ELIZABETH "LIZ" YING
Treasurer Ying is serving for the first time as City Treasurer. She first became involved with City government when she attended PVE’s Citizen’s Academy in 2017. The Citizen’s Academy is a free City program which familiarizes citizens with municipal operations/services, budgeting, police and fire services, environmental programs, community recreation as well as the City’s history and vision for the future. She then served on the City’s Investment Policy Advisory Committee, where she worked with the Treasurer, and fellow Committee members, to help refine the City’s Investment Policy.
Treasurer Ying, currently retired, brings over thirty years of experience in the financial services industry, including six years in institutional investment sales and twenty three years in corporate banking. As a corporate banker, she helped Fortune 500 companies with their financing and credit needs, assisted them with their investments, and worked with them to achieve more effective operations through tailored banking solutions.
She graduated with a Bachelor of Arts in Economics and Political Science from UCLA, and a Masters of Business Administration with a concentration in Finance and Accounting from USC.
Treasurer Ying moved to Palos Verdes Estates in 2009 for the area’s natural beauty and the City’s unique character. Her priority is to invest prudently, to ensure the safety and liquidity of the City’s funds, and to apply her financial background to assist the City in achieving its financial goals.
Treasurer’s Duties and Responsibilities
The City Treasurer is a part-time position elected at the City’s General Municipal Election. The candidate elected in the March 2017 municipal election will serve until November 2020; thereafter the term will be four years and elections will occur in November concurrent with State and National elections. The position is not subject to term limits.
The Palos Verdes Estates City Treasurer, as an elected official, maintains an autonomous role for oversight and decisions relating to the investment and safe keeping of City funds. The position is independent of the City Council who has the role and responsibility for City government including establishing City policies. The City Treasurer’s function is defined by California Government Code Section 41001-41007 and guided by the Palos Verdes Estates Investment Policy and other policies that are adopted by the City Council. The City Treasurer, working closely with City staff, has the specific function to (1) assure the availability of funds for meeting the City’s daily cash flow needs, (2) manage and recommend City banking and custody service agreements in conformance with City policy and best practices, (3) work with authorized investment brokers and invest responsibly for maintaining the security and accessibility of City funds, (4) prepare monthly portfolio statements and quarterly portfolio reports that present investments, results, conformance to the City’s policies and best practices and appropriate liquidity, and (5) annually review and recommend updates to the City’s Investment Policy. The City Treasurer is supported in his/her duties by an Investment Policy Advisory Committee that includes the City Treasurer, who shall serve as Chairperson, and two residents appointed by the City Council. The City Manager or designee serves on the Investment Policy Advisory Committee as an ex-officio member. The City Treasurer also is responsible for providing a signature on approved checks, drafts and warrants.