>> Coming up next on Arizona horizon, it's a debate between the republican candidates for state treasurer and an hour-long clean election's debate and it's next here on Arizona horizon Good evening and welcome to this special election 2022 edition of Arizona horizon.

I'm Ted Simons and tonight a debate by clean elections wash source for non-partisan election information and features the republican candidate for state treasurer and this is not a formal debate.

An open exchange for give and take for candidate for one of the state's most important offices.

As such, interinjectionsinterjections are allowed and there will be statements and later, closing statements and joining us now for tonight's debate, Bob Lateri, state representative Jeff Wentlinger and Kim Kimberly yi.

Let's start with bob.

>> I was recruited.

Campus deloit and I received an NBA for state finance.

I will bring greater state transparency and I have been CEO of three companies and raised over $300 million and responsible for investing, secure capital retention, liquidity and safety and I'm going to do the same thing for the citizens of Arizona.

>> Thank you, sir.

And now we turn to Jeff Wenniger.

>> I'm running to be your state treasurer.

My wife, Janet and I, have been blessblessed with three incredible children.

I moved they're 29 years ago to open up restaurants.

That lead me to go to service and I served the chandler population on the chandler city council as mayor and councilman for eight years and significance ofsix,chairman of the commerce and banking, insurance and business and regulatory of the state.

That has lead itself to be involved in big issues including historic tax reform and regulatory reform.

My hard work and work ethic is why people like Congressman Andy Biggs and governor Jan Brewer will enforce me and I want to be your state treasurer.

>> And finally Kimberly Yi.

>> It has been an honor to serve as your state treasurer in Arizona.

I am born and raised in Arizona and I'm a mom, the daughter of the United States Army veteran with a long line of small business owners with my grandparents who had a little grocery store on seventh avenue and buckeye road which operated over 60 years.

When I came in as state treasurer, with had 15.$4 billion in state management and today at 29.$9 billion.

And that is a 94% increase.

Under Biden's failed economy, we have individuals in Arizona and across the country who have determined whether they should fill up their gas tanks or pay their bills.

I'm running to serve the taxpayers of Arizona.

>> Bob, what do you see as the duties of this office?

>> The duties of the office is to invest money and let me explain how money comes into the treasury.

I'll give you a simple example.

Let's say, Ted, you have an account with an investment bank of over a million dollars.

You sell a property for five million dollars.

You inherited five million dollars and now there's $11 million in your account and what if your investment banker to get business told people that he raised the assets in your account by ten million dollars?

Would that be an ethical statement?

I doubt it.

So, basically, the way money comes into the treasury is through taxes.

The legislature is responsible for taxes.

Sales tax, individual income tax and business tax.

Taxes on insurance premiums, the sale of state land, all of that is outside of the purview of the treasurer and that money comes into the treasury for her to invest or the treasury to invest.

That is the job of the treasurer.

>> OK. >> To bring you the highest rate of return.

>> OK, the duties, primary responsibility of the treasury department and state treasurer.

>> To safeguard the people's money, money from the budget and different things and going to the historic money we're doing on border security this year and to safeguard that and make sure it's guarded.

If you get a return, that's great.

The treasurer is also, you know, the bank of the state.

Everyone from the budget, the land trust and to safeguard your money.

I know where bob was going with that.

It's a talking point of the current treasurer, that it's increased that much, but that's just because there's more tax money coming in and not, like, you doubled the amount of money through investments, which is the way it's projected.

>> I would ask you what you think the primary responsibilities are, but I think you're aware of that and why don't you respond.

>> Well, as the state treasurer, I am the chief banking and investment officer of the state of Arizona and bringing into the settlementsinvestments.

The more we give back, the less taxation they have in the local areas and is that is were why I visited all 15 counties to meet with local council people to invest their local government dollars in their pools to increase the local government fund.

We do that voluntarily and they have gimp us given us a vote of confidence to put in assets under management because of those relationships statewide.

>> Bob, that doesn't sound like the same thing you were talking about.

What's going on here?

>> What's goingWhat's going within, it has increased from 20 to 46 billion and hasn't increased by the treasurer.

It's the sale of state land that comes into the treasury and it's taxes on insurance premiums and nothing to do with the treasurer raising money and brought in by the legislature.

>> This goes as a small business owner, you know this.

