A City Treasurer With Experience

By Rosemary R. Jones

Rosemary Jones has served four terms as Oceanside's City Treasurer, successfully overseeing the City's $200 million portfolio during the past sixteen years. Your tax dollars are safe and secure with Rosemary Jones.

A LITTLE HISTORY

I am a native Californian, living most of my life in the San Gabriel Valley. I have a family of four, and now enjoy twelve grandchildren and four great-grandchildren. When I lived the San Gabriel Valley, I was active in the Temple City Chamber of Commerce, where I headed a committee to incorporate Temple City. Our successful campaign led to the incorporation of Temple City in 1960.

My husband, a retired Los Angeles Sheriff, and I owned a boat that we docked in the Oceanside Harbor for six years. In 1973 when we decided to retire, Oceanside was our city of choice. We bought a home and settled into retired life. Sadly, three years later in 1976, my husband died of a heart attack.

To overcome my loss, I contacted the local Business and Professional Women's Organization where I had been an active member in Temple City. That move started a long line of community involvement.

TREASURY EXPERIENCE

I was elected Oceanside City Treasurer in 1992. Over the past sixteen years, the City's portfolio has grown from $103 million when I first took office to $225 million and have achieved over $130 million in interest earnings and trading gains. The Treasurer's office also manages $40 million in bond reserves and project funds. All of this is accomplished by prudently and actively investing all available funds. In 1997, we asked the City Council to separate the Treasurer's Office from the Finance Department. The change was approved by Council, and now I hold the status of Department Director and have the responsibility of the department's administration. In 2001, we upgraded our market trading and information system to the state-of-the-art Bloomberg Professional system. Bloomberg is the industry standard for investment brokers and is the best tool available for treasury professionals. We have also taken advantage of the many on-line cash management tools offered through our banks to make our operation more efficient.

The Treasurer's Office is governed by the State of California's government code. Just like all the rest of the cities, counties and special districts in this state, these codes, along with the City's investment policy dictate how, and in what, we are allowed to invest. There isn't room for creative investments. The City's investment policy is reviewed annually by the Treasurer's Investment Oversight Committee and approved annually by the City Council. The policy has been nationally certified by the Association of Public Treasurer's of the United States and Canada.

My 40-plus years experience in the financial field has helped me in my sixteen years as City Treasurer. In 1997, I became a certified municipal treasurer through the California Municipal Treasurer's Association (CMTA). Certification is awarded based on education received at treasury education workshops and overall treasury management experience. On-going education and treasury experience is required for re-certification, which I have received twice during my years of service.

The education and experience obtained as City Treasurer aided in our office uncovering a scam presented to the City in 1999. A "creative" investment opportunity was offered at the cost of $100 million in City securities. As City Treasurer, I was required to sign a Power of Attorney to the firm offering the investment. I refused to sign any documents, and the scam was ended.

Re-elect Rosemary R. Jones as City Treasurer on November 4th. A vote for me will assure you, the taxpayer that the investment of your tax dollars is in safe and experienced hands.