Wyoming
Wyoming’s Highest Paid Administrator Makes $525K, Manages $30B In…
The highest paid state government administrator makes more than $525,000 a year, and most people in Wyoming have likely never heard of him.
He’s Chief Investment Officer Patrick Fleming, who recently announced he’ll step down from the post next June.
According to the state auditor’s office, Fleming made $525,959 in 2023, more than any other elected official or department head in the state. After tax deductions, Fleming’s take-home pay was $367,771.
The only Wyoming state employees making more than Fleming in 2023 were involved with University of Wyoming athletics: former UW football coach Craig Bohl, former UW men’s basketball coach Jeff Linder and the university’s athletic director, Tom Burman. That’s according to government spending website Openthebooks.com.
How It Compares
As chief investment officer, Fleming is responsible for managing the state’s more than $30 billion worth of non-pension assets.
In a statement, Fleming said he’s looking forward to spending more time with family and friends.
“I really enjoy my work and am proud of how our office has grown and what we have accomplished,” Fleming said. “There are still a few things I’d like to see us complete before I step aside at the end of June, but I felt it was appropriate to announce this decision now so I can help the Treasurer work with the Legislature and create a generational fund – which I also believe is vital for our State’s future – as well as provide ample time to implement a succession plan.”
Since joining the state in 2014, Fleming helped grow Wyoming’s sovereign wealth fund from $19.5 billion to more than $30 billion, with nearly $9 billion used during that time to support the state’s budget and an additional $450 million in revenue produced over the last six years.
State Treasurer Curt Meier highlighted Fleming’s record in a press release announcing his retirement.
“The job Patrick has done during his tenure has been vital to the well-being of the entire state,” Meier said in the press release. “The earnings distributed as part of the budget funding is equivalent to about a third of all the State’s revenues during that time period. This has decreased the tax burden on our citizens while preserving services vital to the Cowboy State.”
Grew Wyoming’s Investments
Masoudi Hesam, the chief investment officer for the Wyoming Retirement System, made only $440 less than Fleming in 2023 at $525,519.
Meier told Cowboy State Daily where Fleming made his biggest impact was in the mentorship he showed to his staff, which he grew to a team of 10 during his time. He also said Fleming was adept at understanding the world’s markets and how they could affect Wyoming’s investments and investment opportunities.
Under Fleming’s watch, the treasurer’s office also instituted a volatility-based risk measurement system while moving away from traditional equity and bond approaches.
Gov. Mark Gordon, who worked directly with Fleming when the governor was state treasurer, also commended Fleming’s “unwavering commitment to Wyoming and ability to explain complex financial ideas in a way that gave confidence to policymakers paved the way for the program to evolve into the bellwether sovereign wealth investment house it has become.”
“Every Wyoming citizen has more money in their pocket as the result of his skill and leadership,” Gordon said. “Beyond his service to the state, though, Patrick is a real friend who has always put Wyoming first. He will be missed.”
According to the treasurer’s office, Fleming previously spent 30 years working in Tokyo, Hong Kong, London and New York specializing in domestic and global bond markets, equities and commodities. He also is the former CEO of a 77-year-old investment firm in New York and taught corporate finance, investment management and energy trading at the University of Wyoming.
Industry Standard
State Rep. Liz Storer, D-Jackson, a member of the Select Committee on Capital Financing and Investments which has been critical at times of the state’s investing decisions, said Fleming’s pay is somewhat competitive when compared to what’s offered in the investment industry.
Anything less, she said, and the state would be forced to hire people with less experience that would likely leave as soon as they were offered a higher paying opportunity.
“It’s pretty equitable with the capital finance performance pay for positions of CIO as well as investment managers and how they’re paid in the real world,” Storer said. “It’s kind of what you need to pay in order to be competitive.”
Meier went even further, arguing that the base salaries paid out in his office as well as the Wyoming Retirement System are “well below” industry standards.
“Even after exceeding our benchmarks for each of the past five years, the overall pay package barely gets them to the medium,” he told Cowboy State Daily.
Fleming made $275,959 in his base salary and an additional $250,000 in performance compensation in 2023.
“If you pay for performance, at least you can retain them for longer,” Storer said.
The treasurer’s office will begin the process of finding a CIO in the coming months.
Storer said she’d like to see a strong emphasis made on experience in private equity and an understanding of the world markets for the state’s next CIO.
Meier said he hopes to find someone with similar professionalism and experience to Fleming, who he said he will utilize for input during the hiring process.
Leo Wolfson can be reached at leo@cowboystatedaily.com.
Wyoming
University Of Wyoming Budget Spared (For Now), Biz Council Reined In
If the Wyoming House and Senate approve its budget changes, then the chambers’ Joint Conference Committee will have helped the University of Wyoming dodge a $40 million cut, while also limiting the Wyoming Business Council to one year’s funding instead of the standard two.
The Joint Conference Committee adopted numerous changes to the state’s two-year budget draft, but didn’t formally advance the document to the House and Senate chambers. The committee meets again Monday and may do so at that time.
