The city treasurer is an elective position that has a term of four years. The city treasurer provides a direct voice of the people regarding the management of all cash and all invested public funds. In general, the treasurer's office provides banking and investment services with minimum service cost and maximum yield on investments.
The city treasurer's office is charged with the design of an effective cash management and investment program for the city and all of its agencies, including the Carlsbad Municipal Water District. Among other activities, these duties include developing an investment policy for City Council approval, arranging for banking services, forecasting all cash receipts and expenditures, investing all inactive cash and reporting all investment activities.
Investments are managed through an investment pool of assets representing inactive cash from the various funds of the city and all of its legal agencies. Cash received into the pool is invested without regard to the agency and the fund from which it originated. Accounts are maintained, however, that identify the amount of cash contributed and the interest earned by each agency and fund involved.