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TEXAS 13 SERVER July 23, 1982 _ A Journal of Free Voices 75 Photo by Scott Newton “There’s So Much To Be Done ” Democratic state treasurer candidate Ann Richards, 49, is a forthright, articulate woman with piercing blue eyes, a Texas drawl, and gray-blonde, well-coiffed hair. For the interview, she sat at a battered card table in the cramped 2nd-floor Austin campaign headquarters. Among the clutter on the table was a 1981 edition of the Texas Banking Red Book and buttons proclaiming “I Saw E.T.,” “Getting Better With Age,” and “Elect Women.” J.H. Austin State rep. Frank Hartung, a Houston securities analyst, claims the state is losing up to $40 million a year because of its archaic money management practices. Do you agree, and if so, what can be done? I agree that the state is losing money. Any time you start bandying numbers around, usually it’s for press purposes, and you can never be sure about nailing down exactly how much. You ask, ‘Be specific with me; losing it where and how much in each of the areas?’ I could be specific in that area of investing $5,000 in 1400-plus banks. We know we’re losing $950,000 interest a year. That’s a specific you can actually add up in dollars and cents. In terms of how much we’re really losing, we’re not gonna know until we can get in there and put some moneymanagement techniques into that office, and computerize that office before that can be determined. So you’ll hear a number anywhere from starting at 950,000 running up to 4 million. Now obviously the 1400 banks hav ing a small portion of those state deposits is not particularly efficient. What was the reasoning behind that? Well, originally the number was a lot higher. I guess we ought to start back at the beginning. When you stop to think that we have only had two treasurers in the state of Texas for 40-some odd years, in terms of the last agency in Texas to have any kind of modernization of the office, the treasurer’s office is it. That’s why nailing down how much you can gain or how much you are losing is real