Then, the House and Senate can vote on whether to adopt that draft by a simple majority.
First, UW
Starting in January, the Joint Appropriations Committee majority had sought to deny around $20 million in exception requests the University of Wyoming made, while imposing a $40 million cut to the university’s block grant.
That’s about 10% of the state’s grant to UW but a lesser proportion of the school’s overall operating budget.
The Senate sought to restore the $60 million.
The House sought to keep the denials and cuts, ultimately settling on a bargain to cut $20 million, and hinge UW’s retention of the remaining $20 million on its finding and reporting $5 million in savings.
The Joint Conference Committee the House and Senate sent into a Friday meeting to negotiate those two stances chose to fund UW “fully,” Senate Majority Floor Leader Tara Nethercott, R-Cheyenne, told Cowboy State Daily in the state Capitol after the meeting.
But, $10 million of UW’s $40 million block grant won’t reach it until the school charts a “road map” of how it could save $5 million, and reports that to the Joint Appropriations Committee, she added.
“A healthy exercise, I think, for them to participate in, while the Legislature still allows them to receive full grant funding,” Nethercott said.
“I’m hopeful people feel confident the University is fully funded,” she continued, as it’s “on the brink of receiving a new president, having the resources he or she may need to continue to steer the leadership of the University, our state’s flagship school into the future.”
Hours earlier in a press conference, House Speaker Chip Neiman, R-Hulett, said the Legislature has been clear that UW should avoid “diversity, equity, and inclusion” or DEI programming, and that it’s the position of the House majority that the school should tailor its programming to Wyoming’s true business needs – so UW graduates will stay in the state.
Within an earlier draft of the budget sat a footnote blocking money for Wyoming Public Media — a publicly funded media and radio entity funded through UW’s budget.
That footnote is gone from the JCC’s draft, said Nethercott.
Wyoming Business Council
The Wyoming Business Council is set to receive roughly $14 million, confined to one year, for its internal operations, said Nethercott.
“Both chambers have decided to only fund the operations,” Nethercott said, “not all the grant programs.”
She said that’s to compel the Legislature to revisit the concerns it has with the agency, then return in the 2027 legislative session with a vision for its future.
The Business Ready Communities program is “eliminated,” she said.
JCC member Rep. Ken Pendergraft, R-Sheridan, elaborated further.
Of the appropriation, $12 million is from the state’s checking account, plus the state is authorizing WBC to use $157,787 in federal funds and nearly $1 million from other sources.
“We’re going to take it up as an interim topic in appropriations (committee) and how to rebuild it and make it work the way we think it should work,” said Pendergraft. But the JCC opted to fund the Small Business Development Center for two years, along with Economic Diversification Division for Manufacturing Works, and the Wyoming Women’s Business Center, Pendergraft noted, pointing to that language on his draft budget sheet.
Pendergraft made headlines last year by saying he wanted to eliminate the Wyoming Business Council altogether.
But Nethercott told the Senate earlier this month, legislators have complained of that agency her entire nine-year tenure.
She attributed this to what she called communications shortfalls that may not be intentional. She cosponsored a now-stalled bill this year that had sought to adopt a task force to evaluate WBC.
The Wyoming Business Council’s functions range from less controversial, like helping communities build infrastructure, to more controversial, like awarding tax-funded grants to certain businesses on a competitive application process.
Wyoming Public Television
Wyoming Public Television, which is not the same as Wyoming Public Media, is slated to receive the $3 million it lost when Congress defunded the Corporation for Public Broadcasting, Nethercott said.
It will also receive its usual $3 million from Wyoming.
The entity will not receive another $3 million it had sought to upgrade its emergency-alert towers, said Nethercott, “because we received information from them… they have another source to pay for the replacement and maintenance of the towers.”
Like the Wyoming Business Council, the Wyoming Public TV’s functions range from less controversial to more controversial.
The entity operates, maintains and staffs emergency alert towers throughout Wyoming.
Wyoming Public TV also produces entertainment and informational movies. Its state grants run through the community colleges’ budget.
State Employees
Nethercott noted that the JCC advanced to both chambers an agreement to pay $111 million from the state’s checking account to give state employees raises.
Those raises would bring them to 2024 market values for their work, she noted.
Because that money is coming from the state’s checking account, or “general fund,” and not its severance tax pool as the House had envisioned, then $111 million won’t impact the $105 million investment another still-viable bill seeking to build an “energy dominance fund” envisions.
That bill, sponsored by Senate President Bo Biteman, R-Ranchester, seeks to lend to large energy-sector projects.
Biteman told Cowboy State Daily in an interview days before the session convened that its purpose is to counteract “green” compacts investors have adopted, and which have bottlenecked energy projects.
Wyoming’s executive branch is currently suing BlackRock and other investors on that same assertion.
Clair McFarland can be reached at clair@cowboystatedaily.com.
