All three candidates for the position of state treasurer have made a major issue of the Common School Fund, which distributes money to local school districts, and Oregonians will have the opportunity to decide if a politician or an accountant will manage it.
Jon Kvistad will run unopposed in the Republican primary, but Gary Bruebaker, deputy state treasurer, and Rep. Randall Edwards, D-Portland, will run against each other to face Kvistad in November.
The Oregon treasurer heads the state’s treasury, which serves as the central bank for state funds, issues all state debt and manages the state’s pension fund. The treasurer also serves on the State Lands Board with the governor and secretary of state to manage the Common School Fund.
Kvistad, a Portland Metro Councilor and president of AKA Political Services who is running unopposed in the Republican primary, said that he would manage the fund prudently, helping it grow without taking too much out of its capital to give to schools.

“I am a big supporter of schools, but I don’t wear that on my sleeve,” he said. “A better way to help schools would be to hire more debt managers.”
Kvistad said debt managers would help schools with the “mountains” of paperwork and “take the burden off of school districts, keeping costs down and making the bond process more effective.”
Currently, school districts receive 5 percent of the Common School Fund’s total value, and Kvistad said there was no reason to increase that percentage.
Giving schools the maximum flexibility to direct and utilize their funds would be a top priority, he said.
Kvistad said that the treasurer’s job is a technical one, but not solely that of a money manager.
“We are not hiring money managers, we are hiring someone to manage the money managers,” he said.
Edwards, a small business owner and state representative, said that as chief state financial officer, the treasurer has a responsibility to ensure prudent financial management.
“I have the background to make sure that the Common School Fund is managed properly, while establishing long-term relationships between school districts and treasurer’s office to help find ways to use bond measures effectively,” he said.
If elected, Edwards said that he would implement a plan to match the funds generated by local school bond measures with funds from the state. Rural districts, with their lower tax revenues, would receive more money than larger districts.
Edwards said that “the technicians are already in place. What we need is someone who can provide leadership and work with the government and school districts.”
“I have all the qualifications, and [Bruebaker] doesn’t. This is not a CPA job,” he said.
Bruebaker, the deputy state treasurer, said that because he has been involved with every major policy decision the treasury has made in the past seven years, he is well qualified to keep the office running on an even keel.
“The office has been running the best it ever has under [Oregon Treasurer] Jim Hill, and I intend to continue the great job,” he said.

He said that while he is not a politician, he has 22 years of financial management experience and has plans for helping schools find more money.
“I’m committed to working with the governor and superintendent of public instruction to find a solution to school funding,” he said.
Bruebaker also said that he would help state agencies review cash flows and make their accounts more efficient.
Partnerships with state and local agencies, he said, would help him find ways to improve management of pension funds.
“I want to look for a lot of creative ways to use partnerships to save the taxpayers money,” he said.