Who gets hurt from Kate Marshall’s Wall Street gamble?

Based on the most recently available public documents released from Nevada’s treasurer’s office, dozens of Nevada programs and accounts are preparing for monetary losses of at least $40 million of taxpayer money to cover Kate Marshall’s reckless record as state treasurer.

“Marshall is spreading the loss of income to several dozen different agencies and programs over 4.5 years. She said the plan, which was reviewed by the Board of Finance in July 2009 – before Martin was appointed – was approved both by state Budget Director Andrew Clinger and the Legislature.” (Sean Whaley, “State Treasurer, GOP Challenger Argue Over Facts and Figures,” Nevada News Bureau, 9/24/2010)

Below is a list of some of the allocated losses to Nevada programs and here is the link to the most up to date allocation of losses report from the treasurer’s office.

• The School Remediation Trust Fund – $1.5 million loss
• The Veterans Custodial account – $16,000 loss
• The Highway Fund – $6 million loss
• Low Income Housing Trust Fund – $410,037.84 loss
• The Millennium Scholarship fund – $493,216.19 loss
• Healthy Nevada which function is to “administer grants for tobacco control, children’s health, and disability services” – $662,491.27 loss

•  The Public Health Trust Fund, which function is the “Promotion of public health and programs for disease or illness prevention, Research on issues related to public health, and Provisions of direct heath care services to children and senior citizens” – $637,635.20 loss

Note: The Public Health Trust Fund has no more money available according to their website http://health.nv.gov/TF_PH.htm

• Radioactive Waste Disposal – $153,426.45 loss
• Hazardous Waste Management – $255,961.02 loss
• Protect Lake Tahoe – $277,008.57 loss

NRCC Comment

“Kate Marshall’s handling of Nevada taxpayer money has been disgraceful. There have been severe consequences for Nevada’s struggling families because of Kate Marshall’s reckless record as the state’s top financial officer.” – Tyler Q. Houlton, NRCC Spokesman