Minimum wage goes up and there's inflation and gas goes up and then, restaurants and businesses have to raise prices which means local governmentings governments are collecting more.

And it goes up and again and so, we have problems cupping coming with inflation and more money to invest.

And it's spun that through investment and the actual tools that that money grew.

>> Sounds like they're saying it's a spin.

>> It's not, because if you look at the dollars and you look at our website, you can see that this money has increased, nearly doubled in the time I have served as state treasurer and it is by our investment team.

We have had much of that brought in by our local governments, cities and towns.

That is voluntarily.

Evacuee increased.We've increased assets by 62%.

We've outpurchased our pension systems for the last 20 areas.

20 years.

Take a look at the comparative views.

>> But, again, is it the result what you're investing and how you're investing or more money coming in thiscoming in?

>> We invest in safety before liquidity and that's a safe fiscal philosophy and that creating a safe city to have more liquidity and then we have able to invest in various pool for local governments.

>> Sounds like strategy, bob, not more money coming in.

>> Let me explain the strategy, anyone can do what I've done.

I've gun to the treasurer's website and taken a look at the amannual report.

If you scroll down to page 8 and start with an external pool of investments and on page 10, 5.

5.$1 billion returned 8.$8 million to the taxpayers of Arizona and that's 17 basis points.

FoundThe portfolio reserves 17 basis points and when you factor in inflation, you lost money for the citizens of Arizona.

>> You lost money for the citizens of Arizona?

>> We're going down a hole here.

I really think that the fact is more cities that put more money in.

I'm in the saying there's not any return on it.

I'm not saying it's not true to saying you haven't doubled it.

They have a good staff at the treasurer's office, but my problem is, that the staff is without a leader a lot of times.

And we did a record's request because everybody told me the current treasurer is not at the office and we did a record's request and she was there six times in six months, between November and April -- November of last year and April of this year, she badged in six times in six months and that's just not a appropriate.

This is an executive level position and handling all of our taxpayer money.

>> I need a response to that.

>> First of all, let me start with this.

It's a sad day when you have someone stoop to lies and misrepresentation and this is a severe misrepresentation at how our office works and how someone gets access into the office and that shows, you know, the lack of understanding of this position.

You can go into the state capital building in the executive tower and my office by going through security and not having to swipe a badge.

That's one.

You can have a staff member swipe their badge and walk in behind them and push a code before you get into a door.

This shawl small picture that showed a small picture of how one person gets into the building is flawed.

And beyond that in the records from a department that's not our office, from the department of administration, not the treasurer's office, that just a swipe of a badge can get a person in, which is not the case at all.

I want to share that the state treasurer's office is a hybrid remote office and always has been and I worked in the state treasurer's office 15 years ago under Dean Martin and it was a remote office.

Our traders work on east coast time.

So they have to start trading at 3:00 a.m.

So we have always been a remote workplace like the 65% of all state employees today in the state of Arizona.

>> Are you buying that?

>> You have to give me a minute here.

One, she's had other record's requests they're not fulfilling and anyone who works in the world knows you have to have a badge to get in and badging into the legislature and I've missed three days in eight years of the legislature, badging in there, security needs to know we're add and people need to know and if you need to get out, you can't have somebody who is walking around, badging you in.

We had people trying to break into the capitol and our security did an amazing job.

But you have to not put them in that position.

And to the remote working and this is something I brought up because I was denied a tour of the place for months.

When I got into the race, she wasn't in the race and I got in the race back in August and I was told all the way through November, I couldn't have a tour because only a third of the staff was working out of the office and still working at home because of Covid.

I bring this up and the spin where it says, well, our traders have worked from home.

O, that'sWon'tThere's 30 to 33 people at the office and what about everybody else?

Are they working?

If they are working from home, are the networks secure on their home Wi-Fi?

>> Are these concerns of yours, working remotely?

>> Most of my career, we've been in the office and I've always found that it's so productive.

When you said achievement of objectives to approve shareholder value, you want to know how you're doing didn't and you on target and it takes that face-to-face, being together in the office to bring the best out of the people.

They are getting paid and there has to be paid work product and evidence of them doing things.

>> First of all, this shows that there is a lack of understanding of the office by one of my opponents here.

First of all, it's not like running a restaurant or a deli where your employees check in and out.

