Treasurer Cisneros Wants Your Vote – Tim Gaskin

Openly gay San Francisco Treasurer José Cisneros is up for reelection as manager of the city’s checkbook. His appointment to the position by Mayor Gavin Newsom in September 2004, after Susan Leal vacated the job to become the San Francisco Public Utilities Manager, keeps the position in the LGBT family. Cisneros is actively campaigning to keep his job.

Cisneros says, “The most important thing for me to do in this race is to let the people know what the treasurer does.” As treasurer, Cisneros serves as banker, tax collector, investment officer, collection agent, and provides safekeeping for all city funds.

He also wants voters to know that he is excited to be in the position to follow in the footsteps of the previous treasurer Susan Leal, who is an open lesbian. “We’ve been building on the good work and practices that she put in place.” He says.

Already the city controller’s office has announced that Cisneros’ office brought in 40 million more in tax revenues than expected this year. “So we’re actually able to close the city’s budget deficit and we’ll have less cuts,” Radiates Cisneros.

Another major function of the office is to invest city revenue. The city has anywhere from 2.5 to 3 billion dollars on deposit each day which earns millions of dollars of interest every year. “We’re very careful about the way we invest it.” Says Cisneros.

Despite raking in millions more tax dollars than expected, Cisneros is most proud of the work he’s done outside of the treasurer’s conventional role such as the Working Families Credit program. It offers a 10-15% match to the families’ federal Earned Income Tax Credit with an average $360 benefit for a family with two children living in San Francisco.

The program is available to San Francisco families making less than $36,000 per year. “Believe it or not,” asserts Cisneros, “We actually have a lot of folks here who are making below that each year.”

Cisneros calculates that upwards of 12 million dollars of funds eligible to San Franciscans went unclaimed last year, money that could have gone to benefit low-income families and to be part of the San Francisco economy. “It will be a big help to everybody.” He adds.

The treasurer also wishes to help residents without bank accounts, get one. He asserts that 22% of adults in California don’t have one. “So that means when they get paid, they take their paychecks to one of those check cashing companies.”

He maintains that their fees are a rip-off and the short-term “payday” loans offered are deceptive in terms of interest charged. Cisneros complains, “It’s as much as 100% and as high as 500% each year, which is an incredible expensive amount of money on a two week loan.”

The treasurer says his “financial literacy” plan benefits everyone in our home economy. “We’re right now talking with banks and other non-profits to create a list of banks or credit unions where they can go and get a low-cost or a free bank account and better manage their money.”

The Treasurer also uses his position to advance the causes of the local LGBT community. Last year, when San Francisco began performing same-sex marriages, Cisneros was a proud part of the city family and performed weddings at city hall.

www.josécisneros.com