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HomeMy WebLinkAbout1994-11-10 Packet CITY OF UKIAH CITY COUNCIL AGENDA Regular Adjourned Meeting CIVIC CENTER COUNCIL CHAMBERS 300 Seminary Avenue Ukiah, CA 95482 November 10, 1994 2:30 p.m. 1. Roll Call . AUDIENCE COMMENTS ON NON-AGENDA ITEMS The City Council welcomes input from the audience. In order for everyone to be heard, please limit your comments to three (3) minutes per person and not more than ten (10) minutes per subject. The Brown Act regulations do not allow action to be taken on audience comments. 3. UNFINISHED BUSINESS a. Interviews of City Treasurer Applicants 2:30 p.m. - Patrick Coyne 3:00 p.m. - S. Allan Johnson 3:30 p.m. - Leroy Lowery 4:00 p.m. - Raymond Worster 4. ADJOURNMENT The City of Ukiah complies with ADA requirements and will attempt to reasonably accommodate individuals with disabilities upon request. City Of Ukiah 10-11-9.! CITY OF UKIAH APPLICATION FOR CITY TREASURER SEPTEMBER 1994 I am applying for appointment as the City Treasurer of the City of Ukiah. NAME: Patrick Coyne RESIDENCE ADDRESS: RESIDENCE PHONE: BUSINESS ADDRESS: EMPLOYER: 477 Luce Avenue, Ukiah, CA 95482 707-468-5523 BUSINESS PHONE: 707-462-9053 514 South School Street, Suite 105, Ukiah, CA 95482 COYNE ASSOCIATES POSITION/JOB TITLE: Owner/Financial Planner & Asset Manager EMPLOYED SINCE: 1982 RESIDED IN THE CITY OF UKIAH SINCE: 1982 RESIDED IN MENDOCINO COUNTY SINCE: 1981 Please list: 1) any community organizations or groups you have belonged to or are currently affiliated with, and any offices held; 2) any elected or appointed positions you have held; and 3) specific experience as a City Treasurer. Current Director of the Institute of Certified FinanciaI Planners (ICFP)--S.F. Society Current board member for the Uidah Senior Center Endowment Advisory Board UKIAH CITY PLANNING COMMISSIONER Commissioner-June 1986 to June 1989 l/ature When submitting this application, please attach a complete resume covering your education, career, and community experience. Also please answer the following questions as completely as possible on separate sheets of paper, and attach to this application. ~ 10-12-94 Date COYNE ASSOCIATES Patrick Coyne, M.B.A., CFP sUMMARY.PROFILE PATmCK cOyNE, M.B.A,' C q, Current Director of the Institute of Certified Financial Planners (ICFP)--S.F. Society Current board member for the Uldah Senior Center Endowment Ath'isory Board Master of Business Administration Degree--Finance Management 198 l--Pepperdine University Bachelor of Science--Finance & Real Estate 1977--California State University, Long Beach Certified Financial Planner (CFP) 1983--College For Financial Planning Registered Investment Advisor (RIA) 1984--Security Exhchange Commission Licensed Real Estate Broker (CA) 1978--Department of Real Estate Certificated Cost Engineer 1978--Fluor Engineering Licensed General Contractor (#sssoss) 1989--Contractors Board Licensed Private Pilot (Instrument Rated) 1978--FAA COYNE ASSOCIATES Finance, blana~ement & Real Estate Consultant--October 1982 to present UKIAH CITY PLANNING COMMISSIONER Commissioner--June 1986 to June 1989 FLUOR ENGINEERING AND CONSTRUCTION CORPORATION Construction Cost & Scheduling Engineer--June 1980 to May 1982 McDONNELL DOUGLAS CORPORATION Industrial Engineer--October 1979 to May 1980 City Of Ukiah 10-11-94 CITY OF UKIAH APPOINTMENT OF CITY TREASURER APPLICATION QUESTIONNAIRE SEPTEMBER 7, 1994 1. Why did you apply to serve the City of Ukiah itt the capacity of City Treasurer? Answer: As a financial analyst and investment advisor of 12 years, I felt confident that I could make a meaningful contribution towards achieving the City ofUkiah's "cash asset portfolio" objectives of safety, liquidity and yield. 2. What experience do you have that qualifies you to carry out the duties and responsibilities of City Treasure ? Answer: In addition to being formally educated in finance (M.B.A. & B.S. in Finance), I have been managing investment portfolio's for over 12 years. Furthermore, I am a Certified Financial Planner (CFP) and a Registered Investment Advisor (RIA) with the Security Exchange Commission (SEC) and with the Department of Corporations in California. I employ Modern Portfolio Theory (MPT) techniques along with Capital Asset Valuation models in my practice. This includes comprehensive asset allocation modeling that involves the identification, risk & return analysis and acquisition of all types of investment assets. Because I am a Fee Only financial advisor, I have no affiliation or association with any financial institutions whatsoever. This eliminates any possible conflict of interest while managing portfolios. I will bring this same objectivity to the office of City Treasurer. Specifically, I have analyzed, evaluated and/or acquired the following single issue or mutual fund investments for various portfolios: · U.S. Government Treasuries (certificates, notes and bonds) · Corporate Bonds · Stocks · FNMA, FHLMC, GNMA mortgage backed securities · CMO's (collateral mortgage obligations) · Investment Derivatives · Third Party Investment Managers · Real Estate (commercial & investment) · Mutual Funds (stock, bond & REIT's) · Limited Partnerships · Private Offering Memorandums Core to successful asset management is the ability to accurately assess the level of risk for a given rate-of-return. There are many types of rate-of-returns. Most of us are COYNE ASSOCIATES Page 1 of 4 Patrick Coyne, M.B.A., CFP City Of Ukiah 10-11-94 familiar with the stated rate-of-return or coupon rate. However, the more meaningful rate-of-return for analytical purposes is the true current yield and/or yield to maturity rates, as it relates to debt instruments. In fact, asset management is about management risk. I have the technical and market skills to correctly asses risk and to effectively mitigate a great deal of it through the application of Modern Portfolio Theory and the use of Capital Asset Valuation models. Finally, I have the industry contacts that will allow for the lowest acquisition costs possible of future asset appropriations. 