Dan Rutherford (Republican) became State Treasurer on January 10, 2011. As a former state legislator and successful businessman in the private sector, Treasurer Rutherford understands the fiscal challenges facing Illinois. He believes the Treasurer’s Office must continuously evaluate its statutory responsibilities and monitor its programs to ensure that services provided are necessary and a responsible use of taxpayer dollars.
On his first day in office, Treasurer Rutherford immediately moved to streamline operations by announcing the closure of six satellite offices. He continued his cost-cutting efforts by slashing the use of taxpayer-funded fleet vehicles, cell phones, and landlines, in addition to reorganizing staff to eliminate and combine positions. During his time as Treasurer he has cut his office budget by 10%, bringing the office’s general revenue expenditures to their lowest level in a decade. Treasurer Rutherford also convened a volunteer committee of private-sector representatives to help him analyze programs, costs and service-delivery to improve efficiency and effectiveness.
The primary responsibility of the State Treasurer is to invest public funds for maximum return while at the same time protecting state investments from possible market fluctuations.
As the state’s banker, Treasurer Rutherford is responsible for investing more than $16 billion in taxpayer money. To that end, he has instituted a weekly office review of portfolio performance to prevent potential losses.
Programs that have seen resurgence under the Rutherford administration include Unclaimed Property (UCP) and the Bright Start and Bright Directions college-savings plans. Since taking office in 2011 the amount of unclaimed cash and other assets returned through UCP has increased 69 percent, and the number of claims paid is up 55 percent. In 2013 alone Unclaimed Property returned more than $139 million in assets and paid more than 70,000 claims.
The Bright Start and Bright Directions college savings programs have grown to almost $7 billion, with a record of more than 365,000 accounts. Assets have increased 83 percent since the end of 2010, and the number of accounts has grown 37 percent.
Prior to becoming State Treasurer, Dan Rutherford spent nearly 18 years in the General Assembly, including 10 years in the House of Representatives and 8 years in the Senate, where he was appointed Assistant Republican Leader in 2009. He was named Legislator of the Year multiple times and recognized for outstanding service by numerous economic, agricultural and conservation organizations.
On becoming State Treasurer, Rutherford closed out a 25 year private sector career as Vice President of International for the ServiceMaster Company. He helped drive the company’s global expansion of their trade names Terminix, Merry Maids and ServiceMaster.
Treasurer Dan Rutherford was born in Pontiac and earned his Bachelor of Science degree in Business Administration from Illinois State University. He has traveled to every continent on earth. He is a conservationist, using stream bank stabilization and personally establishing wildlife habitats and planting thousands of trees and shrubs at his home in rural Livingston County.