The office is authorized by Article V, Part Third of the Maine Constitution.
Responsibilities of the Treasurer's Office include providing financial services for all state agencies, issuing bonds and managing the State's debt, as well as holding unclaimed property and working to return it to its rightful owners.
The Treasurer is also an ex officio member of several state boards and agencies.
Governor Paul LePage proposed in 2015 to change the selection process to a gubernatorial appointment that would be confirmed by the Legislature.
[2] Neither change passed and the State Treasurer continues to be selected by the Legislature.