City treasurer praises decision to replace full-time employee responsible for city's $500 million portfolio
Chandler Asset Management, Inc., of San Diego was unanimously approved by the Oceanside City Council Wednesday as the first outside firm to manage Oceanside’s roughly $500 million investment portfolio.
The city’s previous treasury manager, Steve Hodges, resigned Nov. 1, and recruiting efforts to fill the position were unsuccessful. So the city staff researched other options and recommended outsourcing the job to an external investment manager.The city’s part-time elected treasurer, Victor Roy, attended his first City Council meeting in months Wednesday, wearing a Santa hat and a red bow tie, and praised the decision to outsource.
External control will bring a better range and flexibility for the city’s investments, with more safety and liquidity, he said. “We aren’t giving up any of the access that we currently have or that we’ve had in the past,” Moya said.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Session 2023: Hosemann proposes tax refund checks up to $500, increased ed spending, health care fixesHosemann said his proposal will be to refund taxpayers 'dollar-for-dollar' what they paid in state income taxes for the past year 'from the bottom up, until we run out of money.'
Read more »
Ian McCreary: Sask. chose $500 cheques instead of better investmentsA Saskatchewan farmer questions the decision to send people $500 cheques instead of paying down debt or investing in health and education.
Read more »
Shohei Ontani poised to become MLB’s first $500 million man next winterOhtani has never been about money, but he’s made enough for his otherwise beleaguered employer, and it’s time for him to be paid his true value.
Read more »
Man accused of stealing PS5 in armed robbery during meetup outside League City PD stationThe suspect agreed to meet the 19-year-old victim outside a police station, but even that didn't prevent the robbery. Police are still looking for a second suspect accused of pointing a gun.
Read more »
Chula Vista City Council Decides How District 3, City Attorney Seats Will be FilledAt a Chula Vista City Council meeting Tuesday, local leaders decided how they will fill the District 3 City Council and City Attorney seats.
Read more »
Oakland City Council to reinstate mask mandate in city facilitiesMasking is once again required to enter city facilities in Oakland following a vote by the City Council Tuesday evening. The mandate applies to all people ages 6 and older.
Read more »