Gov. Mike Beebe last week appointed former legislative auditor Charles Robinson to serve as state treasurer through the 15 months remaining in the term of former Treasurer Martha Shoffner.
“He has no experience in the treasurer’s office but he knows that there is a great staff over there that does have experience,” Beebe said. “He knows how to lead people and he knows how to listen to people.”
The state treasurer oversees Arkansas’s $3 billion state investment portfolio, which consists mostly of federal securities. The treasurer is also a trustee of the state public employee pension systems.
The new treasurer was serving as legislative auditor at his retirement in 2007. He worked 34 years at the Legislative Audit Division, which is currently investigating investment activities at the treasurer’s office over the past several years.
Shoffner resigned the post May 21, one day after appearing in federal court on charges she accepted $36,000 in cash bribes and almost $7,000 in questionable campaign contributions.
Robinson said he would return to the $54,305 annual salary. He currently receives almost $65,000 a year in state retirement pay and another $18,000 a year from Social Security.
State law does not allow Robinson to refuse the salary, or to run for the position in 2014.