3. What is your understanding of the duties and responsibilities of the City Treasurer ? Answer: The primary responsibility is for the management of the "cash asset portfolio" in accordance with the investment policy statement prepared by the City Council. Further, to meet with the appropriate department heads and to report regularly as to the status and performance of the portfolio. Also, when appropriate, make suggestions regarding policy, practice and procedures with regard to the portfolio. 4. What type of working relationship wouM you seek to establish with the City Council? City Manager? Finance Director? City Staff/. Answer: Inasmuch as the finance and investment industry is complex and the investment vehicles and techniques are perplexing, I have found with my clients--whether institutions or individuals--the best approach is a cooperative approach with direct emphasis on education and information. I also use a large dose of diplomacy and discreteness when dealing with money issues. This would be the same approach I would take as City Treasurer. 5. Do you currently conduct any business with the City as a vendor, supplier, or independent contractor? Answer: NO. 6. Please be specific in describingyour experience in the management ora multifaceted investment portfolio. Answer: Please See Answer 2. How extensive is your experience relating to municipal investing? Are you familiar with the State requirements associated with local government inveslments? Describe any previous experience with municipal governmenl finances. COYNE ASSOCIATES Page 2 of 4 Patrick Coyne, M.B.A., CFP City Of Ukiah 1 O- 11-94 Answer: I have considerable experience in the evaluation and acquisition of municipal debt issues. I am not familiar with the State requirements associated with local government investments and I have never been involved in the issuing side of municipal debt instruments. 8. What is your opinion of the City's current investment portfolio, practices, policies, and pbilosophy: WouM you change them and, if so, describe what these modifications wouM be ? Answer: Without the benefit of conducting a detailed analysis of the existing portfolio, my thoughts and opinions are of the most general in nature and are not meant to be a critic of the existing portfolio or the efforts made by the current City Treasurer. A detailed analysis would take up to 40 man-hours of time. Having said this, as City Treasurer, I would look at the following items as they relate to the portfolio: I would look at the CMO investments and evaluate their true impact on liquidity and their possible impact on the safety of the underlying principal. CMO's are a very complex mortgage derivative, that has proven to be very difficult to value. Consequently, there has been considerable price volatility for this type of investment in recent history. If there were a need to liquidate these types of investments prior to maturity, a real possibility of principal loss could exist. I would take a look at the government backed mortgage obligations (GNMA, FNMA & FHLMC) for current and expected yields. The real yields tend to vary because of the unpredictable nature of the underlying mortgages and because of what is happening in the interest rate market. Given the uncertainty surrounding current and near future interest rates, I would probably strive to reduce, somewhat, the average maturity holding period for the debt and mortgaged backed instruments. This would tend to lower the risk exposure of principal loss. In terms of overall risk, It's my opinion that the existing portfolio is at the higher end of the risk scale for a cash asset portfolio. This is neither good nor bad. If needed income dictates this level of risk, then the portfolio risk level is appropriate. ~ . WouM you describe your investment strategy as aggressive or conservative ? Answer: Conservative. The first step I take when evaluating an existing investment portfolio is to find ways to reduce risk within the portfolio. Then I strive to maximize the rate-of-return on the portfolio given the lowest level of risk obtainable. The primary goal COYNE ASSOCIATES Page 3 of 4 Patrick Coyne, M.B.A., CI~P Ci_ty Of Ukiah 10-11-94 of any qualified asset manager is to bring the portfolio into balance with regard to risk and return. 10. Will you seek election to this office when its current term expires itt two years? Answer: I do not believe so. I see this interim period as an opportunity to share with the City my skills, experience and knowledge as it relates to the finance and investment industry. I believe I can make a real contribution to the office of City Treasurer, contributions I believe that will carryover beyond the two year interim period. 