About Us < Arkansas Treasurer of State

Treasurer Larry W. Walther

Larry Walther began his career as an Engineer at SBC Communications, rising to the role of Vice President of Corporate Services and also serving as Chairman of SBC’s Foundation.

Following his extensive career with SBC, now AT&T, Walther has received appointments to serve in the administrations of three Arkansas Governors along with appointments from two U.S. Presidents, including leading a federal agency.

Walther’s public service career was initiated in 2003 when Arkansas Governor Mike Huckabee appointed him to lead the Arkansas Economic Development Commission (AEDC) as Director.

He moved from a position in state government leadership to a federal leadership position in 2008 when President George W. Bush nominated him to serve as Director of the U.S. Trade and Development Agency (USTDA), a nomination confirmed by the U.S. Senate. In 2011, Walther received a second presidential nomination when President Obama nominated him to serve on the Board of Directors for the Export-Import Bank of the United States, again receiving U.S. Senate confirmation.

In January 2015, Arkansas Governor Asa Hutchinson announced the appointment of Mr. Walther as Chief Fiscal Officer for the State of Arkansas and Director of the Department of Finance and Administration (DFA).

Under his leadership, DFA has transformed the ways in which services are provided to Arkansans. When he joined DFA, one Revenue Office-related service was available online (renewal of car tags). He led an effort to move as many of these services online as possible, understanding the time and effort this would save citizens. As a result, the majority of Revenue Office-related services may now be completed on DFA websites, from ordering a duplicate driver’s license to transferring vehicle ownership.

Arkansas Governor Sarah Huckabee Sanders reappointed Walther Chief Fiscal Officer and Secretary of the Department of Finance and Administration in January 2023. In August 2023, Governor Sanders appointed Mr. Walther Treasurer of the State of Arkansas.

Mr. Walther serves on the Board of Trustees of the College of the Ozarks in Point Lookout, Missouri, since 1992, serving as Chairman of the Board from 2001 to 2007. In December 2010, he was elected Treasurer of the Republican Party of Arkansas. Mr. Walther has also been a member of the Executive Board for Quapaw Area Boy Scouts, Downtown Little Rock Rotary, the University of Arkansas for Medical Sciences’ BioVentures Advisory Board and Easter Seals Arkansas’ Board. He currently serves as a member of the University of Arkansas Walton School of Business Dean’s Executive Advisory Board.He is actively involved at Immanuel Baptist Church in Little Rock. He has two children, Bill and Mandy, and seven grandchildren. He is a graduate of the University of Arkansas at Monticello.

The Treasurer’s Office

The Office of Treasurer of State of Arkansas was established by the Constitution of 1836 with the Treasurer being selected by a joint vote of both houses of the General Assembly. Each Constitution since that time has provided for a Treasurer of State.

The first person selected Treasurer of State was better known for having established the first newspaper in Arkansas. William E. Woodruff, the founder of the Arkansas Gazette, served as Treasurer of State from 1836 through 1838.

The Treasurer of State serves as the State’s banker and is responsible for an investment portfolio of approximately $9 billion. Every day, our staff accepts deposits, reconciles accounts, prepares statements and answers customers’ questions. As the bank for the State, the office provides many of the same services as private banks.

On average, the office accepts more than $70 million daily in deposits from various local, state and federal sources, and credits them to the proper accounts. These deposits are made up of electronic funds transfers, checks and cash. We process between 2,000 to 3,000 checks and reconcile over 3,000 accounts daily, representing the funds of nearly 200 state agencies, boards and commissions.

One of the most toured places in the office is the vault. The vault weighs 22,000 pounds — or the weight of two full-grown elephants — and was built between 1910 and 1912. Thousands of visitors each year, from every state and many foreign countries, visit the vault. School groups from around the state regularly visit the Capitol and come to the vault to take a picture holding anywhere from $100,000 to half-a-million dollars.

The door and the vault itself are two of the most interesting features for all visitors who come for a tour. The vault was shipped by train to Little Rock from the Mosler Safe Company in Hamilton, Ohio. Transporting the vault door from the train station to its current location in the Capitol proved to be a challenging task. A separate rail spur line had to be built to connect the train station to a second story window in the Capitol building in order to get the door in its rightful place inside the Treasurer’s Office suite.

The vault lock also tells a story of its own. It is controlled by a timing mechanism built by a Swiss clock maker. This is an entirely mechanical device and cannot be hacked. Each day, our tellers close the vault and set its timer, which controls when the vault can be reopened. The vault lock is not controlled by, or connected to, any Internet-controlled device.

Individuals and small groups are welcome anytime between 8 a.m. until 4:15 p.m., Monday through Friday. For large groups, it may save you some time to schedule your visit so as to avoid waiting for other visitors to finish their tour. Please use the contact form to schedule your visit.