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Appointed treasurer needed by city

March 13, 2013

On March 1, Brittany Levine wrote an article topped by the headline, “Manoukian hopes to help quash Measure A,” which would make the city treasurer an elected position. He hopes for strategic support to serve in that position. The City Council wants to make the position appointed, thus attracting more qualified applicants.

Many thanks for a valuable service performed by letter writer Jaye Scholl Bohlen of Glendale. The News-Press published Bohlen's letter, titled “Professional treasurer needed,” in the Mailbag on March 6. Our attention was attracted to the need for an appointed treasurer. Bohlen's source was a 2010 National Bureau of Economic Research study conducted by Alexander Whalley of the University of California, Merced. Whalley found appointed treasurers in 203 California cities and found “appointive treasurers reduce a city's cost of borrowing by 13% to 23%.” In today's world, ability and knowledge is the rule for professional positions.

I encourage readers to view the link at www.nber.org/papers/w15643. It is an academic study and is clear why appointed treasurers outperform elected ones. Glendale can pass on 100 years of elected practice, just as horse buggies gave way to steering wheels.

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On April 2, Measure A requests a “yes” vote in favor of an appointed treasurer.

John H. Manus
Glendale

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