Re-elect Schmidt as treasurer

 Kelly Schmidt has done an outstanding job in her first term as state treasurer for North Dakota, and should be elected to a second. Her opponent, Democrat Mitch Vance, has hitched his campaign wagon to a less-than-honest accusation that the treasurer has been mismanaging the Veterans Postwar Trust Fund. Schmidt, who is justifiably outraged by Vance’s campaign stunt, has been a good steward of the fund.

 Schmidt‘s accomplishments are impressive. She and her staff have brought the office out of the horse-and-buggy era into the electronic age by going all-electronic with data storage and processing.

 She has rewritten the tax distribution systems (a major function of the office) so that corrections can be made and mistakes avoided. She’s worked well with the Legislature to implement transparency and control mandates. The move to modern information systems has made citizen access easier.

 She has instituted the BidND initiative, by which the office stimulates local economic development by investing state funds in local communities through a bid process.

 And she’s done it all under budget.

 Under her watch, North Dakota is one of 27 states using a bond foundation educational Web site to help consumers negotiate the complexities of financial markets. Her opponent thinks the site is a bad idea. He’s wrong.

 Regarding the veterans’ fund: Vance has charged the treasurer with withholding information and making bad investments and said the fund is headed for a bailout. None of his charges hold up to honest scrutiny.

 The fund not only is sound, but has also performed better than the overall market. It should come as no surprise the fund’s investments are down somewhat because of national economic conditions. But the fund does not face the kind of catastrophe Vance suggests. Furthermore, his calculation of “losses” counts half a million dollars in payouts to veterans, which is the fund’s primary purpose. Those aren’t “losses,” they’re benefits for veterans.

 Schmidt relies on an advisory panel of veterans and veterans advocates when investing for the trust fund. She’s a mother in a military family and understands fully the importance of the trust fund. To suggest she and her military veteran advisers have been anything but prudent with the fund is the low road at its lowest.

 The treasurer’s record of service and innovation is excellent. Her work to modernize systems has made the office more responsive and efficient. She’s earned a second term.

 (Major endorsement editorials represent the opinion of Forum Communications management and ownership)

Tags: election, endorsement, schmidt, treasurer