11. Why shouM the City Council appoint you to this position? Answer: It's an opportunity to introduce into the City Treasurer' s office some advanced asset management techniques, methodologies and strategies that may not exist at the present. COYNE ASSOCIATES Page 4 of 4 Patrick Coyne, M.B.A., CI~'I' 300 UKIAH, CA 95482-5400 · ~)MIN. 707/463-62.00 · PUBLIC SAi:ETY 463-6242/6274 · FAX # 707/463-6204 September 12, 1994 In taking out an application for appointment as City Treasurer for the City of Ukiah, I have received a copy of the City's Mission Statement, Fiscal Year 1994-95 Budget, Organizational Chart, City Investment Policy, and City Investment Portfolio. rr~h:adrnin TREASURER ACCEPTANCE STATEMENT '~V'e Are Here To Serve" 300 UKIAH, CA 95482-5400 · ,N~MIN. 707/463-6200 · PUBLIC SAFETY 463-6242/6274 · · F.'~X # 707/463-6204 · September 12, 1994 I understand that the City Council interviews of the City Treasurer applicants shall be conducted in open, public session, and that the interviews shall proceed in alphabetical order. Also, I voluntarily agree to wait in a room separate from the public interview session when other candidates are being individually interviewed by the City Council. In this way no single candidate will have a distinct advantage over another. mfh:admin TREASURER PERMISSION STATEMENT Are Here To Serve" CITY OF UKIAH APPLICATION FOR CITY TREASURER SEPTEMBER 1994 I am applying for appointment as the City Treasurer of the City of Ukiah. NAME- S. A1 lan Johnson RESIDENCE ADDRESS: RESIDENCE PHONF' BUSINESS ADDRESS:, EMPLOYER:' POSITION/JOB TITLE:. 468-9605 BUSINESS PHONE,' EMPLOYED SINCE: Retired RESIDED IN THE CITY OF UKIAH SINCE:.. 1988 RESIDED IN MENDOCINO COUNTY SINCE: l C~ Please list: 1) any community organizations or groups you have belonged to or are currently affiliated with, and any offices held; 2) any elected or appointed positions you have held; and 3) specific experience as a City Treasurer. Past President, Vice-President and Secretary of the Ukiah Men's Golf Club. Served on the Ukiah Airport Commission. Served as a member of the Ukiah Community Forest Committee. · Served as a member of the ukian Long Range Golf Course Committee. Currently Chairman of the Ukiah Parks and Recreation Commission. I have never served as a City Treasurer. I did served as Treasurer UI bllC: bib.ay UI UI~ I C[II L II I~/ I L./,.y C;C: 3 bi C;UI b UII lull I UI I I C (.,[ I Ijf Lf.-. jf ~,. LA i Oe When submitting this application, please attach a complete resume covering your education, career, and community experience. Aisc please answer the following questions as completely as possible on separate sheets of paper, and attach to this application. ~ignature mfh:admin TREASURER APPLICATION Date RESUME S. Allan Johnson 280-Q San Jacinta Dr. Ukiah, California 95482 (707) 468-9605 GOALS: EDUCATION: EMPLOYMENT: EXPERIENCE: OTHER: HEALTH: ACTIVITIES: HOBBIES: Meaningful Part-time Employment. High School. Heald Business College. Many individual classes over the years mainly business oriented. Wells Fargo Bank, San Francisco, 7 years. UARCO Incorporated Business Forms, 20 years. Masonite Employees Credit Union, 2 years. City of Ukiah Employee's Credit Union, 22 years. Smith Air Service, Ace Air Service, Gordon Air Service, l0 years. Self Employed Grape Grower, 22 years. Clerk. Accountant. Salesman. Sales Service Manager. Sales Promotion Manager. District Sales Manager. Credit Union Manager/Treasurer. Charter Pilot. Grape Grower. Some experience on word processor. Good. Ukiah Men's Golf Club (Secretary, Vice- president, President). Currently Chairman Ukiah Parks and Recreation Commission. Currently Vice-Chairman Ukiah Golf Committee. Member Ukiah Community Forest Committee. Member Ukiah Long Range Golf Course Committee. Past member Ukiah Airport Commission. Golf, flying, reading. CITY OF UKIAH APPOINTMENT OF CITY TREASURER APPLICATION QUESTIONNAIRE SEPTEMBER 7, 1994 . t . . . . 7, . 1 10. 11. Why did you apply to serve the City of Ukiah in the capacity of City Treasurer? What experience do you have that qualifies you to carry out the duties and responsibilities of City.Treasurer? What is your understanding of the duties and responsibilities of the City Treasurer? What type of working relationship would you seek to establish with the City Council? City Manager? Finance Director? City Staff? Do you currently conduct any business with the City as a vendor, supplier, or independent contractor? Please be specific in describing your experience in the management of a multifaceted investment portfolio. How extensive is your experience relating to municipal investing? Are you familiar with the State requirements associated with local government investments? Describe any previous experience with municipal government finances. What is your opinion of the City's current investment portfolio, practices, policies, and philosophy? Would you change them and, if so, describe what these modifications would be? Would you describe your investment strategy as aggressive or conservative? Will you seek election to this office when its current term expires in two years? Why should the City Council appoint you to this position? mfh:adrnin TREASURER QUESTIONNAIRE 1. I thought it would be interesting and challenging. Though retired I have a need to be mentally active and a meaningful part-time position such as this seems to be ideally suited to my purposes. 