Measure J was placed on the ballot by the City Council. This Measure, if approved by the Torrance voters, would amend the City Charter to transition from an elected City Treasurer to an appointed City Treasurer.
California law allows the City Treasurer to be elected or appointed. A number of cities in California, however, have voted to transform the post into an appointive position to ensure that the persons discharging the duties of the office have the professional skills and experience necessary to competently and responsibly discharge the duties of the position. Approximately 66% of California's 483 cities appoint their City Treasurer. Torrance has historically had an elected City Treasurer who serves a four-year term. The current City Treasurer was elected in June 2018 and the term will in end in March 2022 or as soon thereafter as the election can be certified. The current City Charter requires that the City Treasurer must be: (1) a resident of the City, (2) registered to vote in the City, and (3) at least 18 years old. There are no minimum educational requirements, professional qualifications, or minimum City Treasurer experience.
The City Treasurer manages the investment of City funds, prepares the monthly investment report, files the monthly investment report with the City Council, and prepares the annual investment policy.
If this Measure is approved, the City Treasurer will become an appointive position at the end of the current term. The Measure provides that the City Treasurer will be appointed by the City Manager. The City Council may establish minimum educational requirements, professional qualifications, or minimum City Treasurer experience for the City Treasurer. An appointed City Treasurer need not be a City resident.
A YES vote on Measure J is to make the City Treasurer an appointive office upon expiration of the term of the current elected City Treasurer. A NO vote Measure J is to retain an elected City Treasurer. A majority vote is required for the Measure to pass.
