For treasurer, voters have two choices, incumbent David Preleski (D) and challenger Rob Parenti (R). Preleski’s responses to TBE questions are listed below. Parenti did not respond.
The answers to the questions appear just as the candidate stated, with the exception of minor copy editing.
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David Preleski
What do you consider to be your major accomplishments during your term? And why? Not all but the most significant ones, please.
This was my first term as city treasurer. In the last two years, interest rates in the national market increased significantly. I worked with our banks and negotiated significantly better interest rates on our deposits. I reinvested other monies in agency investments with higher yields while keeping money available to pay our bills. I had nothing to do with rising interest rates in the market, but I worked with our business partners to maximize our returns. My department income exceeded budget by a great deal and I’m proud of that.
What do you consider to be the most critical or significant moments over the past two years?
Same as above.
What are your political credentials, both prior to and as a result of your experience over the past two years?
My background professionally and in terms of education is in finance and economics. I am very comfortable with my knowledge of the markets and investment strategy. I was a banker in my career, and I taught economics on the college and junior college level before I went to law school. In addition, I spent six years on the city council and worked on the city budget while a council member. I know how the city works. The voters really made a big mistake when they declined to make my position as appointed. You need a strong financial background to maximize the value of this position.
I deal exclusively in finance. The city is in very good shape financially. We have a healthy reserve, great bond rating and a top shelf pension fund. I have been on the retirement board which manages the city pension for several terms for over 15 years. I am currently vice chairman of that very important committee.
How do you view the city today?
See above
Experiences/facts that confirm this view.
See above
What lies ahead for you for the next two years if reelected? In other words, what do you consider to be your biggest challenge?
In the next two years, we will put our banking services out for bid. This is a big deal as it has a significant impact on the city’s financial relationships. I also plan to re-deploy some of the assets we have in local banks into agencies to get a better yield.
How do you intend to advance this agenda or to meet this challenge?
I’ll advance my agenda with the approval of the finance board who will agree with my approach.
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