Candidate for
City Treasurer; City of Lake Elsinore

My name is Peter Weber, I have been the elected Treasurer for the City of Lake Elsinore for the past 5 years.

During my tenure I have:

Presented a balanced annual budget to the Council every year.

Self audited 15 city bond issues and discovered the debt on the city stadium was $38 million, not the $18 million that had been stated by staff.

Monitored the budget and apprised the Council of when the budget was in jepordy of not being balanced so appropriate action could be taken to manage and keep a balnaced budget.

Asked and got the Council to change auditors to ensure auditor independence of the city financial statements and keep the city adherence to auditing statutes and laws.

Made an investment policy that nets the city hundreds of thousnands of dollars in interest income per year by investing in high yeild safe treasury bonds.

Developed an audit commttee which ensures we are adhering to government law and increases fiscal oversight.

Got the Council to approve the return of $2.4 million to the Summerhill section of homeowners bond reserves. This money was due to them due to a bond default settelment that I discovered was owed to the people of Summerhill.

In the future I will keep the city budget balanced, hold staff and the Council accountable for their actions with regard to city finance, keep you informed of developments in the city though e-mails and the papers, and keep taxes paid on bond issues by our citizens to a minimum.

I will recieve a Masters degree in Accounting from Cal State Fullerton in 2009 to help make me more knowledgable as City Treasurer to the people of our city.

I have lived in Lake Elsinore for five years. I am married to my wife Vicky who is a Registered Nurse at Kaiser Hospital. We have two boys who attend Lake Elsinore public schools.

I served five years in the military as an aircaraft maintenance officer and left at the rank of Captain.

I have worked for Ready Pac incorporated as a manufacturing manager for over 12 years, I am directly responsible for over 50 associates and a budget of $1.5 million.

I would appriciate your vote November 4.

Thank you,

Peter Weber Treasurer, City of Lake Elsinore