Key Accomplishments
Dear Voters,
During my first term, I have worked hard not only to help Nevada weather the national economic downturn, but to ensure Nevada’s financial stability and move our state’s economy forward.
We’ve all worked together - my staff, legislators, other constitutional officers and engaged citizens - to implement innovative, cost-efficient and successful policies and programs.
We’ve accomplished a great deal over the past three years, but I know there is still more work to be done. I want to continue to serve as your State Treasurer.
After you review the success and accomplishments of the past three years, I hope you will make the decision to support and join my campaign to help us keep Nevada moving forward.
Sincerely,
Kate Marshall
Nevada State Treasurer
Making college more affordable for Nevada families
State Treasurer Kate Marshall knows that higher education is the foundation for a successful career and life. During her first term in office, Marshall renegotiated contracts, eliminated administrative costs and implemented new programs to help Nevada families save and pay for college.
Kate Marshall is helping Nevada families afford college.
- Renegotiated Nevada’s 529 college savings program contract with UPromise, which reduced fees and waived annual fees for Nevada residents. The renegotiated contract also included the new Silver State Matching Grant Program, which provides up to $300 a year in matching savings for Nevada families with adjusted gross incomes of $61,950 or less.
- Implemented the UGift Program, which is an opportunity for grandparents, uncles, aunts, friends and others to contribute to a child’s college savings plan.
- Added a savings calculator to the State Treasurer’s website which helps parents calculate the savings necessary to send their child or children to college.
- Initiated automatic payroll deduction, which provides state employees with an easy way to save for their children’s college education by deducting savings from their paychecks automatically. Treasurer Marshall is working to expand this program to the private sector now.
Cutting costs and saving Nevada taxpayer dollars
When the State Legislature faced the doomsday scenario of cutting vital public services and lay offs for state employees, they turned to Kate Marshall for help. Without raising taxes, Marshall and her staff were able to offset state employee layoffs, education, health and human services cuts and general state operating costs.
Kate Marshall implements cost saving policies and identifies savings and additional revenue to keep taxes low and avoid cuts and layoffs.
- Increased the reserves for Nevada’s debt service payments from 6 to 11 months, which provides greater security for Nevada and maintains the State’s credit rating.
- In 2007, Marshall proposed legislation to raise the Permanent School Fund Guarantee from $25 million to $40 million. The legislation was passed and signed in to law, saving taxpayers over $5.1 million, to date, for schools.
- Marshall’s Deputy for Investments consistently turned in better returns compared to private money managers under contract with Nevada. She ended the expensive outsourcing contract which saves over $500,000 per year.
- Marshall renegotiated a new banking contract to prohibit banks from charging the State of Nevada more than other states, saving taxpayers $1.2 million over the length of the contract.
- Marshall supported the Renewable Energy Streamline Act (RESA) and signed a contract to audit the state’s energy bills and find savings. Under the energy audit contract, services are provided at no cost to Nevadans and will save up to $1 million on the State’s utility bills.
- Kate Marshall’s leadership was put to the test during the economic downturn in 2009, when states throughout the country reported a loss for their investment portfolios. Marshall placed a hold on selling securities to avoid selling investments for pennies on the dollar. After the market stabilized Nevada’s investments under Marshall’s control posted a net profit.
Returning unclaimed property to rightful owners
Prior to Kate Marshall taking office, the State Treasurer’s office had untold amounts of money - some of it significant - that would never be found by its rightful owners.
That all changed why Kate Marshall took office as our State Treasurer. She improved the unclaimed property website, increased the efficiency of the program with electronic claims and returned more unclaimed property to its rightful owners than ever before.
Kate Marshall returns unclaimed property to Nevadans quickly and without hassle.
Restoring trust in the Nevada State Treasurer’s office
Prior to serving as State Treasurer, Kate Marshall had already achieved national security clearance and an established record of success in cracking down on financial fraud during her work for the Department of Justice and the Nevada Antitrust Division.
The 2006 State Treasurer’s race was in many ways a referendum on the previous administration and the public’s distrust of how the state’s finances were managed.
Kate Marshall pledged to restore integrity and financial prudence in the State Treasurer’s office and that’s exactly what she did.
- Marshall proposed and the Nevada State Board of Finance adopted a new policy that avoids investments in companies and organizations linked to terrorist groups and nations.
- Marshall created the BRAT Pack (Bond Rating Advisory Team) which brings together members or representatives from industries and agencies throughout Nevada to provide advice and suggestions on bond rating presentations.
- Marshall requested a bi-partisan audit of the state treasurer’s office. The audit uncovered $6.1 million in fees that had been collected and spent by the previous administration, without legislative approval.
- Marshall is currently Treasurer of the National Association of State Treasurers
