In 1784, the North Carolina General Assembly brought the treasurers under one single office, appointed jointly by both houses of the legislature.

The Fundamental Constitutions of Carolina, adopted in 1669, provided for a treasurer to handle "all matters that concern the public revenue and treasury" with the assistance of 6 undertreasurers and 12 auditors.

[1] Despite this, early colonial governors of the Province of Carolina acted as their own treasurers due to minimal revenue.

The split system continued with different officeholders until 1776, when the North Carolina General Assembly required all treasurers to be appointed by themselves and barred them from holding other public offices.

In 1868 North Carolina ratified a new constitution which stipulated that the office be filled by a popularly elected candidate with four-year terms.

[8] Article III, Section 7, of the Constitution of North Carolina stipulates the popular election of the treasurer every four years.

[13] The Local Government Commission is a subagency of the department[14][15] and the treasurer serves ex officio as chairman of the body.

[16] The treasurer is the sole fiduciary of the governmental employee pension fund and manages the State Health Plan.