The Comptroller is elected statewide to a four-year term. There is no limit to the number of terms that can be served. The only requirements to run for the office are that the candidate be a U.S. citizen, a registered voter, at least 30 years of age, and a resident of the state for the preceding seven years.
The Comptroller accounts for the state's budget to ensure that it is spent properly, ensures that state chartered financial institutions are operated properly, administers the Florida Securities Act, which protects investors, and regulates consumer finance companies. The Comptroller heads the Department of Banking and Finance. He is also the state's chief fiscal officer and in this capacity he makes sure that all monies paid to the state are deposited correctly, that payments made by state agencies are charged to the correct fund, and that agency expenditures are kept within the amount appropriated.
HISTORY: Office of Comptroller was created by the 1838 Constitution and was effective with Statehood in 1845. The Comptroller was elected by a joint vote of the houses of the legislature. The 1861 Constitution again provided for election by the joint houses. The 1865 Constitution provided for election by the people. The 1868 Constitution provided for appointment by the Governor and confirmation by the Senate. The 1885 Constitution returned election to the people. The 1968 Constitution continued election by the people.
