All registered voters in the state of Florida can cast a ballot for Chief Financial Officer.
The Chief Financial Officer (CFO) of Florida is a key executive position responsible for overseeing various critical functions within the state government. As a constitutional officer, the CFO plays a pivotal role in managing the financial, insurance, and fire-related aspects of Florida. The following comprehensive description outlines the diverse responsibilities and roles undertaken by the CFO in serving the state and its citizens.
Key Responsibilities:
Financial Oversight: As the chief fiscal officer of the state, the CFO settles and approves accounts against the state.
They are responsible for managing and safeguarding all state funds and securities, ensuring transparency and accountability in financial matters.
They monitor the investment of state funds to optimize returns while mitigating risks.
Insurance Regulation: The CFO takes charge of insurance consumer services, overseeing the licensing and supervision of insurance agents and agencies to ensure compliance with regulations.
They conduct investigations into insurance fraud.
The office ensures businesses have adequate workers’ compensation coverage for employees, supporting injured workers with benefit payments and re-employment assistance.
Unclaimed Property Management: The CFO manages and administers the state’s unclaimed property program, aiming to reunite owners with their lost assets.
This office also implements strategies to deal with unclaimed property, including auditing and reporting functions.
Risk Management and Deferred Compensation: The CFO leads the state’s risk management program, identifying and mitigating potential risks to safeguard state assets.
He or she administers the deferred compensation program, providing state employees with valuable retirement benefits.
State Fire Marshal: The CFO serves as the State Fire Marshal, overseeing fire-related training, education, and services across the state.
This officeholder collaborates with local fire departments, conducts consumer education, and ensures the highest standards in fire training at state fire-training colleges.
Florida Cabinet Member: The CFO serves as a member of the four-person Florida Cabinet, collaborating with the Governor, Attorney General, and Commissioner of Agriculture and Consumer Services.
This position also participates in decision-making on matters such as state land purchases, clemency, bond management, veterans’ affairs, law enforcement administration, tax collection, power plant sitings, and financial and insurance regulation.
Qualifications: The CFO must be at least 30 years old and have been a resident of the state for seven years prior to assuming office.
Upholds the responsibilities outlined in the Florida Constitution, Article IV, Sections 4 and 5.
Jimmy Patronis is a Panama City native. He earned an associate degree in restaurant management from Gulf Coast Community College and a bachelor's degree in political science from Florida State University. "He combines his passion for hospitality and politics. As a partner in the family-owned Captain Anderson’s seafood restaurant, which marked its 50th anniversary in 2017, Jimmy has contributed to its success. His journey in public service began as an intern in both the Florida Senate and the United Kingdom’s House of Commons. Following this, Governor Lawton Chiles appointed him to the Florida Elections Commission, a position later reaffirmed by Governor Jeb Bush after his college graduation. Serving in the Florida House of Representatives from 2006 to 2014, Jimmy represented his hometown in the Florida Panhandle.
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