(INITIATIVE) Shall the initiative ordinance to increase the powers of the City Treasurer, limit the City Council’s ability to restrict the powers of the City Treasurer, reduce oversight authority of the City Manager and Director of Finance, mandate the City Treasurer's assumption of professional responsibilities over the City's $523,000,000 Budget, $256,000,000 Investment Portfolio, Finance Department, preparation and submittal of the annual municipal budget, and professional financial operations of the City, be adopted?
2, Ventura County • 2020 • Measure
Failed
Result: 38.3% yes, 61.7% no (64,636 votes cast)
AI-generated plain-language summary
This initiative would have expanded the City Treasurer's authority to include oversight of Ventura's $523 million budget, $256 million investment portfolio, and Finance Department, while reducing the City Council's ability to restrict these powers and limiting oversight by the City Manager and Director of Finance. The measure would have transferred significant financial responsibilities from other city officials to the City Treasurer position.