My vision is to build nonpartisan buy-in with financial stakeholders in all Departments of government to create a cohesive and collaborative management technique that works for all Delawareans. Operational efficiency with State Government Departments in managing cash and processing is essential to deliver as promised funds to vendors, contractors, employees and citizens (via tax refunds). My vast and diversified business experience will drive the Treasurer’s office day in and day out with operational excellence.
Delaware's Biggest Fiscal Challenge
Delaware's long-term strategy and triple bond rating show that we are fiscally healthy in the long-term. However, if we look at the individual, the family, and the retiree, we are still feeling the effects of the banking industry's impact from the 2007-2008 financial crisis. We saw a 2% increase in households falling below the poverty line here in Delaware over the last year despite the economic growth and decline in unemployment at the national level. Short term cash management is not hard. Somehow, it has become more complicated over the last four years.
Currently, our short-term financial wellbeing is ranked 37th in the nation by US News and World Reports. However, due to our Governor’s fiscal responsibility, our long-term financial wellbeing is ranked 4th. We have a triple bond rating, which makes Delaware a solid investment from the perspective of the banking industry. We should allow local and smaller banks to bid for the opportunity to have our banking business. The greatest challenge will be to keep the “special interests” agenda out of the Treasurer's office.
Maintaining a balanced budget is very standard for the Treasurer's office. The current Treasurer has made it an overly complex process. I will ensure that the budget process is understandable and transparent.
Over the past four years, Delaware has fallen behind on payments local businesses for their services. Not all small businesses have the financial capital to sustain late payments from the government. If we continue on this irresponsible path, Delaware will have to outsource these services to large out-of-state corporations. To avoid that, and help grow small businesses in Delaware, I will implement responsible policies and pay our debts on time.
Teaching Financial Literacy
Financial Literacy is a critical skill for any individual. I will revitalize the Jack Markell Financial Literacy programs that have dwindled over the past four years.
Building an economy that works for all Delawareans
We cannot continue to place the desires of the few over the needs of the many. We must look for opportunities to maximize on or grow entrepreneurial development attracting and helping small businesses grow. Training and retooling skilled workers will keep our economy productive and innovative.
I set high standards of excellence I am highly organized and manage others to achieve the greatest return through hard work and determination. I will encourage my team to think outside the box for innovation that will drive costs down, and productivity up.
As a healthcare consultant, I was required to enter unfamiliar environments and collaborate with new clients and health care systems every day. Upon taking office, I would start by assessing the staff to gauge their strengths and measure potential areas of improvement. Then, I would ensure that existing relationships with other state and partner organizations are amplified.
The Office of Treasurer requires the management of nearly 10 Billion Dollars*. This requires constant oversight of critical contractors, vendors, and financial consultants. I will implement and follow Best Financial Practices to the letter of the law.
Mis-management of cash is the fastest route to financial instability within the Bond Market, and I guarantee every citizen of Delaware that I will account for each and every penny.