State treasurer and comptroller discuss Indiana's financial state, challenges ahead

State Treasurer Daniel Elliott and State Comptroller Elise Nieshalla credit conservative principles for Indiana's strong financial standing. 

The two shared remarks and took questions at a gathering held Wednesday at the Fulton County Museum and sponsored by the Fulton County GOP. 

Republican Party Chairwoman Amy Roe opened the event by noting its purpose was to give everyone, regardless of party affiliation, the opportunity to engage with elected officials. Still, turnout was somewhat low for the state's top financial officials and made up primarily, if not all, of Republicans – many serving at the local level in government. 

The format was fairly informal, with Elliott and Nieshalla deciding among themselves who would speak first after an opening flag ceremony and Pledge of Allegiance led by local Boy Scout Troop 219. 

Nieshalla began by noting that while the state of Indiana is in a strong financial position, the country's debt is a problem of "epic proportions" and "public enemy number one."

"We are crippled under 36 trillion dollars of debt," she said, adding that interest payments are now $1 trillion annually, eclipsing the annual budgets of the U.S. military, Medicare, Medicaid and soon Social Security. 

Nieshalla initiated and chairs the National Debt Crisis Task Force, composed of 37 state financial officers advocating for action on the country's debt burden. It has three asks of President Trump and Congress to get the federal government's fiscal house in order: Spend less in 2025 than in 2024; get back to a balanced budget as soon as possible; and unleash economic prosperity through energy independence, with a timeline for reducing the debt that is empowered by a growing economy.

"We are stealing from future generations, and this mounting debt will be crippling for them if we don't take responsibility and deal with it now in our generation," she said, adding that it's time to "make America's finances great again," or rather, "make America like Indiana."

She went on to proudly display Senate Resolution 51, passed on April 7, recognizing the national debit as a threat to national security. 

"We are 100 percent the same in protecting Hoosier taxpayers and focusing on conservative principles," Elliott said of Nieshalla and himself. 

Serving as as state treasurer since 2023, Elliott shared that he has raised $8 billion for the state of Indiana. For context, he noted the total over the prior 10 years was $636 million. 

"The reality is good, conservative principles just make sense," he said. 

He went on to speak about fighting battles in getting Fulton County's 911 center operational, removing global investment firm BlackRock from handling the state’s portfolio due to "woke" corporate policies and rejecting a backroom deal that would have given control of TrustINdiana and tax dollars to big banks and their lobbyists. 

On the 911 center, Elliott detailed meeting with representatives of Motorola and AT&T to resolve an issue surrounding failed tests prior to its opening. He gave them a two-week deadline, advising he would hold a press conference if it wasn't met. A few additional days were requested, but the issue was eventually resolved by replacing a coaxial cable used in the last mile.

"What I learned from that experience, and I thank Fulton County for that, is that sometimes you have to be willing to step out and step up," he said. 

On TrustINdiana, Elliott said lob­byists from the Indiana Bankers Association added a last-minute provision to the state's budget in an attempt to get back at him by giving control of the program to a board of primarily bankers. 

"They literally went behind my back and put it in the budget bill," he said, 

He equated the proposal to "putting foxes in charge of the henhouse" and noted additional limitations on investing were proposed.   

In responding to a question later, he said his issue was not with the proposal of a board, but rather its makeup. He instead suggested a larger board that would include local government officials and financial advisors to oversee the program. 

"I'm committed to fighting for conservative values and Hoosier taxpayers," Elliott said. "I will not back down."

He later commented that cybersecurity is the biggest challenge moving forward and every community needs a plan to prevent cyber attacks. Nieshalla agreed, adding that consolidating fund numbers for the State Board of Accounts, Department of Local Government Finance and local governments will also be a big challenge for her office.

The event wrapped up with former county councilwoman Phyl Olinger and Fulton County Auditor Kathy Adamson receiving special recognition for their support to the Republican Party. Roe also detailed upcoming events, including summer parades and plans for a new Lincoln Lawn Reception Sept. 13 in Leiters Ford. Lastly, she noted work continues on the party's new website at fultoningop.org, which will eventually feature an event calendar and information about elections and elected officials.

State Comptroller Elise Nieshalla talks with attendees.

Local Boy Scouts Troop 219.

State Comptroller Elise Nieshalla and Gary Roe.

Fulton County Auditor Kathy Adamson, former county councilwoman Phyl Olinger and Fulton County Republican Party Chairwoman and Rochester City Councilwoman Amy Roe.