2. I have done many things during my working life, mostly business oriented, that I think gives me a fairly broad background to draw from. In addition, the twenty some odd years I served as Treasurer of the City of Ukiah Employees' Credit Union, though not as complex as the City's, gives me enough familiarity to understand the City's program. 3. The current Treasurer, Mr. Ranochak, graciously gave of his time to review with me the various duties and responsibilities of the City Treasurer. While we could not cover every detail in full I feel that he has given me a clear enough picture of what to anticipate. 4. Basically my approach would be goal-oriented. However, to achieve that I would seek cooperation from the Council, City management or Staff members that would assist me in achieving the goals of the City Treasurer. In turn I would offer any cooperation or assistance I could in the interest of main- taining a harmonious relationship with all parties. I would like to think my years of service on various City commissions and committees would bear this out. 5. No. 6. I have not managed a similar investment portfolio but during my years as &. treasurer for the City Employees' Credit Union I was responsible for main- 7. taining daily liquidity and investing surplus funds. Though more limited as to investment opportunities than the City, nevertheless the principle is the same. This is true for the City also in that the combination of City policy and Government Code place certain restrictions on the investment of surplus funds. Other than that I have no other experience with municipal government finances. I have obtained a copy of the Government Code with which to familiarize myself, and again, I believe my background gives me the basis and confidence to continue with the current investment program. 8. From what I see and from what I have been able to learn it appears to me that Mr. Ranochak has been running an excellent program. I would certainly want to continue his program until such time as it would appear a change or modification would be r~quired. 9. I would have to say conservative. I think I would be called conservative in in most things I do. 10. Yes. ll. I am an experienced, mature person. I do not take my responsibilities lightly, I am reliable. The position as City Treasurer would be my only committment. I would want to do my very best. I believe I can make a worthwhile contribution to the welfare of our wonderful City. I have the interest and the time. Thank You. Allan Johnson 300 E ~VE., UKIAH, CA 95482-5400 · ADMIN. 707/463-6200 · PUBLIC SAF~ 463-6242/6274 · FAX # 707/463-6204 · September 12, 1994 In taking out an application for appointment as City Treasurer for the City of Ukiah, I have received a copy of the City's Mission Statement, Fiscal Year 1994-95 Budget, Organizational Chart, City Investment Policy, and City Investment Portfolio. mfh:adrrin TREASURER ACCEPTANCE STATEMENT '~Ve Are Here To Serve" 300 S~ ~iiVE., UKIAH, CA 95482-5400 · ADMIN. 70~/463-6200 · PUBLIC SAI:ETY 463-6242/6274 · FAX # 701/46~-6204 · September 12, 1994 I understand that the City Council interviews of the City Treasurer applicants shall be conducted in open, public session, and that the interviews shall proceed in alphabetical order. Aisc, I voluntarily agree to wait in a room separate from the public interview session when other candidates are being individually interviewed by the City Council. In this way no single candidate will have a distinct advantage over another. NAME DATE mfh:admln TREASURER PERMISSION STATEMENT -tq- "We Are Here To Serve" CITY OF UKIAH APPLICATION FOR CITY TREASURER SEPTEMBER 1994 I am applying for appointment as the City Treasurer of the City of Ukiah. NAME- RAYMOND G. WORSTER RESIDENCE ADDRESS: 115 s. RESIDENCE PHONE: 462-0]_92 BUSINESS ADDRESS: EMPLOYER: SELF SPRING STREET, UKIAH BUSINESS PHONE:468-0283 POSITION/JOB TITLE:, EMPLOYED SINCE: TAX PREPARATION 1974 RESIDED IN THE CITY OF UKIAH SINCE: 1972 RESIDED IN MENDOCINO COUNTY SINCE: 196~ Please list: 1) any community organizations or groups you have belonged to or are currently affiliated with, and any offices held; 2) any elected or appointed positions you have held; and 3) specific experience as a City Treasurer. SOUTH UKIAH ROTARY CLUB-CHARTER MEMBER, PRES, TREAS, BD OF DIR UKIAH VALLEY ASSOC HANDICAPPED-- BOARD MEMBER TRINITY SCHOOL ADVISORY COMMITTEE~PRES, BOARD MEMBER UKIAH SYMPHONY-BOARD MEMBERiTREAS. CITY OF UKIAH REDEVELOPMENT AGENCY--ADVISORY BOARD MEMBER UKIAH UNIFIED SCHOOL DISTRICT'PRES, BOARD MEMBER MENDOCINO COUNTY RETIREMENT BOARDr MEMBER, INVESTMENT COMMITTEE MEMBER When submitting this application, please attach a complete resume covering your education, career, and community experience. Also please answer the following questions as completely as possible on separate sheets of paper, and attach to this Sign~tufe Date ' mfh:admln TREASURER APPLICATION CITY OF UKIAH APPOINTMENT OF CITY TREASURER APPLICATION QUESTIONNAIRE SEPTEMBER 7, 1994 . . . , . . . o o 10. 