Candidate for
Belmont, City Treasurer; City of Belmont

In November 2003, I was sworn in as your City Treasurer. This was the beginning of the current chapter in my public service to the community. Over the past 29 years of public service, I spent three years on various committees and eight years as an elected Trustee for the Belmont-Redwood Shores School District, ten years as an appointed Commissioner on the City's Finance Commission and now eight years as your City Treasurer.

As the City Treasurer I ensure that the funds received by the City are deposited on a timely basis, that the funds are properly approved before being disbursed and that those funds not needed immediately are invested in accordance with all governing laws and following the City's Investment policy of safety, liquidity and yield. Every month, I issue a report detailing compliance with those laws and policies which summarizes the receipts, disbursements and fund balances for the City for submission to the City Clerk, the City Council and posting on the City's website.

Staying involved with the community and up-to-date on professional standards, I attend the meetings of the City Council, Redevelopment Agency, Belmont Fire Protection District, Finance Commission, and Audit Committee. I also attend the San Mateo County Financial Officers Group meetings, California State Treasurer's Local Agency Investment Fund annual conferences, and California Municipal Treasurers Association annual conferences.

The safety of your tax dollars is of utmost importance to me. The City's Treasury ranges from $15.8 million to $40.5 million and the return on the investments has ranged from 5.25% to the current level of 0.45%. While the return is at a historic low, it is extremely important to note that none of the City's money was lost during the 2008 financial crisis. The City's investments are monitored daily to ensure that they are safe, available and earning the highest possible return under the law and current market conditions.

The City is fortunate to have a highly dedicated and professional Finance Department staff under the excellent leadership of our Finance Director and I'm pleased to work collaboratively with a department that has consistently earned the Government Finance Officers Association's highest award for Excellence in Financial Reporting.

It has been an honor to serve as your City Treasurer the past eight years and I look forward to serving another four years with your support and your vote on November 8th.

Thank you.