City Treasurer Duties and Responsibilities
The City of Beverly Hills treasurer is elected to a four-year term. The next election for City Treasurer will be in March of 2013.
The primary responsibility of the City Treasurer, as assigned by the City Council in 1959, is to invest surplus funds (the General Portfolio) of the City in accordance with the California Government Code and the City’s Investment Policy.
In accordance with these duties, the treasurer prepares “Monthly Portfolio Statements” and the “Quarterly Portfolio Report” which reviews the results for the quarter and attests that “Adequate liquidity exists within the portfolio to meet all known City requirements through at least the coming six months.”
The treasurer is supported in his duties by the Investment Committee which includes the treasurer, the Chief Financial Officer and Director of Administrative Services, and the Assistant Director of Administrative Services - Finance.
The Investment Committee is responsible for annually reviewing and updating the City’s “Investment Policy” and presenting the updated policy to the City Council for approval.