Dawn Esser, Candidate for Redondo Beach City Treasurer

Dawn Esser, a 24-year resident of Redondo Beach, is one of two candidates in a runoff for the Redondo Beach treasurer position. She has served as a board member and auditor for the Parras Middle School PTSA and the Beryl Heights Elementary PTA, the director of the South Bay Parkland Conservancy, and a board member of the Lutheran Church of the Good Shepherd.

Below are Esser's responses to a questionnaire compiled by Patch editors.

Redondo Beach Patch: Why are you running for city treasurer?

Dawn Esser: To ensure a seasoned and qualified financial professional is managing our finances, and to use my vast experience in cost, budget and cash flow analysis to cut expenses and free up funds for the betterment of our community. I also want to use my experience in developing financial presentations for corporate VIPs and financial investors to create easy-to-understand financial updates to bring the residents closer to the financial affairs of the city.

Patch: What are your qualifications?

Esser: In contrast to the other two candidates, I hold MBA and BS degrees in finance, and have 20 years of financial management experience. At Bank of America, I managed a $10 billion credit portfolio and structured syndicated bank debt that the city invests in. At Hughes Aircraft, I managed $250+ million cost pool budgets, and I managed the finances, logistics and business development of an overseas manufacturing and import business for 11 years.   

In 2009, I retired from my CFO position to invest in real estate. I have purchased, renovated and leased five properties in three years with a cash flow annual return of 8.1 percent. Additionally, I manage my family’s investments in stock, mutual funds, bonds, ETFs, s and money market accounts.

I have the expertise, education and ability to serve full-time as City Treasurer.

Patch: If elected, how do you plan to maximize city revenues?

Esser: I will support and implement the restructuring plan recommended by the Acting and Deputy Treasurer to reduce staffing from two full-time professional positions down to a full-time treasurer and a part-time support person to save $122,000 annually. This can be done with the reduction of administrative tasks and emphasizing the oversight responsibilities of the office. This will free up time for the Treasurer to concentrate on the enhancement and audit of city tax revenues. Also, if I am elected, after first-hand experience and careful review, if I believe further downsizing and departmental cost reduction changes are in the best interest of the taxpayers, I will make recommendations to the City Council and ask for a resident vote if necessary as per our City Charter.

I will also team up with the Financial Services department to increase cash flow efficiencies, reduce working capital needs and save expenses.

In managing the investment portfolio, the objectives of the Treasurer are safety, liquidity and return, in that order. To safeguard the principal value of the portfolio, the City and State allow investment in specific types of fixed income products such as U.S. Treasuries, CDs, and city and municipality investment funds. The current low interest rate environment does not bode well for return on these low risk investments. The City’s investment portfolio will therefore have a low investment return over the next few years until interest rates rise. I will retain the professional investment advisor services currently in use which increase access of technical market data and increases the depth and breadth of available investment products to ensure maximum return.

Patch: Why should people vote for you?

Esser: People should vote for me because of my proven financial management leadership and because I am new to city hall and can bring a fresh set of eyes and viewpoints. I am also true to my campaign platform and will implement my goals for the treasurer’s office as follows: 

• Protect Residents Assets: Ensure maximum return on our Community’s Assets and adequate working capital for the future.
• Clean House: Streamline Treasury operations and significantly cut expenses to free up funds for betterment of the Community.
• People First: Create easy to understand financial updates to bring the residents closer to the financial affairs of Redondo.
• Team Up and Save Money: Team with Financial Services to increase cash flow efficiencies, reduce working capital needs and save on expenses.

Patch: Is there anything else you'd like to say?

Esser: I’d like my fellow Redondo residents to understand that one opponent, Steve Diels, is promising to save $300,000 annually by changing the Treasurer into a part-time position; something that he has no power or authority to do. Changing the position to part-time requires the City Council to agree and to put it on a ballot for the residents to vote per the City Charter. Mr. Diels served eight years on the Council and did not implement restructuring or reforms to the Treasurer’s office, but is promising to make reforms now as a campaign strategy. 

The Acting Treasurer and the Deputy Treasurer have recommended reducing the department from two full-time professional positions down to a full-time treasurer and a part-time support person to save $122,000 annually. This restructuring and cost savings can happen this year.

Related:

• Dawn Esser 4 Treasurer
• Dawn Esser 4 Treasurer on Facebook
• Dawn Esser [Patch]
• Redondo City Treasurer Candidates Answer Questions From The Beach Reporter [Beach Reporter]
• Redondo Beach Treasurer Candidates Face Off [Easy Reader]
• Redondo Beach Treasurer Candidates Spar Leading up to All-Mail Election [Daily Breeze]
  

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