It's a financial institution for the state of Arizona and we have individuals -- for myself, I'm working in all 15 county for we the people and I am there in and out of various counties I don't sit in a desk with four walls, sitting on my hands to say that I'm at the state capitol.

I'm working for the people and that's why you've seen increases in partnerships.

The other thing is that this gentleman who was in the legislature voted so that we have an exstemmion exemption outside of DDODOA's asset.

I swale because of some of the false allegations, we have had to turn over this as a violation to our department of homeland security and because of the things released to the public regarding our interchange.

>> Is there a security risk?

>> We're safe and secure because we work remotely.

It's not like we decided this one year and we work in state government who work with IT to make sure our systems were not like any state agency.

We are unlike any of them and so our systems are different.

You have to almost have two to three people logging in with biometrics to ensure that is the person logging in every moment.

>> How do you respond to that?

>> It always goes to the traders and there's this pivot and I understand maybe a few of the traders work from home and not the entire staff and we never get to that and we always get into this, there's someone there taking money and our traders work from home and what about everybody?

>> If the entire staff is at the fair eating corndogs and it helps the state finances and pry prudent, what does does it make?

>> If you go to casa grande, you don't get back later in the day and the treasurer needs to be walking into the legislature.

I won't be walking over and talking to my friends, 25 of which have endorsed my campaign on food legislation and economic development.

>> Ted, I have a question for you.

>> Yes.

>> You implied that the returns on the investment are good and apartmently,Ididn't make my point with 5.$1 billion that you could vet with 17 basis points you factor in inflation, that means it lost money.

>> Has the state lost money?

>> No, we've earned money and that's clear if you look at AZtreasury.gov.

It's transparent.

>> How do you respond?

>> It's not transparent.

The only thing transparent is the external pool.

It's not like gap reporting that you get when you're an investor in a public company.

The reporting is anything but transparent and I stand on what I'm saying, go to the treasurer's report, look at the extern equal pool ofal pool of investments and it returned 17 bases points.

>> Please.

>> Let me give you an example because we do investments on various things.

Whenever the state land department sells that, we return it and those proceeds are invested and we have seen a growth of just the Pledus alone and many, many we do.

To give you an example, we have seen -- I think fiscal year '23, $402 million that will go to K through 12 and in other areas and an example, when we look at what we have invested in, evacueeevacueewe'vetaken a careful look and scrubbed those companies like Ben and Jerries and that's a far left progressive company and when they boycotted Israel, we divested, the parent company, $143 million of those assets and it went down to zero.

>> This is a good time to pivot away and I have you, bob, you say we lost money and you're saying we didn't.

Is it prudent to not invest that might bring in state fund because they have done something politically opposed to what you believe in?

>> It is.

ComeKimberly was there and that bill basically said to divest.

>> You said you won't do business with banks pushing green new Dale deal banking.

>> Environmental social governance and there's a new great reset, and I liken this to the CRT of the financial world where there's never a vote in Congress and never any of these things and they sneak this in and many banks and places will not lends lend to oil and gas and lower they'rest they're ERG and the same thing with gun manufacturers.

They're not investing in gun manufacturers and squeezing them of liquidity to, basically, trample on our rights never with a vote, but with the woke corporations and funds.

>> Is it the tramping on the rights or the non-prudent investment.

>> I don't think it's prudent for the state or with gas prices with right now.

>> If it makes the money, you wouldn't do it?

>> You have to look at a bigger picture.

There are certain investments and banker of America bank of America is one of them and they're basically this checkbook and the anti-second amendment there is and basically said if you discriminate against gun companies, then we will not do a state contract with you.

>> Does this make sense to you?

If it's something against your political ideology, we're not investing, period, over?

>> I think the Ben and Jerry, anti-Israel is interesting.

That the God of the Bible protects Israel.

I don't know that we have to do that now.

Let's talk about Weaver brothers, it's a $45 stock that pays 4.4% and use that against the 17 bases points earned by this 5.1 billion investment and I would think carefully about how I handle the taxpayer's money.

Now, to the point that Jeff is bringing out, this is what I found from research regarding certain banks.

They are developing a credit card that gives a social credit score and based upon everything that you buy and it has a carbon footfrontfootprint and when you reach a certain level of emissions, you're cut off.

They're imposing the new green deal with new legislation.

They're taking your fundamental rights away and your money away with no safeguards and no regulation.

