Michael R. Smith

State of Delaware, Department of Finance

Michael R. Smith was sworn in as Delaware’s 19^th Secretary of Finance on January 28, 2025.  He was nominated by Governor Matt Meyer and confirmed by the Delaware Senate. The Secretary of Finance is the state’s chief financial officer and is responsible for promoting Delaware’s fiscal health through fair and efficient forecasting, generation, collection and accounting of state funds. He oversees the State’s Division of Revenue, Division of Accounting, Office of Unclaimed Property, and the State Lottery Office. Together these agencies collected a record $4.5 billion in gross revenue for the State’s General Fund in Fiscal Year 2024.  The Office of the Secretary is also responsible for statewide revenue forecasting, tax policy analysis, and bond finance. Secretary Smith serves on several financial oversight bodies, including the Delaware Public Employees Retirement System Board of Trustees, the Delaware Health Care Commission, and the Cash Management Policy Board to name a few.

Michael R. Smith has spent two decades in finance leadership roles within Delaware’s state and county governments, advising senior cabinet members and elected officials on matters of finance, tax, and law. Michael served as Chief Financial Officer for New Castle County, overseeing Treasury (county property tax/sewer charges); Accounting (financial reporting, performance audits, accounts payable, payroll, grants management); Budget (operating and capital); Cash and Debt Management; Assessment; and Pension. Michael’s strong financial leadership and strategic planning ensured the County’s highest credit ratings possible were maintained and left the County with historic financial reserves.

Previously, he served as Deputy Director of the Delaware Division of Revenue, where he was responsible for the administration and enforcement of the Delaware tax code, the processing of tax returns and forms, and the daily operations of all offices within the Division. Michael earned his Juris Doctorate with a concentration in tax from the Widener University School of Law and an undergraduate degree in economics and finance from the University of Waterloo.

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