Dennis Milligan was elected to the Office of Treasurer of State in 2014 and reelected in 2018. As Treasurer, he serves as the State’s banker and is responsible for an investment portfolio of approximately $4.5 billion. Milligan previously served as Saline County Circuit Clerk from 2011-2015. He is a successful small business owner who started his company, Water Treatment Services (WTS), from scratch in 1985. WTS expanded from central Arkansas to serving customers in 17 states. Milligan is also a real estate developer and home builder.
Milligan’s Innovative Spirit
Milligan has brought his innovate spirit and mindset to the State Treasurer’s office, and has not just accepted the “that’s the way we’ve always done it” mentality. In his first full fiscal year in office, he doubled the receipted earnings on the State’s investments from an average of $20 million to $48.9 million. He increased that to $57.5 million in fiscal 2017, to $77.2 million in fiscal 2018, $116.9 million in fiscal 2019 and $80.7 million in fiscal 2020. Since taking office, Milligan has returned more than $408 million back to the State of Arkansas in investment receipts, making good on his pledge to make Arkansans’ tax dollars work harder for them.
529 Education Savings Plan
Treasurer Milligan also oversees the Arkansas 529 Education Savings Plan, a college-savings program that offers taxpayers up to $10,000 in tax deductions for their contributions to their children’s 529 account. The Arkansas 529 program has seen more than $500 million in total asset growth – double the amount it was when Milligan took office in 2015.