The city of Camarillo, the victim of a faulty investment scheme that drained city coffers four years ago, will have about $2 million in reserve by the end of June--up about $800,000 from last year, officials said Saturday.
Councilwoman Charlotte Craven said the increase is a clear indication that the city is continuing its financial comeback.
In 1987 all of Camarillo's savings--about $25 million--were lost after former City Treasurer Donald Tarnow borrowed funds to finance highly speculative investments.
