City Treasurer responds to Rudy Cole

[Issue #672]
I am writing to correct misinformation
contained in the first section of Rudy
Coles August 16th column in Beverly Hills
Weekly. Mr. Cole stated:
According to city rules, the Treasurer is
responsible for monitoring and advising on
investment policies. However, Finkel has
created financial advisory committees that
have gone far beyond investments, becom-
ing engaged in budgetary matters that are
the final responsibility of the council.
On the plus side, his efforts have sup-
posedly been welcomed by both the coun-
cil and city financial officers, but this has
created questions on possible usurping of
authority.
Mr. Cole is incorrect in his assertion that
acts of the City Treasurer have created
questions on possible usurpation of authori-
ty. The primary duty of the City Treasurer
is set forth at the City website www.bev-
erlyhills.org: 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 Citys Investment Policy.
As an elected official, the City Treasurer is
technically responsible to the voters of the
City, but the Treasurer performs his or her
duties at the direction of the City Council.
The City Treasurer also typically advises
the City Council and City Manager, or their
equivalents, on matters relating to munici-
pal finance.
In the spring of 2009, City Manager Rod
Wood asked me to create the Citizens
Budget Review Committee. The stated pur-
pose of the committee, which was formed
in the midst of the worst recession since the
1930s, is to critically evaluate the budget
process and provide ideas for creating addi-
tional revenue or spending cuts. Before
forming the committee, I spoke with each
member of the City Council to obtain his
or her consent and to solicit candidates for
the committee. All of the members of the
committee were chosen from the councils
candidate list.
In the spring of 2011, in a discussion
with Mayor Barry Brucker, he asked if I
could help clarify the extent of our Citys
safety (police and fire) employee pension
obligations. He requested that I form the
Pension Task Force, which I did at the
request of the Mayor and with the consent
of the Council. The Pension Task Force
publicly reported its findings to the Council
in August 2011.
Websters Dictionary defines usurp as:
to seize and hold (an office, place, or
powers) in possession by force or without
right. As can be seen from the chronol-
ogy of events set forth above, both the
Citizens Budget Review Committee and
the Pension Task Force were formed at the
express request of the City Manager and
City Council. Mr. Cole owes the members
of the Citizens Budget Review Committee
and the Pension Task Force an apology.
Pro bono volunteer public service at the
request of our elected officials should be
Page 2 Beverly Hills Weekly
WHATS ON YOUR MIND?
You can write us at:
140 South Beverly Drive #201
Beverly Hills, CA 90212
You can fax us at:
310.887.0789
email us at:
editor@bhweekly.com
SNAPSHOT
letters
& email
Correction [Issue #671]
The article Civic Center may soon show off Obelisk incorrectly identified the pro-
posed location for Joan Browns Center Obelisk as the Boat Court at Civic Center. The
commission has recommended displaying the piece in Palm Court, which is located in
Civic Center between the Fire Department and City Hall.
Inside Beverly HillsBHTV10
Inside Beverly Hills, moderated by columnist Rudy Cole, will next air on Aug. 23
at 5 p.m., Aug. 24 at 10 p.m. and Aug. 29 at 3:30 p.m. about the Human Relations
Commission; Aug. 23 at 6 p.m. and Aug. 28 at 3:30 p.m. about Greystone Park; Aug.
27 at 3:30 p.m. about BHEF; Aug. 27 at 9 p.m., Aug. 28 at 6 p.m. and Aug. 29 at 5 p.m.
about the Image of Beverly Hills; and Aug. 29 at 7 p.m. about the Westside Subway
Extension.
r^|ct & |||tN!
tN|vt|^| Jt!|O
8eer|, u|gn :en|or: oee rurge unn ||:u |o:on u tn|er:u| un|o:.
|eI o r|gn. uru <no:nnoon, !ornun {en.|e|, N|u ^nu|o, nuronu Ju|u:u.un
Issue 673 August 23 - August 29, 2012
Beverly Hills Weekly Inc.
Founded: October 7, 1999
Published Thursdays
Delivered in Beverly HilIs, Beverlywood, Los Angeles
ISSN#1528-851X
www.bhweekly.com
Publisher & CEO
Josh E. Gross
Reporter
Melanie Anderson
Sports Editor
Steven Herbert
Contributing Editor
Rudy Cole
Advertising Representatives
Tiffany Majdipour
Saba Ayinehsazian
Nita Anavim
Legal Advertising
Mike Saghian
Eiman Matian
140 South Beverly Drive #201
Beverly Hills, CA 90212
310.887.0788 phone
310.887.0789 fax
CNPA Member
editor@bhweekly.com
All staff can be reached at:
first name @bhweekly.com
Unsolicited materials will not be returned.
2012 Beverly Hills Weekly Inc.
1 year
subscriptions
are available.
Sent via US Mail
$75 payable in
advance
Adjudicated as a
newspaper of gen-
eral circulation for the
County of Los Angeles.
Case # BS065841 of the
Los Angeles Superior
Court, on November 30,
2000.
Weekly
Beverly Hills
letters cont. on page 7