Candidate for
City Treasurer; City of San Carlos

I established three goals when I was first elected city treasurer in 1987 to strengthen the city's financial environment which were and are still even more important in today's changing financial and out-sourcing environment. The goals are to 1) ensure that funds are properly invested and spent wisely, 2) enhance internal controls, and 3) enhance the budget process. With the cooperation and assistance of city staff, these goals have been and continue to be implemented. An additional goal is to continue financial education in order to keep abreast of the changing financial environment which includes pension accounting changes being considered by the Government Accounting Standards Board and viability of the City's Redevelopment Agency because of recent Assembly bills enacted into law.

Implementation of the first goal, ensuring that funds are properly invested and spent wisely, began with the city staff and myself establishing an investment policy to identify and allocate allowable investments for the purpose of ensuring that city investments are safe, liquid, and provide realistic yields. This policy is reviewed and updated yearly. The continuining education that I take, at no cost to the city, enables me to provide meaningful input and to make appropriate changes to the investment policy.

In regards to funds being spent wisely, I believe it is important and necessary to independently review invoices submitted for payment. For example, I previously questioned the need for approving an invoice for ten employees to go on a three day North Carolina trip to observe a software program. Another example involved a contractor's request for three months payment prior to performing contract work. These requests were not approved for payment.

I believe that my second goal, internal control, is equally important in this ever changing financial environment. Previously, I discovered that employees were approving their own request for payment of expenses. Internal controls were strengthened to avoid this from happening in the future. The recent trend of out-sourcing services also disclosed the need for revisions to the city's internal controls. For example, out-sourced city payroll function, while continuing to provide timely payment to employees, failed to timely distribute employees designated payroll deductions. Internal controls have been implemented to prevent any further re-occurrence.

In regards to my third goal, the enhancement of the budget process, last year I participated in a joint city treasurer, city council and city staff adhoc committee to address the budget process. The committee established a process which was implemented in this year's budget process of priortizing budget activities to match projected general fund revenues, with the top priority going to core (required by law) activities, then activities with community importance, and lastly activities that may benefit the community but are neither core or of primary community importance. An independent reality check needs to be undertaken to determine the results of this new process and whether further changes to the budget process should be made.

Finally, my continued financial education at my own expense is vital. The financial environment is undergoing a dramatic change resulting from economic conditions, the State Governor enacting new Redevelopment Agency financial laws, the Government Accounting Standards Board establishing new accounting treatment for pension and other costs, and a recent trend in out-sourcing of services. Ongoing financial education is critical to keep abreast of these and other financial changes to ensure that the City responds appropriately, in a timely manner, and in the interest of the residents of San Carlos.

These goals have and will continue to strengthen my commitment to enhance city financial controls in partnership with city staff. My eductional background, financial experience and ongoing financial education coupled with my commitment to promote superior business practices relative to the protection, investment and proper distribution of city monies highly qualifies me to once again serve as City Treasurer.