Public Trust

His Plan

Richard Cordray recognizes that the purpose of Ohio's government is all about the
hopes and dreams, joys and cares of eleven-and-a-half million people. In 2006,
Cordray ran for state office promising to do everything he could to make a nickel
or save a nickel for taxpayers, and he has delivered on that promise.

In the Attorney General's office, Cordray will bring a renewed commitment to
integrity by insisting upon conscientious respect for employees, clients, and the
general public, regardless of how the parties may be situated in any legal dispute.
He also has pledged to bring greater transparency to the state contracting process.
Finally, he will tolerate nothing less than the highest level of competence, quality,
professionalism, and dedication to do what is right for the people of Ohio from all
those who have the honor of serving in and with the Attorney General's office.

His Record

In 2007, the Treasurer's office saved over $1.2 million terminating unnecessary and costly contracts and bringing some work in-house to modernize the information technology infrastructure. He also completed one of the largest bond sales ever, for Ohio's share of the tobacco securitization funds, at the lowest cost of issuance ever attained for a "jumbo" bond issuance.

Cordray also made money for the state, tracking down about $194,000 owed to the Treasury in unclaimed funds. Through careful review, he also identified and collected nearly $900,000 in earnings credits that had not been applied to the State of Ohio's banking fees over a period of six years. Additionally, the office set an all-time record in investment income this fiscal year.

Not content just to reduce costs or find money, Cordray helped to secure the state's financial integrity by building mechanisms to avoid costly mistakes down the road. Cordray beefed up the internal auditing function in the Treasurer's office and increased the security of sensitive data in online networks. He required reviews of all existing contracts to ensure the state's financial house was in order. Cordray implemented the first Treasury ethics policy to avoid abuses that had occurred in the past. He also created a cash-handling policy for cashiers, which is universal in the private sector but was not in the Treasury's security procedures.