IRVINE : Selection of New Treasurer Delayed

The selection of a new city treasurer to oversee the city’s $325-million investment portfolio has hit a snag. Council members have asked for additional background checks on the three finalists and may broaden their search because of concerns over how far away the applicants live.

Two of the three finalists live nearly 100 miles away, according to City Manager Paul O. Brady Jr. Because the position is part time, city officials do not expect the successful applicant to move to the city. But Brady said it is imperative that the treasurer be available for meetings on relatively short notice.

“If we can’t decide on one of these three, I would recommend we go back outside and advertise again for the position,” Brady said, adding that he would not recommend any of the other applicants for the job.

About 36 individuals and firms applied for the treasurer’s position, formerly held by Jeff Niven, the city’s manager of fiscal services.

The council voted in April to remove Niven from the treasurer’s post--but kept him on as city fiscal manager--after reviewing a report on the city’s investment policies in connection with the failed county pool. Irvine had $208 million in the county investment pool, more than any other city.

City officials say the position is too important to be an add-on job to Niven’s other responsibilities. And council members say they will expand the part-time status of the job to full-time if necessary.

The job is advertised to pay between $45,000 and $55,000 a year.