Duane Davidson

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Duane Davidson
DuaneDavidson-300x300-1.jpg
23rd Treasurer of Washington
Assumed office
January 10, 2017
GovernorJay Inslee
Preceded byJim McIntire
Personal details
Born (1959-06-06) June 6, 1959 (age 60)
Carnation, Washington, U.S.
Political partyRepublican
Children3
EducationBellevue College
Central Washington University
(BS)
WebsiteOfficial website

Duane A. Davidson (born June 6, 1959) is the Washington State Treasurer, and was elected in November 2016, and took office in January 2017.

Early life[edit]

Davidson was born and raised in the Snoqualmie Valley near the town of Carnation, WA into a family involved in dairy farming, logging and other small businesses. He graduated from Tolt High School, in Carnation. He started his undergraduate education at Bellevue Community College and transferred to Central Washington University in Ellensburg where he earned a Bachelor of Science in Accounting.

Career[edit]

Davidson is an actively licensed certified public accountant (CPA). Before winning the statewide post, he was elected to four terms as Treasurer of Benton County, Washington. He took that office following his initial election in 2003.[1]

Immediately prior to being elected as Benton County Treasurer, Duane was the Chief Financial Accountant for the county. Earlier in his career, as auditor for the Washington State Auditor’s Office, he served as the Assistant Audit Manager in the Tri-Cities in charge of the Walla Walla regional offices.

Election to State Office[edit]

In the 2016 elections, three Democrats ran in the state's blanket primary, splitting the Democratic vote across three candidates, thus allowing the two Republican candidates to advance to the general election. Davidson was elected state treasurer by winning 58% of the statewide vote against another Republican.[2]

Responsibilities of Washington State Treasurer[edit]

Core duties of the Washington State Treasurer's Office include cash management, investments, and debt management.[3] Under state law, the Treasurer also chairs the State Finance Committee, which reviews and authorizes debt issuances approved by lawmakers, and the Public Deposit Protection Commission. Additionally, the Treasurer serves on five other state boards or committees. These bodies have assigned duties relating to aspects of the economy, the state budget process, college savings plans, housing affordability, and investments made on behalf of public sector employees.[4]

Financial Education[edit]

Davidson has said his agenda as State Treasurer includes emphasizing financial education for consumers, and particularly students. In a May, 2017 visit to the Yakima, Wash. area, he visited a Junior Achievement program focusing on financial education and emphasized the utility of successful learning models already in use, rather than the development of new curricula by state agencies.[5]

State Debt Concerns[edit]

Davidson has raised concerns about Washington state's total outstanding debt, and annual debt service costs.[6] Currently state debt is almost $20 billion, and annual state debt service costs are about $2 billion.[7] He has said he intends to issue the annual report from the Treasurer's Office on the state's debt position earlier in the year than the historical release date in December - one month prior to the start of the annual legislative session - and have the copies sent directly to the homes of lawmakers, so that they will pay more attention to the findings.[8]

During Davidson's tenure as Benton County Treasurer, available public documents show that total outstanding year-end debt dropped from $24.4 million as of December 31, 2012 [9] to $12.6 million as of December 31, 2016.[10]

Family, and Professional and Community Service[edit]

He and his wife Kathy (deceased 2016), raised three children together – daughters Bailey (Young) and Kinzey, and son Luke – in the Tri-Cities. While a county treasurer, Davidson served three terms as President of the Washington State Association of County Treasurers (WSACT) and earlier served as the organization’s treasurer. Davidson is a long-time Kiwanian. He is the past-president for two separate Kiwanis Clubs in the Tri-Cities and served as treasurer for the Kiwanis Club of Tri-Cities Industry Foundation.[11]

Electoral History[edit]

Washington State Treasurer Duane A. Davidson is sworn in before a joint session of the State House and State Senate, in January, 2017.
Washington State Treasurer, 2016 Election[12]
Party Candidate Votes %
Republican Duane A. Davidson 1,576,580 58.15
Republican Michael Waite 1,134,843 41.85
Washington State Treasurer, 2016 Primary Election[13]
Party Candidate Votes %
Republican Duane A. Davidson 322,374 25.09
Republican Michael Waite 299,766 23.33
Democratic Marko Liias 261,633 20.36
Democratic John Paul Comerford 230,904 17.97
Democratic Alec Fisken 170,117 13.24
Benton County Treasurer, 2014 Election[14]
Party Candidate Votes %
Republican Duane A. Davidson 38,215 100
Benton County Treasurer, 2010 Election[15]
Party Candidate Votes %
Republican Duane A. Davidson 46,829 100

References[edit]

  1. ^ "Benton County Treasurer sets sights on the state job". Tri-City Herald. Retrieved November 9, 2016.
  2. ^ "Duane Davidson wins over Michael Waite in state treasurer race". The Seattle Times. November 8, 2016. Retrieved November 9, 2016.
  3. ^ "Core Functions page". Treasurer's Office website. June 28, 2017. Retrieved August 9, 2017.
  4. ^ "Boards and Committees". Treasurer's Office website. June 28, 2017. Retrieved August 9, 2017.
  5. ^ "Best lesson on financial literacy found here in Yakima". Yakima Herald Republic. May 24, 2017. Retrieved August 9, 2017.
  6. ^ "Raise your drink to state's financial state, but watch out for the hangover". Tacoma News Tribune. July 8, 2017. Retrieved August 10, 2017.
  7. ^ "Debt Affordability Study" (PDF). Office of the State Treasurer (see "Debt Portfolio Overview, p. 1). December 10, 2016. Retrieved August 10, 2017.
  8. ^ "Davidson: Washington state should tame debt appetite". Treasurer's Office website. May 31, 2017. Retrieved August 10, 2017.
  9. ^ "Comprehensive Annual Financial Report For Year Ending December 31, 2012 (p. 5)" (PDF). Benton County Auditor. June 27, 2013. Retrieved August 10, 2017.
  10. ^ "Comprehensive Annual Financial Report For Year Ending December 31, 2016 (p. 4)" (PDF). Benton County Auditor. June 28, 2017. Retrieved August 10, 2017.
  11. ^ "Treasurer's Biography". Treasurer's Office website. June 28, 2017. Retrieved August 10, 2017.
  12. ^ "November 8, 2016 General Election Results - State Treasurer". results.vote.wa.gov. Retrieved November 7, 2017.
  13. ^ "August 2, 2016 Primary Results - State Treasurer". results.vote.wa.gov. Retrieved November 7, 2017.
  14. ^ "Benton County November 4, 2014 General Election". results.vote.wa.gov. Retrieved November 7, 2017.
  15. ^ "Benton County November 02, 2010 General Election". results.vote.wa.gov. Retrieved November 7, 2017.

External links[edit]

Political offices
Preceded by
Jim McIntire
Treasurer of Washington
2017–present
Incumbent