LITTLE ROCK — The state Board of Finance voted Wednesday to loosen recently established job qualifications for four positions in the state treasurer’s office.

LITTLE ROCK — The state Board of Finance voted Wednesday to loosen recently established job qualifications for four positions in the state treasurer’s office.


The board was created under Act 1088 of 2103, which sought to tighten practices and procedures in the wake of scandals in the treasurer’s office under Martha Shoffner. The former Democratic treasurer was arrested in May 2013 and convicted last March on federal bribery and extortion charges.


Act 1088 required the board to set qualifications for all employees of the treasurer’s office who handle or make decisions or recommendations regarding state treasury funds. At Wednesday’s meeting, state Auditor Andrea Lea, a member of the board, moved that the board loosen the requirements it set previously for chief deputy, chief operating officer, chief financial officer and chief investment officer.


Under Lea’s motion, which the board adopted, having a college degree will continue to be required for the positions, but having a degree in an area of study related to the job will be "preferred," not mandatory.


Gov. Asa Hutchinson, the board’s chairman, led the meeting on his first full day as governor.