The City Treasurer's role is to oversee the City's investment function and develop prudent investment and banking policies to assure that investment principal is protected, liquidity is maintained while portfolio yields are safely maximized.
The City Treasurer is elected at-large and serves a four-year term. Along with Finance staff, the Treasurer administrates all City funds, and provides accountability to the citizens of Manhattan Beach.
The Treasurer's responsibilities include investment of idle funds; reporting such activities to the City Council; and serving as Chair of the Finance Subcommittee.
The Treasurer oversees the City's $60 million investment portfolio (PDF). The portfolio contains instruments such as Federal Agencies, high-grade corporate bonds and Treasury notes. The State's Local Agency Investment Fund is also used to ensure proper cash flow and liquidity. The City's Investment Policy (PDF) places emphasis on safety and liquidity.