As Franklin County treasurer Cordray focused on four major initiatives: collection of delinquent tax revenue through a tax lien certificate sale, creation of a land bank, personal finance education, and the development of a community outreach program. He managed a portfolio that averaged $650 million and consistently beat its benchmarks, and set new records for delinquent tax collection in Franklin County, which was the only Ohio county with a AAA credit rating. He also served as president of the Board of Revision and chair of the Budget Commission. In 2005, Cordray was named the national County Leader of the Year by "American City & County" magazine.