Official Candidate’s Statement:
The City Treasurer is responsible for overseeing the investment of City’s funds, in accordance with State law and the Investment Policy.
My 10 years on the City Council including a term as Mayor have given me a solid understanding of the Treasurer’s duties and responsibilities. Now that my term on the City Council is ending, I hope to continue the exemplary work of retiring City Treasurer and former Mayor Joe Sherwood, who endorses my candidacy.
As City Treasurer, I would continually assess our compliance with evolving best management practices. I would initiate annual reviews of the Investment Policy, to make recommendations to the City Council for any necessary modifications; establish performance benchmarks for the portfolio; explore the alternative of retaining a professional investment advisor to actively manage the portfolio, which historically has been managed under a “hold to maturity” system; and, subject to City Council approval, appoint a citizen’s Investment Advisory Committee.
I would appreciate your vote.
Candidate’s Personal Statement:
- BA in Economics from UCLA.
- JD from UCLA School of Law.
- My civil law practice focuses on defending professionals, including accountants in securities litigation.
- Board member of the California Joint Powers Insurance Authority, the self-insurance pool for the City and more than 100 other cities and agencies, where formerly I served as Vice-President and member of the Executive Committee. The Authority currently has about $300,000,000 invested under active management.
- Board member of the Harbor Regional Center, not-for- profit corporation, overseeing an annual budget of about $200,000,000. Currently I am President, previously serving as Treasurer and on the Audit Committee.