State treasurer race pits office’s current deputy against think tank analyst

The state of Nevada collects a lot of money from taxes, fees and investments — and while the state Legislature directs how that money is spent, it’s the state treasurer who acts as steward of the state coffers.

The current treasurer, Zach Conine, has served for two terms and cannot run for office again. That has opened the door for two candidates — Republican Drew Johnson and Democrat Tya Mathis-Coleman — to replace him as treasurer in November’s general election. 

Nevada’s treasurer is essentially the state banker, whose responsibilities include managing investments, administering the sale of bonds and securities, and cutting checks when money is spent by the state controller or state agencies.

While the treasurer’s office is best known for overseeing the state’s Millennium Scholarship and unclaimed property programs, they also play a critical role in financing various public works projects and affordable housing efforts through the Nevada State Infrastructure Bank.

The state treasurer is also responsible for overseeing the state’s credit rating, which helps to determine how much Nevadan taxpayers will end up paying when the state issues bonds. 

Tya Mathis-Coleman

Mathis-Coleman has served as the Deputy Treasurer for College Savings and the Millennium Scholarship for more than six years. Prior to her role in the treasurer’s office, she worked in recruitment at her alma mater, the University of Nevada Reno, then moved to Clark County School District, where she would become the director of recruitment and oversee the team responsible for hiring approximately 2,600 teachers each year. 

If elected, she said her top priorities would be to protect taxpayer money and ensure the stability of state finances. 

“I know that I will be the only person that can hit the ground running on day one,” Mathis-Coleman said. 

Mathis-Coleman said she would leverage her long-time experience at the treasurer’s office to make housing more affordable, healthcare more accessible, and education more attainable.   

She highlighted her role in securing three credit rating increases for Nevada, bringing in over $1.6 billion in investment returns, and returning $400 million in unclaimed property.  

As part of the treasury leadership team, Mathis-Coleman said she helped leverage the State Infrastructure Bank to finance more than 10,000 affordable housing units across Nevada. She pointed to the Carville Park Apartments in Reno, which provided affordable housing to seniors for as little as $1 per month. If elected, she said she would continue working on expanding affordable housing. 

“We’ve made great gains when it comes to using the infrastructure bank for affordable housing,” Mathis-Coleman said. “I’m very proud of that work.”

Mathis-Coleman said she would also prioritize mortgage down payment assistance to first time homebuyers, especially for veterans. 

Managing the state’s Millennium Scholarship is a major responsibility of the office, however, the scholarship has faced financial troubles in recent years. Mathis-Coleman said she would work with the Legislature to fully fund the program for at least the next two years, and ensure students who are relying on the scholarship receive their expected funds.   

“My goal is to continue to work with the Legislature to make sure that the program is adequately funded,” Mathis-Coleman said. “I want to make the scholarship more effective and make it more competitive so that it actually keeps our best students in Nevada.”

Mathis-Coleman said she would also like to expand Nevada’s  529 college savings plans, which offer prepaid tuition programs.

While the state treasurer’s office does not directly fund healthcare, Mathis-Coleman said the office could expand the state’s Health Equity and Loan Assistance (HEAL) Program, which provides loan forgiveness to healthcare professionals who commit to providing healthcare services in rural or urban underserved communities. 

She also said the Nevada State Infrastructure Bank could be leveraged to help finance the construction of new health care facilities in rural communities. 

“I think it is such a disgrace that we have many rural communities that do not have access to emergency healthcare within an hour,” Mathis-Coleman said.

Mathis-Coleman said the main difference between her and her Republican opponent is experience and a proven track record managing the state’s finances. 

“I’ve spent years, decades in other public institutions here in Nevada serving Nevadans. Drew to my knowledge has never held an office and has no experience overseeing Nevada public funds in any capacity,” Mathis-Coleman said.

Drew Johnson

Johnson did not respond to Nevada Current’s request for an interview.

Johnson founded the Beacon Center of Tennessee, a conservative think tank, which expanded charter school vouchers, loosened regulatory rules on entrepreneurs and ended regressive taxes that harmed lower-income individuals, his website says.  The site also says he and his wife now have a consultant service that works with “free market think tanks and pro-liberty grassroots organizations.”

Johnson unsuccessfully ran against U.S. Rep. Susie Lee for U.S. Nevada House District 3 in 2024, losing by 2.8 points. In 2022, he unsuccessfully ran for Clark County commissioner, losing to incumbent Justin Jones by 336 votes.

On his campaign website, Johnson said his priorities for state treasurer are cutting waste, slashing fees, increasing financial literacy, modernizing the state financial systems, boosting Nevada’s credit rating, lowering borrowing costs, maximizing investment returns, and returning unclaimed property. 

Johnson describes himself as a “well-known government waste expert” and “budget watchdog” on his campaign website. Johnson said on social media that he was proud to serve on the board of DOGE Nevada, a nonprofit with no ties to the former federal government program. 

If elected, Johnson noted he would focus on reviewing state accounts, vendor contracts, and fee structures to push for leaner operations and greater accountability in the treasurer’s office. 

Administrative costs in the treasures office could also be trimmed by modernizing the state’s financial systems, Johnson’s website says.