11. Why did you apply to serve the City of Ukiah in the capacity of City Treasurer? I CONSIDER IT A CHALLENGE & AN OPPORTUNITY TO SERVE. What experience do you have that qualifies you to carry out the duties and responsibilities of City Treasurer? six YEARS COUNTY RETIREMENT BOARD What is your understanding of the duties and responsibilities of the City Treasurer? TO BE RESPONSIBLE FOR THE INVESTMENTS OF THE CITY OF UKIAH & THE UKIAH What type of working relationship would you seek to establish with the City Council? City Manager? Finance Director? City Staff? AS CLOSE AS POSSIBT.E. I DON'T T. IKE TO BEAT AROUND THE BUSH, EVERYONE SHOULD BE KEPT INFORMED. Do you currently conduct any business with the City as a vendor,' supplier, or independent contractor? NO Please be specific in describing your experience in the management of a multifaceted investment portfoliO.SERVED ON INVESTMENT COMMITTEE COUNTY RETIREMENT BOARD WHICH c~:> REWROTE INVESTMENT POLICY FOR THE BOARD. r~ How extensive is your experience relating to municipal investing? Are you familiar with the State L~ requirements associated with local government investments? Describe any previous experience with municipal government finances. NONE IN MUNICIPAL INVESTING. STATE REQUIRE- MENTS AS THEY APPLY TO SCHOOL DISTRICTS AND COUNTIES -- What is your opinion of the City's current investment portfolio, practices, policies, and philosophy? Would you change them and, if so, describe what these modifications would be? CURRENT PORTFOLIO LOOKS VERY GOOD I SEE NO REASON TO ARGUE WITH SUCCESS you f~L~6rFlbe ~8~rG~Sve~,{"'rfn~h~Wst~$~] ~: aCg~..~- or conservative? AGGRESSIVE IN SENSE THAT FUNDS SHOULD ALWAYS BE WORKING. CONSERVATIVE IN ,$~NSE THA,T 0 IC E AND LAW US B A R D TO W,l/yOU seeK e~ecZt'ionZto~h,s office wt~e~n i~s c~rrenDtHt~r~ exp,r~s in two years? ASSUMING THIS IS A WORKING RELATIONSHIP, YES Why should the City Council appoint you to this position? CITY COUNCIL SHOULD APPOINT THE BEST APPLICANT. IF THAT IS ME FINE, IF SOMEONE ELSE IS BETTER QUALIFIED SO BE IT. rnfh'admin ?REASURER OUES TtONi'~AIRE RESUME: RAYMOND G. WORSTER BORN: ST. JOHNSBURY, VT-RAISED FOXBORO MASS GRADUATE: DEERFIELD ACADEMY, DEERFIELD MASS. GRADUATE: OBERLIN COLLEGE, OBERLIN, OHIO B/A DEGREE ARMY SERVICE: 3YEARS U.S. ARMY, 1½YEARS FAIRBANKS, ALASKA EMPLOYED: CALIF PACKING CORP (DEL MONTE) 6 YEARS AS CANNING FOREMAN · ~ EMPLOYED: INTERNAL REVENUE SERVICE-10YEARS AS REVENUE OFFICER SELF-EMPLOYED: REAL ESTATE SALES 4 YEARS SELF-EMPLOYED: TAX PREPARER 8 YEARS EMPLOYED: WORSTER/THOMPSON, INC PRES. 8 YEARS CURRENTLY SELF EMPLOYED AS TAX PREPARER, TAX ACCOUNTANT AND TAX CONSULTANT COMMUNITY EXPERIENCE STARTED IN CHICO WHEN CHILDREN STARTED SCHOOL. JOINED PTA AND WAS TREASURER OF LOCAL SCHOOL PTA. CAME TO UKIAH BECAME INTERESTED IN EDUCATION AT SCHOOL BOARD LEVEL, SERVED ON UKIAH. UNIFIED SCHOOL BOARD FOR NINE YEARS. WAS HEAVILY INVOLVED IN 9 BOND ISSUES AND THE FINANCING SURROUNDING THE CONSTRUCTION OF UKIAH HIGH SCHOOL. INITIATED THE SHARING OF INTEREST INCOME WITH COUNTY AND SCHOOL DISTRICT BEFORE IT BECAME STATE LAW. AS PART OF EMPLOYMENT WITH IRS, INITIATED VTA (VOLUNTEER INCOME TAX ASSISTANCE) PROGRAM WHICH IS STILL CARRIED ON TODAY. ALSO AT THIS TIME SERVED AS JUNIOR WARDEN HOLY TRINITY EPISCOPAL CHURCH. AFTER SERVING ON SCHOOL BOARD, DECLINED TO RUN FOR A FIFTH TERM. SERVED ON BOARD OF DIRECTORS OF UVAH. UVAH AT THE TIME WAS GOING THROUGH A RESTRUCTERING AND PARTICIPATED IN THAT FOR FOUR YEARS. WAS APPOINTED TO COUNTY RETIREMENT BOARD, SERVED 6 YEARS AND WAS INVOLVED IN UPDATING THEIR INVESTMENT POLICIES WHICH RESULTED IN SIGNIFICANT GAINS IN VALUE OF THEIR FUND. IN ADDITION TO THE ABOVE I HAVE SERVED ON UKIAH SYMPHONY BOARD, TRINITY SCHOOL ADVISORY BOARD AND AN ADVISORY BOARD TO THE UKIAH DEVELOPMENT AGENCY. 300 SE~ · ,,a~DMIN. 707/463-6200 · FAX # 707/463,-6204 ~VE., UKIAH, CA 95482-5400 · PUBLIC SAFETY 463-6242/6274 · September 12, 1994 In taking out an application for appointment as City Treasurer for the City of Ukiah, I have received a copy of the City's Mission Statement, Fiscal Year 1994-95 Budget, Organizational Chart, City Investment Policy, and City Investment Portfolio. SIGNED: DATE mlh:admin TREASURER ACCEPTANCE STATEMENT 'We Are Here To Serve" 300 SE UKIAH, CA 95482-5400 · /~DMIN. 707/463-6200 · PUBUC SAFE'fY 463-6242/6274 · FAX it 707/463-6204 · September 12, 1994 I understand that the City Council interviews of the City Treasurer applicants shall be conducted in open, public session, and that the interviews shall proceed in alphabetical order. Also, I voluntarily agree to wait in a room separate from the public interview session when other candidates are being individually interviewed by the City Council. In this way no single candidate will have a distinct advantage over another. NAME DATE rnfh:adrnin TREASURER PERMISSION STATEMENT -bO - '~[/e Are Here To Serve" 945 Fairway Ukiah, CA 95482 (707) 468-5963 October 7, 1994 The Honorable Mayor Schneiter: Honorable Councilmen Malone, Mastin, Shoemaker, Wattenburger City of Ukiah 300 Seminary Avenue Ukiah CA 95482 Gentlemen: I am pleased to submit my request for consideration for appointment to the position of City Treasurer. I have enclosed, herewith, my application in response to your letter of direction, including my answers to your questions an~ my professional resume. I thank you for this opportunity and look forward to my interview with you. Sincerely, Leroy R. Lowery LRL/dh CITY OF UKIAH APPLICATION FOR CITY TREASURER SEPTEMBER 1994 I am applying for appointment as the City Treasurer of the City of Ukiah. NAME:. Leroy R. Lowery RESIDENCE ADDRESS: 945 Fairway Avenue, Ukiah CA 95482 RESIDENCE PHONE: (707) 468-5963 BUSINESS PHONE' Same BUSINESS ADDRESS:. Same EMPLOYER: *Lowery Associates POSITION/JOB TITLE: Consultant EMPLOYED SINCE: 1952 RESIDED IN THE CITY OF UKIAH SINCE: 198o RESIDED IN MENDOCINO COUNTY SINCF- 19Rn Please list: 1) any community organizations or groups you have belonged to or are currently affiliated with, and any offices held; 2) any elected or appointed positions you have held; and 3) specific experience as a City Treasurer. 