Councilman Rafi Manoukian’s committee against a ballot measure that would make the city treasurer’s position an appointed rather than elected position is in debt to the tune of $10,865.
Manoukian, the sole candidate for treasurer, has spent $12,965 on mailers, advertisements, signs, phone calls and voter lists, but has raised just $2,100 — all of it from himself and his parents, according to the latest campaign disclosure forms filed last week.
Manoukian said a fundraiser he had after the disclosure forms were due should cover much of the expenditures, which are all on credit cards.
“Once this is over, I’ll eat whatever I overspent,” he said.
While Manoukian contends that the push for an appointed treasurer is motivated by political opposition toward him, the current treasurer, Ron Borucki, has said that the best person to do the job can’t be found through the electoral process.
Borucki and Councilman Dave Weaver have pushed for the treasurer to be an appointment, which would be the case if Measure A passes.
Similar ballot measures have failed three times previously.
As part of the full-time job, the treasurer mostly invests Glendale's $372-million portfolio in bonds. The portfolio has struggled in recent years due to low interest rates set by the Federal Reserve.
Supporters of the measure say it would take popularity out of the equation for what they consider to be a highly technical position. Opponents say the top investor of public money should answer directly to the voters, not the city manager.
Manoukian has filed forms promising to spend less than $1,000 on his own campaign. No committee in support of Measure A has submitted financial disclosures.