When treasurer Jeb Spaulding resigned, Gov. Shumlin appointed Beth Pearce who was then the assistant treasurer. David Coates from Burlington, retired KPMG managing partners (one of the “Big Four” auditors internationally), put it this way. “When treasurer Spaulding resigned there were many vying for the appointment, including political insiders. Gov. Shumlin went for competence, and I give him high marks for that. The treasurer’s office shouldn’t be about politics, it should be about competence and she (Beth) brings an extraordinary amount of competence to that office. She’s so darn good financially and understands all of the aspects of what it takes to be treasurer.”
The role of the treasurer may not be well understood but the main functions are:
1) Invest state funds;
2) Issue bonds;
3) Manage cash balances;
4) Administer three retirement plans – state employees, teachers, and municipal employees.
Recently voters received a couple of mailings telling us to vote for Wendy Wilton for treasurer. One of these was paid for by Vermonters First, a right-wing PAC financed by one person with strong ties to Tea Party causes. Wilton claims that the $100,000-plus Vermonters First has spent promoting her shows a lot of support, but Vermonters First donations include $682,500 from one person and a total of $950 from three other people. This doesn’t seem like broad support.
Both of these mailings claim that Democrats have control of everything in Vermont. Democrats do not have a veto-proof majority in the House, but then what’s one little fib? They say it is time to “restore balance” by electing Wilton. Wilton’s ads make it clear that she thinks this is a partisan office and that the main reason she should serve is to “restore balance in Montpelier.” I served with Wilton during her single term in the Senate and she plays the partisan game more than most.
Beth Pearce is not a political/partisan being, she is just a very good treasure who is very serious about her responsibilities. I served on a retirement study committee with Beth and she shows no partisanship whatsoever.
I hope you will join me in voting for Beth Pearce for Vermont Treasurer. Don’t be fooled by misleading advertisements, get the real facts. Let’s choose competence over politics or ideology. We need a treasurer who is, as David Coates put it, “darn good financially.”
Sen. Jeanette White