>> Kimberly, let's talk about this and what's happening now and what should happen in the future and again.

Regardless of what companies believe in or don't believe in and pushing sews lovecally.

Do you say know?

>> I believe these woke woke corporations are going down a dangerous path.

It becomes a political rating, and that's why you see so much pushback and so many corporations are going woke and fullest.

And we have to be prudent with our money and can't dump it because with have that fiduciary responsibility.

So we scrub those companies and see what they're saying in the news and like Ben and Jerries, they boycotts Israel and we have a law in the books that required us to absolutely divest that money.

Not all state treasurers -- 20 plus state treasurers failed to do so and I was the first and only so far.

>> Again, you're talking about scrubbing and reading and looking and marching and shouting and all of that and should the treasurer be looking at that?

It represents the people of Arizona and when these corporations go down this path, they're no longer representing their consumers.

Their consumers are the people of Arizona and they have to make sure our portfolios look good and bank of America contract is up for a negotiated a negotiation again and who will be our vendors for the next phase.

It was under a former state treasurer and there is the right time for us to be able to have a financial person in this office who understands this very important issue.

>> That contract is coming up and how do you see negotiations?

What would you looking for?

>> It should have been done and she's putting this and she's blamed the former treasurer who I like and did a great job on this.

That contract was a three-year contract and says on your website, a three-year contract with two one-year renewals.

By state law, you can cancel that specific contract with 60-day notice, but I believe you would have had to resign one of those renewals.

It literally says that on your contract with two one-year renewals and both when you are there.

>> Three-year contract or five-year contract.

>> Five-year contract.

If there's a problem, numerous air errors and iterrors where you have opportunities to pull out in the middle of a pandemic and if you have situation, situation, is there a problem to uphold this in a court of law, but what is so important now is that I'm looking at that contract and making sure that we have ask screening questions for the banks out there who want to do business with Arizona's servicing banker.

bank.

We need to ask them, are you prohibiting financing for lawful finance companies with gas and fossil fuels?

Do you prohibit companies with financing who deal with firearms?

Those are screens to put out.

>> That sounds like you were talking about or what should be done?

>> These are things I've been talking about since I got in the campaign in August?

I've been hitting all of these points and she's seeing its working well because she was running for governor and she got in this race in January and these are talking points I've had and she scrubs these contracts and known for years to be anti-second amendment and lobbyist who lobbies for the gun industry and handed the money back and we don't wap your small business account because you lobby for the fire industry.

If she scrubbed the contracts, why didn't she know that know that and personally renew?

>> There's no signature on the contracts with my name.

That's my information put out by somebody who doesn't tell the truth.

>> How does that happen?

>> It says -- one, is, because there's no transparency.

You can't get it to the office and you can't see a lot.

But it says on their website, this is three years with two one-year renewals and that doesn't happen magically, like a renewal.

>> Bob, get in on this, please.

>> You know, the way I see it, just like your audience is vetting us tonight, we need to vet banks and make sure they reflect conservative values, Arizona's values.

That's how I would be making any selection.

I would have any checklist, but I certainly would be after banks that reflect conservative values.

>> If you go after banking reflecting values and you don't necessarily focus on values andberry inandand you go with B over A?

>> I make the decisions, not the bank.

The banker will beI'll be the one making the investments.

They have advisers to tell me what to do, but I'll make the decisions.

>> So the answer is B?

>> B.

>> The one idea on this contract that I brought to the banker's oh and talk to banker's about and talked about before and it's a good idea is somehow, and is creating different service banks, different liquidity levels to get the local banks, some skin in the game and allow them to participate because the levels are so high.

>> Too centralized now?

>> A couple of years ago, we would open to service banks locally owned community banks and that idea has been in our office in the last several months, well before, because we were preparing for this very day when this servicing bank contract would be up and, you know, when you have a sizeable banking organization, it does limit who you can bank with.

We have to open that back up so you might have opportunities for several banks to be a part of.

>> Talking about policy and all of this, and how much of the state treasurer advocates for or against political issues.

We know what you would do with decisions, but as far as this being an advocate, this is the treasurer's office and you're supposed to be in charge of money and what difference does it make as far as political issues?

>> I think the focus has to be on the bottom line exit has and maximizing efforts and safety and liquidity and politics only gets in the way of your decision makes and takes your eye off your focus.

