Hemet treasure-elect questions city’s investment portfolio

Hemet’s Treasurer-elect Sue Savage, longtime critic of the city’s investment portfolio, asked the city how nearly $4 million in maturing bonds and notes will be reinvested by the end of the year in an email report Sunday, Nov. 22.During her campaign, Savage promised transparency in her office once elected. She will replace Judith Oltman, who served as the city’s treasurer for the past 24 years.The city has struggled for the past 10 years with balancing the budget due to the Great Recession, to rising employee benefit costs and now to the COVID-19 pandemic economic crisis. The investment rates for the city have been low, according to Savage, and need to be reexamined to help offset the deficits facing the city. Savage argued the point before the city council many times in the
Subscribe or log in to read the rest of this content.