1. Rotary Club of Ukiah, Director/Member; Msndocino College Athletic Booster Club,member, Ukiah Mem's Golf Club member 2. Growth Management Steering Committee, chairman/member; William a Chessall Scholar§hip Fund, Trustee; Mendocino County Community Foundation, Vice Pres- ident; Mendocino College Foundation, Secretary; Mendocino County Democratic Central Committee, member; Ukiah Valley-wide Task Force, chairman;, California Conservation Corps, Ukiah Advisory Board, member; Mendocino County 0.E.D.P., member. When submitting this application, .please attach a complete resume covei'ing your education, career, and community experience. Aisc please answer the following questions as completely as possible on separate sheets of paper, and attach to this application. SignatUre Date rr~h:admin TREASURER APPLICATION Retired, President Emeritus, Mendocino College [~ , , . CITY OF UKIAH APPOINTMENT OF CITY TREASURER APPLICATION QUESTIONNAIRE OCTOBER 6, 1994 Why did you apply to serve the City of Ukiah in the capacity of City Treasurer? I believe that service as City Treasurer would be mutually beneficial to the City of Ukiah and to myself. I feel that I have the basic abilities to successfully discharge the responsibilities of this position, the capabilities of acquiring and/or extending necessary technical skills, and the demeanor to be a cooperative staff member. For me, personally, the position would be very interesting and challenging, and is of a scope which nicely fits with my personal and professional commitments. In short, I believe my service would be a "win-win" relationship for the City and for me. What experience do you have that qualifies you to carry out the duties and responsibilities of City Treasurer? My professional career covers over 38 years of full-time and four years of consulting experience. Included in those years, I served for over 25 years as chief finance or chief executive officer of public agencies or in a major staff role at the state level dealing with fiscal matters. While I do not claim direct city treasurer or extensive public investment experience, I believe that I have adequate professional and personal experience and knowledge to successfully perform the duties of this position. I have extended experience in working in the public sector. I understand working with and for a publicly elected board, with merit type system fellow staff, and the special relationship, including appropriate responsibilities and restraints, that are inherent in a position of public trust. What is your understanding of the duties and responsibilities of the City Treasurer? It is my understanding that the duties and responsibilities of the City Treasurer consist of two primary functions: a.) functioning as the City's investment officer, in conjunction with the City Director of Finance; b.) a monitoring function for major City income and expenditure activities. The Investment Policy of the City shall govern all actions taken as the investment officer. Also, close consultation with the Director of Finance, the City Manager, and other appropriate persons would be sought. . . , . The monitoring function includes such activities as reconciliation of bank statements, assuring receipt of income as budgeted, and projecting planned and unanticipated expenditures. Performance of actions as are important to sound fiscal management and of assuring liquidity as may be required to meet financial obligations, shall be done. Achievement of such goals requires a close, cooperative working relationship with the Finance Department, City Manager, and other City personnel. What type of working relationship' would you seek to establish with the City Council? City Manager? Finance Director? City Staff? Although technically the Treasurer's is "... an officially elected city position ..." and by your organization chart, responsible only to the "citizens of Ukiah," I would seek to establish a relationship more of one of staff to the City Council, and a close working relationship with other City staff members. The City Council establishes policy and staff implements such policy. Therefore, as Treasurer, I would discharge my responsibilities consistent with the provisions of the City of Ukiah Investment Policy as established by the City Council. As Treasurer, I would work with the Finance Director and members of the City staff in a manner stressing cooperation, coordination, and open communication for our mutual benefit and that of the citizens. Do you currently conduct any business with the City as a vendor, supplier, or independent contractor? NO, I am serving in a voluntary role as Chairman of the G.M.S.C. I hold a small position in a Ukiah Electrical Bond through PaineWebber. Please be specific in describing your experience in the management of a multifaceted investment portfolio. As a private citizen, I have managed the investments of our family and, of several trusts, for approximately 25 years. These investments have and do include many of the same type of investments as permitted for the City plus others not so permitted. I believe I have been successful in these investment efforts. I have in the past and currently serve in a fiduciary capacity as an officer and/or member of several public type trusts and businesses. For my professional experience, please see #7 below. How extensive is your experience relating to municipal investing? Are you familiar with the State requirements associated with local government investments? Describe any previous experience with municipal government finances. 