5 questions for Cary Kennedy

Lynn Bartels, Rocky Mountain News

Published February 26, 2007 at midnight

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For years, there's been a natural tension between Colorado's governor and the state treasurer seated just across the hall.

So far, however, it's been a lovefest between Gov. Bill Ritter and Treasurer Cary Kennedy. But then again, the two Denver Democrats took office less than two months ago.

Ritter appointed Kennedy as one of three co-chairs of his blue-ribbon commission on transportation. Ritter — and nearly everyone else at the Capitol — also hailed Kennedy after she came up with a solution to a nearly $20 million shortfall in health care funding.

Kennedy has a long history at the state Capitol. She met the man who would become her husband when both were college interns opening mail for former Gov. Roy Romer.

She worked as a budget officer in the Romer era, where she saw firsthand how funding for education got whacked whenever revenues dropped.

That inspired her to help write Amendment 23, the 2000 constitutional amendment that puts more money into Colorado's schools.

When Democrats took control of the legislature in a shocker in 2004, Kennedy served as chief of staff for Speaker Andrew Romanoff before stepping down to run for treasurer.

"This job is great," she said, seated at her treasurer's desk behind a sign that reads "The Buck Stops Here."

1. On the campaign trail, you were pressured by some influential Democrats not to highlight Amendment 23. Why did you ignore that advice?

There had been a lot of press about the challenges created by Amendment 23 (because it required more funding for education even in an economic downturn). I have consistently said that we have to keep up funding in public education. All Amendment 23 does is allow the state to keep up so we're not balancing our budget by cutting school funding year after year. My sense is that the people of Colorado are very supportive of investing in education.

2. What exactly goes a state treasurer do?

We do the banking services for the state, cash management, accounting and investments. We process between $20 million to $400 million daily. These are revenues from every source. If someone buys a fishing license in Montrose, we get the money here in the treasury. The money earns interest until it is drawn down by the department for a specific purpose. We hold $300 million in unclaimed property. Identifying the right owner is a challenge. I love to walk back there and watch them opening the unclaimed safety deposit boxes. There's jewelry and gold coins.

3. The former state treasurer, Republican Mike Coffman, got high marks for not being afraid to tangle with former Gov. Bill Owens, even though Owens was a Republican. Would you take on Bill Ritter if you thought he was wrong?

Absolutely I would voice my concerns if there were proposals that I thought didn't make sense. I feel the watchdog role is an extremely important function of this office. But at this stage, Gov. Ritter is promoting prudent and sound policies that invest in the future, protect the taxpayers and balance the budget. I feel privileged to serve with him.

4. Speaking of Coffman and watchdog, his golden retriever still spends every day at your office. Are you charging him for dog-sitting?

I feel lucky to have Buckley here. I don't think they let dogs go to most offices. It's a precedent Mike started, and the staff asked me if Buckley could stay. People have said to me, "Well, that was such a good political move on your part to say yes." I tell them, "I didn't think about it for a second. I like dogs!"

5. The running debate in this building is who's smarter, you or Andrew Romanoff. Which is it?

Definitely Andrew. (Romanoff's rebuttal: "Definitely Cary. I was just smart enough to hire her.")

Color his world green

Gov. Bill Ritter last week:

• Celebrated renewable energy on two fronts: The kickoff of a "collaboratory" deal staffed by Colorado universities and the National Renewable Energy Laboratory to research and develop renewable energy technologies, and the release of a report showing the benefits Colorado would receive if it doubled its use of renewable energy.

• Business: Unveiled a business advisory group that would advise him on business and economic development policies and strategy, and visited Montrose to help its economic council celebrate its 50th year.

• State government: Notified 32 division directors who got sweetheart contracts from former Gov. Bill Owens' administration guaranteeing them a job through June 30, 2008, that the deals are off because they violate state law.

• Amendment 41: Announced he can't accept a seat on Lufthansa's inaugural Denver-to-Munich flight because of the ethics measure.

• Governor's Mansion: Held first big event, the Colorado Press Association luncheon, at the mansion, where he and the first family now are living. Clarified, through his media office, that a March 5 event at the mansion is not an "open house" for the public, but for the media, so photographers can get shots of the governor and first lady together in the residence.

• Governor's Association: Traveled to Washington, D.C., for the group's winter meeting.

Kennedy's biography

• High school: Graduated from Manual in Denver, 1986

• Higher ed: B.A. from St. Lawrence University in Canton, N.Y.; M.P.A., Columbia University, 1993; J.D., University of Denver, 1995

• State: Budget officer, 1995 to 1999

• Children's Campaign: Budget analyst, 2002-2004

By the numbers

4 women, including Kennedy, have served as Colorado treasurer since statehood.

26 employees staff the treasurer's office.

1 political appointment is all the treasurer is allowed to make. "That's why I could go on vacation after the election," Kennedy said with a laugh.

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