the legislation at a news conference on Wednesday, but Thursday's vote signaled a reconciliation of sorts between Flowers and Senate leaders.

After the vote, Flowers said he agreed with lawmakers that it did not strip powers away from the treasurer. He also said lawmakers agreed in return that many of the concerns he has about the board would be addressed later by a joint committee that conducts periodic efficiency review of state agencies and boards.

Copyright © Sep 17, 2014, WDEL/Delmarva Broadcasting Company. All Rights Reserved.
This material may not be published, broadcast, rewritten, or redistributed.

WDEL News Tools:
Printer friendly version
Back to homepage

 Latest News

 Follow Us

Facebook Twitter
RSS Mobile
Email Updates

Copyright © 2014, Delmarva Broadcasting Company. All Rights Reserved.   Terms of Use.
WDEL Statement of Equal Employment Opportunity and Outreach