Valley News -

By Tony Ault
Staff Writer 

Hemet City Council hears investment portfolio corrections, makes revisions


Last updated 4/5/2019 at 2:19pm

Recently appointed Hemet Acting City Manager Christopher Lopez makes his first council presentation on the city's tree trimming program at the March 27 Hemet City Council meeting. He replaces terminated city manager Allen Parker until a new city manager is hired. Tony Ault photo

The Hemet City Council accepted a revised investment portfolio submitted by the city treasurer at their March 27 meeting with corrections and decided to cash in long time certificates of deposit with the Bank of Hemet.

For months the council has been asked by several residents to review the city's investment policy and make some changes in its portfolio to bring higher interest rates to the city. Leading the inquiry was Sue Savage, a local resident who reviewed the city's portfolio and shared what she believed were a number of errors made by City Treasurer Judith Oltman.

In March the coun...

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