2 , 10. 11. During my 20+ years of Community College administrative experience, my Districts were covered by and I am familiar with fundamentally the same law relative to financial investments as that which covers the City of Ukiah, i.e. Government Code, Chapter 4, Article 1, Section 53600 et. seq. Basically, the investments for which I was responsible were primarily with either the Local Agency Investment Fund or with a County Treasury. I have always completed a position with the school/college district(s) in significantly better fiscal position that when. I began, both in terms of capital improvements achieved and operational reserves increased. What is your opinion of the City's current investment portfolio, practices, policies, and philosophy? Would you change them and, if so, describe what these modification would be? In my opinion, the City's current investment practices, policies, and philosophy are sound, in compliance with the law, and fully appropriate for the fiscal well-being of the City and its citizens. Further, as I understand the current investment portfolio, it is in compliance with the City's Investment Policy, consists of sound securities, and is very successful. Based upon my current knowledge of the City's investment program, I have no suggestions for change. I am, though, curious as to why Certificates of Deposit are restricted to a one year maturity while all other investments are permitted three to five years unless restricted by statute to fewer years. Will you seek election to this office when its current term expires in two years? Yes, I would plan to seek reelection. Why should the City Council appoint you to this position? It is my view that if, at this time, the members of the City Council find that I am the best qualified applicant for the position, they should appoint me City Treasurer. As described above, I believe that I have the necessary abilities, experiences, opportunities, and desire to, in an efficient and effective manner, successfully discharge the duties and responsibilities of the position of City Treasurer. In doing so, I would be continuing to provide the citizens of Ukiah the high level of service that they have received in the past, are currently receiving, and which they rightfully deserve to receive in the future. LRL/dh 3 RESUME LEROY R. LOWERY 945 Fairway Avenue Ukiah, CA 95482 (?07) 468-5963 PERSONAL DATA: __ Born 1930, Homestead, Pennsylvania Married 19:11, Ione Field Children: Sharon lone - (Mrs. Wm. Dacanay) Kerry Lee- (Mrs. James Thompson) Grandchildren: four (4) EDUCATIONAL BACKGROUND- 1966 1960 1952 1950 Doctor of Education Degree Master of Arts Degree Bachelor of Arts Degree Associate in Arts Degree U.C. Berkeley Sacramento State College Sacramento State College Santa Monica City College Calif,,mia Life General Administrative Credential California Life General Secondary Teaching Credential Califomb Life General Elementary Teaching Credential PROFESSIONAL EXPERIENCE; CONSULTANT, Lowery Associates (1990-Present) Provide consulting services to educational institutions on a broad range of professional activities. Specializes in Fiscal and Business operations; facility design and construction; furniture and equipment purchase. Special experience in California legislative and staff relations. Associated with f'mns providing the full range of services for educational programs and activities. SUPERINTENDENT/PRESIDENT, Mendocino Community College District (1980- 1990) - Serve as the Chief Executive Officer with full responsibility for the organization and administration of the College and the District. Responsibilities include: direction of the instn~ctional, business and operations, collective bargaining, student activities and community relations of the District. Serve as Secretary to the Governing Board. Responsible for the development and recommendation to the Governing Board of formal policies pertaining to the operation of the District. Develop adnfinistrative regulations implementing said Policies, as necessary, for the efficient and effective operation of the District. Responsible for the coordination of the College pro,ams, including instruction, formation of curricula, evaluation of all personnel and in-service training for all personnel, counse!ing program, student government and student activities. Direct and coordinate all activities dealing with relationships with other college-universities, high school districts, and all segments of the general community. Page Two Leroy R. Lowery - Resume PROFESSIONAL EXPERIENCE: (cont.) ASSISTANT S[JPERINTENDENT- FINANCE, West Valley Joint Community College District (1970-1980) Provided management for the District relative to all aspects of the f'mancial activities and programs. Responsibilities included, but were not limited to analysis and presentation of the District annual budget and implementation thereof. Se'ved as fiscal representative to governmental agencies, community groups, and private institutions. Directed the District Police force, Facilities Planning and Construction, Facility Services, and Administrative Services. Supervised the Director of Classified Personnel for the District and was Affirmative Action Officer for classified personnel. Primary