Delaware Lawmakers Eye Cash Management Authority - 47 ABC - Delmarva's Choice

Delaware Lawmakers Eye Cash Management Authority

Posted: Updated:

DOVER, Del. (AP) - State lawmakers are resurrecting a bill stating that Delaware's treasurer has no direct control over the state's $2 billion cash management portfolio.
    
The bill, which was quickly tabled after being introduced last year, is scheduled for a Senate committee hearing next week.
    
Consideration of the legislation comes after the attorney general's office ruled in November that the Cash Management Policy Board has sole legal authority to make investment decisions regarding the portfolio, and that the treasurer is subject to its directives.
    
The board asked for the attorney general's opinion after repeated clashes with Treasurer Chip Flowers over management of the portfolio.
    
Flowers has long argued that the board, which includes several appointees of the governor, should not have a unilateral say on investment decisions.


(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • ContestsMore>>

  • Teacher Who Makes A Difference

    Teacher Who Makes A Difference

    The WMDT 47 Teachers Who Make a Difference Contest is Sponsored by Accurate Optical: "Encouraging children of all ages to come in for an annual eye exam to help them see better in school." Each month weMore >>
    The WMDT 47 "Teachers Who Make a Difference" Sponsored by Accurate Optical Encouraging children of all ages to come in for an annual eye exam to help them see better in school.More >>
  • Free Tuition Contest

    Free Tuition Contest

  • Local NewsDelmarva HeadlinesMore>>

  • Salisbury Bingo Supports ALS Foundation

    Salisbury Bingo Supports ALS Foundation

    Thursday, August 21 2014 11:40 PM EDT2014-08-22 03:40:24 GMT
    SALISBURY, Md. - The "ALS Ice Bucket Challenge" has taken social media by a storm. An event hosted by the DC/MD/VA chapter of ALS gained funds and awareness without the use of ice cold buckets.More >>
    SALISBURY, Md. - The "ALS Ice Bucket Challenge" has taken social media by a storm. An event hosted by the DC/MD/VA chapter of ALS gained funds and awareness without the use of ice cold buckets.More >>
  • New App Offers Anonymous Peer Counseling

    New App Offers Anonymous Peer Counseling

    Thursday, August 21 2014 11:18 PM EDT2014-08-22 03:18:52 GMT
    47 ABC - We've heard the quote "Be kind. For everyone you meet is fighting a hard battle." A new smartphone is proving just that, offering strangers the chance to lend an ear to one another when times are tough.More >>
    47 ABC - We've heard the quote "Be kind. For everyone you meet is fighting a hard battle." A new smart-phone is proving just that, offering strangers the chance to lend an ear to one another when times are tough.More >>
  • 2nd Duck Derby Benefits National Foundation

    2nd Duck Derby Benefits National Foundation

    Thursday, August 21 2014 11:18 PM EDT2014-08-22 03:18:21 GMT
    OCEAN CITY, Md. - And they're off! Three thousand rubber ducks swam to the finish line in support of a great cause.More >>
    OCEAN CITY, Md. - And they're off! Three thousand rubber ducks swam to the finish line in support of a great cause.More >>
Powered by WorldNow
Powered by WorldNow All content © Copyright 2000 - 2014 WorldNow and WMDT. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.