>> Politics just got in the way because it talks about a bank if it was against second amendment rights.

>> It's against the constitution to take away people's freedom and take away their bank account.

>> It does matter to a certain degree?

>> Yes.

Another part of, to protect your rights and liberties and I would say if you're doing business with the bank, whether you signed it or you just let it go into effect with a renewal, you're giving them money and profit to take away our rights and that's not what the Arizona constitution does.

>> Can I just interject?

The banks that have this social credit score with a carbon footprint, there's no action and I'm calling for legislators to protect us.

>> Going to the legislature, regarding financial fiduciary, that makes sense to you is.

>> Absolutely.

We have to follow the law.

Going back to fighting for the issues, the Biden Administration and John John Kerry, his climate Czar working with banking issues to tell them to stop financing our oil, gas didn't fossil and fossil fuels and we learned -- I independently wrote a letter to the Biden Administration saying we will no longer do business with you if you pick winners or losers in the fee enterprise system.

That's wrong.

We have put them on notice and will continue to do so.

>> Jeff, with his idea, talking to law makers not involving the treasure's' office.

Is that a wise use of the treasure's' time.

>> I have great partnerships, I served in the state house.

I have to do the work of the state treasurer and it's not my role to be in the chambers of the state house and senate all day long and that's not the role and we have to maintain the office because that is my constitutional oath that I took.

>> It's your responsibility as a treasurer, X, Y, and.

>> You can be over there talking about it.

>> To me, they should be weighing in one way or another and saying this is how can make it better and this didn't happen.

The only thing I saw them say about though boards was in a board of investment meeting where they said, it was not normal they didn't talk about it but never registered an opinion that I saw on the RTF system.

>> Talking about the frank Carol bill, pro second amendment and the die Divestment, labors, we don't have the time toman tor to monitor.

The open bills we oppose are the ones we have personally put out into the legislative process and bills to be sponsored and in this case on the second amendment, issue have a strong, you know, rating from the NRA, an A rating when I served and I've been endorsed by the Arizona defense league, former president and current president in perm personal capacities.

The bill did not move forward, but we knew it was happening in the process because of our friends.

>> They talked about the bills and closely watching them, but they just refused to weigh in on this, whether it was four or against and ghosted the process.

>> We're talking about bills, legislation, issues that deal in some way, shape or form with the treasurer's office.

Not things that deal with all other matter of societal issues, correct.

>> Mainly, I think there is a Nexus to weigh in on economic calalissues.

There's been TFMC coming here and a lot of the bills were the forefront of bringing that in and I think I can still have that expertise.

>> I want to go back to something Jeff mentioned, regarding you running for governor and deciding you will run for reelection for the treasury.

>> There's more work to be done in the state treasurer's office and running the state treasury and this is the time and place and I like to say that we have to have an experience proving conservative at the wheel.

And this is the time where our families are struggling economically and I have had a long-standing platform for financial education.

Not only for students and senior accidentscitizens and this is the time to help them save and talk about smart money management.

That work still needs to be done, including ensuring this Biden Administration and their failed economic policies do not creep into Arizona.

>> Bob, why are you running to replace an incumbent republican?

>> Simply put, is 17 bases points an adequate return on $5.1 billion.

I can do a better job for the citizens of Arizona.

I have financial expertise from the educational point and from being a CFO, investing $100 million in private companies, never lost any money, won the confidence of the investors.

In fact, my confidence level with investors is so high, they're asking me if they can invest in my new company.

>> Again, the 17 bases points rears its head again and respond and we'll put a lid on it.

>> It's clear that some of my opponents on the stage stage do not understand the role.

I hire to be in the investment team and I have managed the office of 30 people from banking services to the investment team to the investment account wantsants to the cashiers and that is the role of the state treasurer, not somebody taking every ledger in the accounting system and managing it all day.

>> Should you know about that?

>> Absolutely.

But she, he's see, he's taking one piece on this website -- >> 5.1 billion isn't small.

It's versus a total of 26.

How is that small?

I would like bob to apply in the investment room if she has such interest in the accounting of this.

>> That's my entire career in number crunching.

>> I love he's honed in.

Going back to the point, it's important you're the manager of a state agency and that has been my educational background.

I graduated from pepperdine and a master degrees from public management and ma is what you do in aus auspice in state management.

