Cash Management Policy Board

Local News
11:36 am
Wed February 19, 2014

Delaware Treasurer Gets Election Challenge

Sean Barney
Credit official photo

Delaware State Treasurer Chip Flowers is expected to get a challenge from Governor Jack Markell’s policy director.

Sean Barney officially jumped into the race against the embattle official who saw the governor sign into law last week a measure that gives power over the state’s $2 billion cash portfolio to an appointed board instead of Flowers.

Barney told WDEL that he wants to restore integrity to the office.

And Markell issued a statement calling Barney a valuable member and respects his decision to run but added he will not endorse anyone in the primary.

Read more
Local News
8:25 am
Fri January 31, 2014

Board To Get Total Control of Delaware Cash Management

Credit Don Rush

DOVER, Del. (AP) - The state House has given final approval to legislation asserting that an unelected board dominated by political appointees, not Delaware's elected treasurer, has authority over the state's $2 billion cash investment portfolio.

The House voted unanimously for the bill Thursday, two weeks after its unanimous approval by the Senate. The legislation now goes to Democratic Gov. Jack Markell, whose administration pushed for the legislation.

Read more
Local News
9:08 am
Thu January 30, 2014

Delaware Lawmakers Blast Treasurer Chip Flowers

Delaware Treasurer Chip Flowers
Credit official photo

Delaware State Treasurer Chip Flowers was sharply criticized yesterday afternoon by House leadership for his troubled relationship with Delaware’s Cash Management Policy Board.  

The criticism came before a committee cleared a bill that limits his ability to manage a $2 billion taxpayer portfolio.

Flowers has been in conflict with the board management of the state’s cash portfolio.

And board members appointed by Governor Jack Markell asked that the General Assembly settle the dispute.

Read more
Local News
11:23 am
Fri January 17, 2014

Delaware Senate Votes Sole Cash Management Authority to Board

Delaware Treasurer Chip Flowers
Credit official photo

DOVER, Del. (AP) - The state Senate has unanimously approved legislation asserting that an unelected board dominated by political appointees, not Delaware's elected treasurer, has authority over the state's $2 billion cash investment portfolio.

The bill approved Thursday attempts to resolve disputes between treasurer Chip Flowers and other members of the Cash Management Policy Board.

Flowers blasted the legislation at a news conference on Wednesday, but Thursday's vote signaled a reconciliation of sorts between Flowers and Senate leaders.

Read more
Local News
8:29 am
Wed January 15, 2014

Control of Cash Management Policy Considered in Delaware

Delaware Treasurer Chip Flowers
Credit official photo

DOVER, Del. (AP) - State lawmakers are poised to discuss 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, was scheduled for a Senate committee hearing on Wednesday.

State treasurer Chip Flowers, who has repeatedly clashed with Delaware's Cash Management Policy Board over who controls the portfolio, planned a news conference Wednesday in advance of the committee hearing to speak against the legislation.

Read more
Local News
10:43 am
Fri January 10, 2014

Bill Barring Treasurer Control Over Cash Portfolio in Delaware

Delaware Treasure Chip Flowers
Credit offcial photo

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.

Read more
Local News
9:04 am
Wed November 27, 2013

Delaware State Treasurer Suffers Setback Over Cash Portfolio

Credit Don Rush

WILMINGTON, Del. (AP) - Delaware's state treasurer has suffered a setback in his battle with a state panel over who controls Delaware's $2 billion cash management portfolio.

The attorney general's office ruled Tuesday 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.

Read more