Wyoming
Casper veteran David Giralt joins race for Wyoming U.S. House seat
Wyoming
Rivalries and Playoff Positioning Highlight Week 11 Wyoming Girls Basketball Slate
It’s Week 11 in the 2026 Wyoming prep girls’ basketball season. That means it’s the end of the regular season. 3A and 4A schools have their final game or games to determine seeding before the regional tournament, or if a team is locked into a position, one last chance to fine-tune before the postseason. Games are spread across four days.
WYOPREPS WEEK 11 GIRLS BASKETBALL SCHEDULE 2026
Every game on the slate is a conference matchup. Several rivalry contests are part of this week’s schedule, such as East against Central, Cody at Powell, Lyman hosting Mountain View, and Rock Springs at Green River, just to name a few. Here is the Week 11 schedule of varsity games WyoPreps has. All schedules are subject to change. If you see a game missing, please email david@wyopreps.com.
CLASS 4A
Final Score: Laramie 68 Cheyenne South 27 (conference game)
CLASS 3A
Final Score: Lyman 40 Mountain View 26 (conference game)
CLASS 4A
Final Score: Evanston 41 Riverton 39 (conference game)
Final Score: Natrona County 42 Kelly Walsh 38 (conference game) – Peach Basket Classic
Final Score: #4 Thunder Basin 64 Campbell County 32 (conference game)
CLASS 3A
Final Score: #1 Cody 77 Worland 33 (conference game) – 5 different Fillies with a 3, and Hays led the way with 34 points.
Final Score: #2 Lander 49 Lyman 34 (conference game)
Final Score: #4 Wheatland 51 Douglas 40 (conference game)
Final Score: #5 Powell 48 Lovell 42 (conference game)
Final Score: Burns 56 Torrington 43 (conference game)
Final Score: Glenrock 78 Newcastle 30 (conference game)
Read More Girls Basketball News from WyoPreps
WyoPreps Coaches and Media Basketball Polls 2-25-26
WyoPreps Girls Basketball Standings 2-23-26
WyoPreps Girls Basketball Week 10 Scores 2026
WyoPreps Coaches and Media Basketball Polls 2-18-26
WyoPreps Girls Basketball Week 9 Scores 2026
WyoPreps Coaches and Media Basketball Polls 2-11-26
WyoPreps Girls Basketball Week 8 Scores 2026
WyoPreps Coaches and Media Basketball Polls 2-4-26
WyoPreps Girls Basketball Week 7 Scores 2026
WyoPreps Coaches and Media Basketball Polls 1-28-26
Nominate A Basketball Player for the WyoPreps Athlete of the Week Honor
WyoPreps Coaches and Media Basketball Polls 1-21-26
WyoPreps Girls Basketball Week 5 Scores 2026
WyoPreps Coaches and Media Basketball Polls 1-14-26
WyoPreps Girls Basketball Week 4 Scores 2025-26
WyoPreps Coaches and Media Basketball Rankings 1-7-26
WyoPreps Girls Basketball Week 3 Scores 2025-26
WyoPreps Coaches and Media Basketball Rankings 12-24-25
WyoPreps Girls Basketball Week 2 Scores 2025-26
WyoPreps Coaches and Media Basketball Rankings 12-17-25
WyoPreps Girls Basketball Week 1 Scores 2025-26
CLASS 4A
Rock Springs at #2 Green River, 5:30 p.m. (conference game)
#4 Thunder Basin at #5 Sheridan, 5:30 p.m. (conference game)
#1 Cheyenne East at #3 Cheyenne Central, 6 p.m. (conference game)
Jackson at Star Valley, 6 p.m. (conference game)
CLASS 3A
#3 Pinedale at Mountain View, 4 p.m. (conference game)
#1 Cody at #5 Powell, 5:30 p.m. (conference game)
Buffalo at Glenrock, 5:30 p.m. (conference game)
CLASS 3A
Newcastle at Buffalo, 12:30 p.m. (conference game)
Glenrock at Rawlins, 3 p.m. (conference game)
Torrington at #4 Wheatland, 5:30 p.m. (conference game)
Wyoming Boys 4A Swimming & Diving State Championships 2026
4A Boys State Swim Meet for 2026 in Cheyenne
Gallery Credit: David Settle, WyoPreps.com
-
World2 days agoExclusive: DeepSeek withholds latest AI model from US chipmakers including Nvidia, sources say
-
Massachusetts3 days agoMother and daughter injured in Taunton house explosion
-
Montana1 week ago2026 MHSA Montana Wrestling State Championship Brackets And Results – FloWrestling
-
Louisiana5 days agoWildfire near Gum Swamp Road in Livingston Parish now under control; more than 200 acres burned
-
Denver, CO2 days ago10 acres charred, 5 injured in Thornton grass fire, evacuation orders lifted
-
Technology7 days agoYouTube TV billing scam emails are hitting inboxes
-
Technology7 days agoStellantis is in a crisis of its own making
-
Politics7 days agoOpenAI didn’t contact police despite employees flagging mass shooter’s concerning chatbot interactions: REPORT