>> Why should they say an incumbent needs to go?

>> Umbraged with the way you're phrasing that.

>> I got in the race in August because there was no conservative in the race and I wanted to face back and I think I could do a good job.

>> David livingtop livingston was in the race.

>> I think I'm more conservative.

>> But he's not a conservative.

>> Go ahead, please.

>> So I got in the race and I don't think it's fair to say we're trying to run against the incumbent and got into the race in January.

We already had all of our signatures and petitions and we were down the road and I think I can do a better job and this is talking about managing the people.

I have a lot of experience managing the people and being at job.

I've missed three days in eight years at the legislature.

If you're going to manage people, you have to thanks.

be this.

>> On one committee.

Jeff serves on one committee with no leadership.

I was the senate majority with four committees.

Most legislators have three or four committees unless they have a problem with coming to work.

I don't think there's anyone else in the house or senate with one single committee.

>> Yes, please.

>> There were numerous years I had multiple committees and there was a situation this last time where I was on another committee and at the last minute I was asked to give it to someone else, and I did that.

You can check my records and I'll make them open to everybody.

I missed three days in eight years.

I work 80 hours a week right now and I worked 80 hours a week for many years.

So this is getting amusing.

>> Bob, did I see something in relationship with national bank of Arizona?

What was that all about?

Were you sued by the national bank of Arizona?

>> No, not that I'm aware of.

>> I must have gotten that information wrong, then, huh?

Did I get that information wrong?

Anyone hear about that?

>> Unless there another bob.

>> I apologize for bringing that up and if you're not aware of that, that's not true.

I'll stick with with you.

In terms of investment strategy, cautious aggressive, how should be the treasurer move forward?

>> Well, right now because of the inflation, I am taking a very densive position in short-term fixed interest and paying 1.37 and I would stay with that and interest lates will be moving up and I'll sell out of them after three months and buy in at a higher rate and take a very defensive position and look at equities and equities that would pay a dividend and long-standing history of of dividends and two of the large markets have lost 20% of their value.

I think we may be headed for reservesrecession and take a defensive posture.

>> What would be your style in office?

>> We always need to be cautious in defensive posture.

There's times toAgain, this is the people's money, money from education to all of the other gate things great things we just did.

Over a billion dollars for water infrastructure and we have to protect money just like it's our own.

>> Safety first.

Safe before liquidity before yield.

>> Prop 23 and we haven't talked about that in awhile, but there was quite the discussion at the time of taking that land trust money and using it for education over the course of -- cut eight billion dollars over 40 years against the idea and said this wasn't a wise idea to be using that, pulling that money out and we'll start with you.

I think the last time we had a debate, you were expressing caution.

>> ItI was part of the legislature moving that to the people of Arizona.

I really had caution about this, because you didn't want to break into the corpus of the lan land endowment trust fund and what's left?

And so that is where I stood then and because of the record participation, internal investors have increased in historic investment records, by the way.

That fund went to 7.99 billion last year and so, we have not broken into the corpus and we are putting in more money from K through 12 and $402 million will be going into the classrooms, outside of the appropriations because of the dollars made on investments alone.

>> But it is still wise to tap that fund for these purposes.

>> It has an expiration date and that's key.

Because at the time, they were looking at a lawsuit and trying to solve the problems and this is one solution and is the reason we put the ec expiration on that and all of this has come into play and there we need to see whether we need to renew that.

>> As opposed to interest and wise idea.

>> I supported it then and now and it has an expiration date.

The magical thing and what I saw then was that Arizona is the place to be and as some people say, everybody is voting with U-hauls and we're selling land for a lot more money which brings in more money.

>> What do you think, Bob?

>> I agree.

That's the intervening variable and this debate and the joint legislative committee said no more than 2.5% of the interest should be used.

Governor Ducey raised it to 6.7 and therefore, depleting the principle and the increasing value of land that they could rebuild the principle with and I really do think.

>> The operative word is rebuild.

It would be rebuilding at a good rate.

You still think it was a good idea?

>> Yes.

>> I stress this is an expiration date didn't we have and we have to look at the dollars going into K through 12 to see if it should be renewed.

>> How should the treasurer coordinate with the state lan state land development?

