All four Democratic candidates vying for Treasurer in the August 7 primary have offered plans to improve the office. Yet, some of the candidates’ public promises can’t be completed by state law, said state Rep. Tishaura O. Jones, who is running for the office, which oversees the city’s Parking Division.
One of the other candidates, Alderman Fred Wessels, stated on his website, “Over the last 10 years, the Parking Division has collected over $120 million in revenues and provided only $3.5 million to the City general fund.” Wessels says he would do better than that – but it’s not allowed by law.
Jones said no matter how much money the Treasurer’s Office makes in parking revenue, the office is limited in the amount that it can transfer to the city’s general revenue fund by the 1980 Hancock Amendment.
The law states that if a city is going to charge for a service, the revenue has to be equal to its expenses and anything over that has to be returned to the taxpayers.
“If you raise the parking meter rates, that money can’t be turned over to city,” said Jones. “It would have to be refunded to the taxpayers. There’s no pot of gold.”
However, investment returns are not limited by the Hancock Amendment. And that’s how Jones plans to use the office to improve the city’s finances if elected. The Treasurer is also responsible for making all investments for the city.
Most recently, Jones was employed as vice president of municipal finance for Blaylock Robert Van, an investment banking firm. As a state legislator in her second term, Jones said she has a strong handle on the law and investment banking – two skills that would allow her to make real change and growth in the office.
“I am most interested in making sure all departments are running effectively,” she said. “I’d also focus the office as a whole on making sure we are increasing our return on investments.”
Currently taxpayers can’t tell what the office does, based on the office’s website, she said.
“You get a brief overview, and then there’s information about how to get the boot off your car,” she said.
“I want to make sure that citizens can see how their dollars are being invested and how it stocks up against national benchmarks. I want it to be a website that is interactive. For those who can’t access the website, I plan to involve the office in more community outreach.”
Jones said the Treasurer’s Office should be a resource to the people.
“The treasurer should be more involved in helping city residents improve their overall financial health,” she said, “by warning them about the dangers of predatory lending, decreasing the percentage of families that aren’t using banking services, or helping people craft budgets that teach them how to live within their means.”
The other candidates on the Democratic ballot are Jeffrey Boyd, another alderman, and Brian Wahby, a longtime Democratic operative who has worked and consulted for the current Treasurer, Larry Williams, who did not seek reelection.
The state auditor issued a scathing audit of the City of St. Louis Treasurer’s office in 2008. The audit found that the office did not adequately document almost all of its financial responsibilities – which includes monitoring more than 30 of the city’s bank accounts and issuing all payroll checks. One of the many accounting failures cited in the audit related to a consulting contract awarded to Wahby.
“Because of my legislative experience, I am the only candidate that has state experience to know how to run the Treasurer’s Office effectively,” Jones said.
The City of St. Louis is a county, and the Office of the Treasurer is subject to state law.
She also has leadership experience. After her first term in the state House, Jones was selected by her colleagues as the Assistant Minority Floor Leader. She is the first African American and the first woman to hold this position in Missouri history. She was the second in command of the Democratic members of the Missouri House of Representatives.
“Tishaura Jones selflessly works with her colleagues to ensure that our progressive message is heard. Her upbeat, positive attitude brings the energy the minority party needs to accomplish our goals,” said state Rep. Tracy McCreery.
“As the House Democrats’ liaison to President Obama, Tishaura conveys White House updates on policy and breaking news which helps make our caucus an integral part of the national Democratic Party team. Tishaura has a reputation for hard work, and those on both sides of the aisle have deep respect for her ability to work with diverse groups of people.”
Her experience and plans for the office have convinced a long, broad list of people to endorse her, including License Collector Michael McMillan, eight state representatives (Chris Carter, vice chair of Democratic Caucus and a committeeman; Steve Webb, chair of Missouri Legislative Black Caucus; Stacey Newman, chair of the Progressive Caucus; Tommie Pierson; Jeanne Kirkton; Tracy McCreery; Rory Ellinger; Margo McNeil; nine committeepeople (Sharon Tyus, Sterling Miller, Claude Brown, Norma Leggett, Ed McFowland, Audrey Larkin, Kerry Wilson, Joe Palm, Pamela Boyd), Alderman Gregory Carter, St. Louis Community College Trustee, Hattie Jackson and National Women’s Political Caucus.
The Democratic primary for Treasurer, which will in effect decide the office, is August 7.
