Dee DeQuattro

Former Treasurer Frank Caprio may not be the only Democrat seeking the General Treasurers seat.

Sources say that Ernie Almonte, former state auditor general, will end his bid for governor and instead throw his hat into the General Treasurer ring.

Almonte announced last year that he will be running for Governor in 2014 as a Democrat. Since then General Treasurer Gina Raimondo, and Providence Mayor Angel Taveras have been floating the idea of a possible run for governor.

In a Taveras, Raimondo primary Almonte was the clear underdog. Almonte has been actively fundraising and hiring pollsters to help with his political bid. It is possible the behind the scenes advisors and pollsters are weighing on the decision.

While Almonte has made no official announcement at this time it seems likely that people can expect a formal announcement sooner, rather than later- possibly as early as next week.

"I have the expirience and qualifications to be successful as either the governor or the treasurer," said Almonte, noting he was not ready to discuss the matter further today.

Almonte has dedicated some of his time recently to help local municipalities including Pawtucket on a pro-bono basis to review municipal pensions.

Almonte grew up in Johnston and graduated from Bryant University with a BA and a master's degree in taxation. He served has Rhode Island's auditor general from 1994 to 2010.

He was also named national chairman for the American Institute of Certified Public Accountants and currently serves as the Chairman of the U.S. Department of Defense Audit Committee.

(c) WLNE-TV 2013

Dee DeQuattro is the assignment desk manager and digital news coordinator for ABC6. She studied politics and communications and holds a master's degree from Providence College. Follow her on twitter @deedequattro and log on to ABC6 .com for her latest in depth coverage of politics and news.