- General Information: email@example.com
- Address: 1315 Valley Drive, 2nd Floor, Hermosa Beach, CA 90254
- Office Hours: The City Treasurer does not maintain regular hours at City Hall.
The City Treasurer administers the City's investment portfolio, currently $36.1 million dollars, including investment of idle funds and bond proceeds, in compliance with the City's Investment Policy which is adopted by the City Council, and places emphasis on safety and liquidity.
The City Treasurer is elected at-large and generally serves a four-year term. In November 2019, the City Treasurer was elected to a five-year term through November 2024 in order for the City to align with even-year Los Angeles County elections. The change from odd-year elections should result in reduced City election costs along with increased voter turnout.
The City Treasurer submits a monthly investment report to the City Council. It includes information about the investment of all funds in the custody of the City. This report includes all items listed in Section 53646(b) of the Government Code and the following information:
- A list of individual securities held at the end of the reporting period.
- Unrealized gains or losses resulting from amortization or accretion of principal versus market value changes by listing the cost and market value of securities owned by the City.
- Dollar weighted yield to maturity of the City's investments.
- Maturity schedule by type, of each of the City's investments.
- Market value, book value, par value and cost basis of all investments.
Statements of Economic Interests / Fair Political Practices Commission Filings
The City Treasurer is an elected officer identified in Government Code Section 87200 and files statements of economic interests with the City Clerk's office. Copies of the statements of economic interests may be obtained by visiting the offices of the Fair Political Practices Commission (FPPC) or the City Clerk. The physical address of the FPPC is 428 J Street, Suite 620, Sacramento, California 95814. The physical address of the City Clerk's office is 1315 Valley Drive, Hermosa Beach, California 90254 - call (310) 318-0204 for details. The statements of economic interests for some State and local government agency elected officers may be available in electronic format on the FPPC's website at http://www.fppc.ca.gov/.