Cutline: Oklahoma State Treasurer Randy McDaniel attended the Nov. 21 Tonkawa Lions Club meeting at the Glass Room inside the Memorial Student Union. McDaniel spoke on the duties of the treasurer’s office and answered questions from club members. Pictured (L-R): NOC President Dr. Cheryl Evans and Randy McDaniel. (photo by John Pickard/Northern Oklahoma College)
Oklahoma State Treasurer Randy McDaniel spoke at the Tonkawa Lions Club Thursday in the Glass Room of the Memorial Student Union on the Northern Oklahoma College campus.
“There are a lot of great things going on in Oklahoma,” McDaniel offered. “There is optimism out there. It’s a great time to be an Oklahoman.”
McDaniel explained that his office is to safeguard and effectively manage taxpayer dollars.
He also said the treasurer’s office is responsible for assisting taxpayers in claiming unclaimed property. McDaniel said his office assisted taxpayers in claiming over $52 million in unclaimed property.
McDaniel added that his office safeguards the state pension funds. He added that over the past nine years, the state has gone to one of the most underfunded plans (56 percent) to over 80 percent funded in 2019.
Future plans include financial literacy to reduce student and credit card debt.
The treasurer was joined Deputy Treasurer for Communications and Program Administration Tim Allen, an NOC graduate.
McDaniel took questions from club members after his presentation.
McDaniel is the 19th State Treasurer of Oklahoma. He was elected to a four-year term in 2018, receiving 72 percent of the vote and carrying all 77 counties.
As the state's top elected financial officer, McDaniel protects and manages the billions of taxpayer dollars deposited each year, safeguards the financial health of the state, promotes responsible fiscal policy, and operates the state's unclaimed property program.
McDaniel chairs the Oklahoma College Savings Plan Board of Trustees and the Board of Investors for the Tobacco Settlement Endowment Trust. He is a member of the State Board of Equalization, which certifies funds available for the state budget, and the State Pension Commission.
After earning a bachelor's degree with honors in economics from the University of Oklahoma, McDaniel earned a master's degree from Cambridge University before starting his career in banking. He was a successful financial advisor for more than 20 years working with individual and institutional investors. He holds a Certificate in Public Treasury Management from the National Institute of Public Finance.
McDaniel was a Distinguished Military Graduate and served for 11 years in the Oklahoma Army National Guard, where he rose to the rank of Captain.
McDaniel was elected to six terms in the Oklahoma House of Representatives. He served as chair of the House Banking, Financial Services and Pensions Committee, where he spearheaded the passage of legislation that helped strengthen the state's retirement systems, ensuring the retirement security of teachers, public safety personnel and public employees.