Our Money: West Virginia treasurer is just doing his job
West Virginia state Treasurer John Perdue certainly deserves credit for prudent management of our money.
It is OUR money, of course, because we all pay taxes in the Mountain State.
But last week, Perdue was praised by Gov. Jim Justice for agreeing to transfer $20 million out of the treasurer’s office and into the state general revenue fund. It will help keep the budget balanced, the governor noted.
Perdue said the $20 million results from good investments and the state unclaimed property program.
Well, good — but Perdue is just doing his job. No state agency should spend more than necessary.
“I’m proud that we’ve never lost a penny in the State Treasurer’s Office — your bank, the people’s bank — since I became your state treasurer,” Perdue said. “We also have been able to get good interest rates off of our investments … that has brought about some of this money that’s going to be able to be returned, and the legal settlements that we’ve been able to accomplish in unclaimed property.”
It is not a stretch to suggest Perdue might have been reading very closely from his job description, in making such a boast. Surely he and Justice both understand that.
Any unused cash belongs back in the general revenue fund. The $20 million never was the treasurer’s office’s money.
It was always our money.