>> We speak with them and when they have these decisions, it's a part of their plan for Arizona and we sell high for the best return and we take those proceeds to invest wisely and goes back to the Arizona constitution and 93% of those dollars go to the K through 12 public education system and I'm a daughter of a public school teacher and I believe those monies are important and the $402 million that I'll be distributing to the K through 12 school system needs to be there and that's a part of the job is ensuring you have wise investments.

>> The state land development with the treasurer, should it change?

>> I think that's a food balance good balance and the governor's office has something to do and we have to be careful we're not selling that off and that's for them to decide and one thing to look at is, it took a little bit of a chance and I supported it and more money to education and we invested for money and then we're bringing these electric vehicle companies and all of these different companies, we've got a great educated workforce gone through the university system to be able to work at those great places that we're bringing in.

>> The relationship state land department, treasure treasurer's office, how close should that be?

>> Separation, but they're two different functions one manages the land, sells the land, the treasurer invests the money from those and the treasurer's function is to maximize from land sales.

>> What do you think about that?

>> It's how our current system works and working well?

>> I want to express this in a different way.

We have a treasurer and E have we have someone who's been in office did republicans voted for her once and she's running again.

Obviously ran for governor and you guys got in the race and now that she's in the race want keeps you?

>> My drive to improve performance?

>> I think the treasurer made an interesting statement that I dig into all of these ledgers and there suspect something on the income statement that I can't explain to investors and tell them why the number is the way it is and that's my background.

I'm a numberer cruncher and think I'll do better than 17 bases points on 5.1 billion.

>> What keepses in this race?

>> The fact I have a great history with the legislature and a lot of people knowing I can do this job and the fact I know my work ethic will have me showing up everyday and doing the job for the people of Arizona and they know I've gotten great things through.

>> They know you ran for governor and ran for this and why should they trust this is what you want to do?

>> They know my background and stand for integrity and people who don't represent the truth in allegations and is that the person you want handling $53 billion and the cash throw andcash flowand with leadership and proven in the last three and a half years is what the voters want, especially now in Biden's failed economy.

We will protect the taxpayers of Arizona and their money.

>> Talk about that veracity comment there.

>> To question my truthfulness.

I would ask the people at home, when go go to work, six times in six months and say if there's a three-year contract and you have control whether or not another year goes and state wasn't me, it was the person before me, does that pass the smell test and I don't think it does.

People who know me.

Ask the other legislators, people who know me, know I'm a man of integrity.

>> Bob, last word.

>> It's interesting, last word is that I don't like zoom meetings and I'll tell you why.

So we share a screen on zoom and I've gotten all of my numbers laid out, but it's difficult for me to express that to the rest of the management team without them present.

There's so much more better communication in the office.

>> We got you and all of that and I think that will wrap it up and time now for closing statements and in reverse order, we start with Kimberly.

>> Thank you, Ted.

And thank you for all of you watching tonight.

I'm the current state treasurer to serve another four years because this is the time in Biden's failed economy for a leader who has protected the taxpayers and there's more work to be done in this office.

I have added more financial literacy and smart money management, not only to students, but to our senior accidents,citizens across every corner of our state.

We took on the savings plan to save, whether it, college or workforce development and vocational education.

In 19 short months, we have increased those accounts by 1,000 and please look at my website.

Thank you.

>> Now from Jeff Wenneger.

>> Thank you for having me and thank you for watching.

I am running for state treasurer and I have been a part of big things, whether it be voting for half a billion dollars for border security or raises for DPS or correction's offices and I think we need someone in the treasurer's office who wants the job, who will show up and that's why I've been endorsed by Congressman Andy Biggs and I'm happy I've been endorsed by governor Jan Brewer who is supporting me go to my website and please vote for me.

>> Thank you very much and we round out with bob.

>> I am a proven financial executive by education and vocation and I will dig into every number and make sure that we are getting maximum return and everything is spent in accordance with proper procedures.

I will safeguard your assets and I will be a very strongly focused treasurer.

Thank you.

And go to my website, go to bobfortreasurer.

>> Our next debate on Arizona horizon, Wednesday, featuring the republican candidates for governor, the G.O.P.

It's Wednesday, July 29th at 5:00 p.m. and 10:00 p.m. on Arizona horizon or watch it livestreaming at AZPPS.org or catch it all on past programming.

That is it for now.

I'm Ted Simons and you have a great evening.