The Arizona Chamber of Commerce & Industry welcomed special guest and featured speaker Treasurer Doug Ducey on December 8th at the Eggs & Issues Breakfast at the downtown Phoenix Sheraton Hotel. Nearly 100 individuals attended the breakfast sponsored by Alliance Bank to hear from Arizona’s Treasurer who was elected to his first term on November 2, 2010.
The former CEO and President of Cold Stone Creamery brings a new energy and a results-driven approach to the office and the state government. Treasurer Ducey is integrating real world financial practices into the state’s Treasury operations and in less than a year, yielding significant positive results. Under Treasurer Ducey’s fiscal leadership, Arizona ended November 2011 with a positive cash balance at an average of $857 million – up 51% from the same time last year. Despite this encouraging positive trend line, the Treasurer emphasized that Arizona is not experiencing a budget surplus and it will not until its debt is under control and a savings account is built.
Treasurer Ducey also discussed his goals to bring more collaboration between state agencies and departments and to emulate Arizona after other states that have balanced budgets and created savings accounts in equally challenging financial environments. The Treasurer is prepared to tighten Arizona’s budget further, reminding those in attendance that a state’s inability to print dollars compels it to control spending and make better, more sound financial decisions.
Read more about the state of the Treasury in the Treasury’s Quarterly Update newsletter, Inside the Vault here.