Delaware Lawmakers Target Treasurer's Authority - 47 ABC - Delmarva's Choice

Delaware Lawmakers Target Treasurer's Authority

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DOVER, Del. (AP) - Delaware's state treasurer is blasting the Markell administration over its effort to strip away any ability he might have to manage the state's $2 billion cash management portfolio.
    
Treasurer Chip Flowers spoke out Wednesday against a bill that would give the unelected Cash Management Policy Board sole authority to decide how to manage the portfolio.
    
Flowers also suggested that at least one member of the board, which includes several appointees of the governor, has financial conflicts of interest.
    
Flowers spoke just hours before a Senate committee was scheduled to take up the bill.
    
Flowers also announced that Erika Benner, who voluntarily left her post at deputy treasurer last year following her improper use of state credit cards, is no longer in a state job or receiving state pay or benefits.

 

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 This material may not be published, broadcast, rewritten or redistributed.)

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