Milligan to run for state treasurer

Former state Republican Party Chairman Dennis Milligan of Benton announced Wednesday that he will run for state treasurer.

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Milligan, 55, who currently serves as Saline County Circuit Clerk, said that he became interested in the position last fall when he saw signs the office was not being properly managed.

On May 21, Martha Shoffner resigned as state treasurer after being arrested and accused by the FBI of extortion. For months her office had faced questions about why some bonds were sold prematurely and why nearly a third of state bonds were with a single company.

“I am not being opportunistic because of recent events,” Milligan is quoted as saying in a news release.

He is the first person to announce he intends to seek the office. Milligan said by phone that his experience running businesses prepared him to be treasurer.

“After all, a business is considered successful when it’s paying its bills, employing people,” Milligan said.

Milligan operates Water Treatment Services Inc. in Alexander. He is also involved with commercial and private development as well as breeding and racing thoroughbreds.

Republican Rep. Duncan Baird of Lowell also has said he is considering running, but does not know when he will announce his decision. Baird served as House budget chairman in 2013.

Democratic Party spokesman Candace Martin said the party is speaking with potential candidates and expects an announcement by late summer.

The state treasurer is paid $54,304.80 a year. The treasurer is the state’s banker, handles more than 400 accounts for about 200 state agencies and serves on the boards that manage investment of state retirement funds for public employees and schoolteachers.

Milligan said he hopes to put details of the state’s investments online for the public to view, such as which firms receive investments and how much they hold.

“There was nothing being done in that office that was innovative,” Milligan said. “That technology is readily available. We don’t take ‘that’s the way we’ve always done it’ as an answer.”

Milligan also said he wants to identify ways to make the office more efficient.

“If I can earn a dollar more in interest, then that is a dollar less that the taxpayers have to come up with,” he said.

Milligan defeated incumbent Doug Kidd with 52.5 percent of the vote to become Saline County circuit clerk in 2010. He had no opponent in 2012.

Milligan narrowly lost bids for a state House seat in 2002 and 2004. He served as chairman of the state party from May 2007 until December 2008.