responsibility for all employee-employer relations and collective bargaining activities of the District. CHIEF CONSI, JLTANT, CALIFORNIA STATE SENATE COMMI2TEE ON EDUCATION (1967-70) Provided general "expertise" for members of the State Senate relative to all levels and aspects of public and private education. Responsibilities included, but were not limited to development and writing of legislation, preparation of analysis of all measures considered by the Senate Committee on Education directing the conduct of rcscarch studies for the Senate, answering written and verbal questions of Senators and staff personnel, drafting correspondence, speeches, and position papers (especially of a technical nature). Served in an executive secretary role for the Committee dealing with all levels of legislature and executive personnel, school district trustees, administrators, and teachers, professional organizations, and general public groups and individuals. PART-TIME COMMUNITY COLLEGE INSTRUCTOR (1969, in addition to State Senate Position) Political Science Instructor PUBLIC SCHOOL ADMINISTRATOR, Rio Linda Union School District (1956-1967) A. Assistant Superintendent. Business and Fin. onc~ for a school district of approximately 10,000 ADA; responsible for all district activities including, but not limited to: (1) Budget preparation and Administration, (2) Accounting, (3) Purchasing, (4) Capital Building Program, (5) Maintenance and Operations, (6) Transportation, (7) Cafeteria, (8) Preparation of all federal, state and county reports, (9) Supervision of all classified employees, numbering approximately 120. B. Elernentary School Principal - School enrollments ranged from 400 to 800 ADA; performed duties relative to supervision, evaluation, and coordination of all building personnel; responsible for the educational program of the school; developed community relations activities with parent organizations. C. Director. Summer School and Summer Recreation Programs - Responsible for hiring personnel, planning programs, budgeting, purchasing, and general supervision of program operations, generally five (5) weeks duration for 1000 to 3000 students. ~TEA CHER, Elementary School Classroom Instruction, (1952-1956) MEMBERSHIPS Page Three Leroy R. Lowery Resume Association of California Community College Administrators Association of Chief Business Officials, California Communit3, Colleges California Teachers Association National Education Association (Life Member) California Elementary School Administrators Association California Congress of Parents and Teachers Ca!.!~fomia Association of School Business Officials Phi Delta Kappa The Commonwealth Club of California Past Trustee, Santa Clara County Council Camp Fire, Inc. Past Director, Ukiah Rotary Club Past Director, North Highlands Rotary Club Past Trustee, William A. Chessall Scholarship Board of Directors, Mendocino Area, California Conservation Corps Chairman, Ukiah Valley Development Task Force Participant in community organizations and activities (American Field Services, United Crusade; Mendocino County Overall Economic Development Program) Ukiah Golf Club .MISCELLANEOUS Past Director, Education Alumni Society, University of California, Berkeley Contributing author, "Compensatory Education" in Quality Practice 1965 Author of articles in professional journals and publication~ (Calif0mia School Boards, Elementary Administrator, and others) Honorary Life Membership Award, California Congress of Parents and Teachers Past President, Board of Directors, Rancho Cordova Convalescent Hospital, Inc. Past Member, Board of Directors, Davis Community Hospital, Inc. Extensive speaking experience before professional and community groups Enjoy and participate in sports and athletics (golf, swinmfing, tennis, etc.) REFERENCES Senator Albert S. Rodda 3636 West Curtis Park Drive Sacramento, California 95814 Mr. Jerry Hayward, Former Chancellor CALIFORNIA COMMUNITY COLLEGES Private Consultant-University of California 1130 K Street, S te LL 10 Sacramento, California 95814 (916) 456-3141 (916) 441-5062 REFERENCES: (cont.) Mr. Larry Jennings Former Ins~-uctor - Academic Senate President Businessman POB 581 Soquel, California 95073 Mr. Charles Mannon Attorney Bank President POB 419 Savings Bank Ukiah, California 95482 Page Four Leroy R. Lowery - Resume (408) 462-0222 (707) 468-9151 300 SE~[~~VE.,-UKIAH, CA ~5482-5400 · ADMIN. 707/463-6200 · PUBLIC SAFETY 463-6242/6274 · FAX # 707/463-6204 · September 12, 1994 In taking out an application for appointment as City Treasurer for the City of Ukiah, I have received a copy of the City's Mission Statement, Fiscal Year 1994-95 Budget, Organizational Chart, City Investment Policy, and City Investment Portfolio. SIGNED: NAME DATE mfh:admin TREASURER ACCEPTANCE STATEMENT "We Are Here To Serve" · /~,DMIN. 707/463-6200 · Ft~X # 70?/463-6204 ~VE., UKI^H, CA 95482-5400 · PUI]l_lC .~t~E-D' 463-6242/6274 · · September 12, 1994 I understand that the City Council interviews of the City Treasurer applicants shall be conducted in open, public session, and that the interviews shall proceed in alphabetical order. Also, I voluntarily agree to wait in a room separate from the public interview session when other candidates are being individually interviewed by the City Council. In this way no single candidate will have a distinct advantage over another. SIGNED: NAME DATE rnfh:admln TREASURER PERMISSION STATEMENT '~Ve Are Here To Serve"