Review of Delaware Cash Management Board Continues

Source: WDEL

State lawmakers are considering possible reforms for the board that oversees Delaware’s $2 billion cash portfolio.

Members of the legislature’s Joint Sunset Committee held a hearing Wednesday regarding issues surrounding the Cash Management Portfolio Board.

The nine-member board has been the subject of infighting between elected state treasurer Chip Flowers and other members appointed by the governor.

The Sunset Committee periodically reviews state agencies, commissions or boards to determine whether there is still a need for them. Among the reforms it could recommend for the cash management board are financial disclosure requirements for board members, which Flowers has called for.

Lawmakers also may look at restricting political contributions from the cash board members, but Flowers’ calls for term limits seemed to get little support among members of the legislative committee.

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