IRVINE : 34 Apply for City Treasurer Job

As of Friday afternoon, the city had received 34 applications for the part-time treasurer’s position created after Orange County’s bankruptcy filing and amid criticism of Irvine’s aggressive investment strategies.

Friday was the application deadline for the post held by Jeff Niven, the city’s manager of fiscal services. After reviewing a report on the city’s involvement in the collapsed Orange County investment pool, council members in April voted to remove Niven from the position.

As treasurer, Niven monitored all city investments. He will continue to serve as manager of fiscal services. The city has the option of contracting with a private firm to fill the position.

The report found no violation of law or city policy by Niven, but he and City Manager Paul O. Brady Jr. have been criticized by a group seeking to recall Mayor Michael Ward and council members Barry J. Hammond and Paula Werner. Recall leader Gary Kingsbury has targeted the three for their votes last summer to borrow $62 million for an additional investment in the county pool.

Irvine had $208 million in the pool--more than any other city had invested--when the county filed for bankruptcy protection Dec. 6. The county has returned all but $38 million of the city’s funds.

Brady said he sees no need for dramatic changes in the way the city’s investments have been handled. “I don’t think this is a tightening of the former position at all,” Brady said. “It’s just a separation of the duties.”

The applications will be reviewed by the city’s newly formed investment committee, with interviews scheduled for the week of July 17.

The panel will make recommendations to the City Council, which is expected to fill the post in August.