John M W Moorlach

County Treasurer John M.W. Moorlach has raised objections to a plan that would transfer control of deferred compensation accounts of county employees from his office to a private firm that is allowing the county to keep part of the money. The proposal, which would make the National Assn. of Counties and two other firms responsible for the $83 million that some employees voluntarily have set aside for retirement, comes before the Board of Supervisors for a vote this morning.

Treasurer-Tax Collector John M.W. Moorlach said Friday that his office will soon begin managing a portion of Orange County's investment pool for the first time since his predecessor's risky strategies plunged the county into bankruptcy 18 months ago. Announcement of the milestone came the same day the county said that it expects to complete the sale of $900 million in recovery debt by June 11 and officially emerge from bankruptcy on that day or soon afterward.

A watchdog group monitoring the treasurer's office decided Wednesday to allow Treasurer-Tax Collector John M.W. Moorlach to begin investing up $500 million of the county's $3.4-billion investment portfolio. Committee members voted 4 to 0, with one member absent, to let Moorlach invest a small percentage of the fund, with the ultimate goal of giving him control of 75% of the pool.

A member of the county's Treasury Oversight Committee on Tuesday said Orange County Treasurer-Tax Collector John M.W. Moorlach has not yet demonstrated that he is capable of managing the county's $3.4-billion investment pool. "I know that you are doing your best to learn more each day, but I'm sure that we both realize that money management experience is not a talent which you profess to have," Gary A. Pulford, a member of the committee, wrote in a letter to Moorlach.

Several Orange County officials, including two supervisors, voiced concerns Thursday about letting Treasurer-Tax Collector John M.W. Moorlach take over sole management of the county's $3.4-billion investment portfolio. Supervisors Marian Bergeson and William G. Steiner said they would prefer to safeguard the portfolio by sharing responsibility for the funds with other money managers.

County Chief Executive Officer William J. Popejoy has asked the Board of Supervisors to form a screening committee of finance professionals who would select the most qualified person to become the county's next treasurer. Popejoy's recommendation, detailed in a memo to the supervisors last week, comes despite support from a majority of supervisors to give the job to John M.W. Moorlach, the certified public accountant who ran unsuccessfully against then-Treasurer-Tax Collector Robert L.

Orange County Treasurer-Tax Collector John M.W. Moorlach said Monday he will oppose a half-cent sales tax increase designed to help bail out the bankrupt county unless cities, school boards and agencies that would benefit from the tax agree to support it. The government entities that had money in the county's failed investment pool have demanded to be fully repaid for their losses.

One member of a recently formed watchdog committee monitoring the Orange County treasurer's office proposed Thursday using outside money managers to invest the county's funds until newly appointed Treasurer-Tax Collector John M.W. Moorlach and his staff are proven competent to handle the $5-billion portfolio. "By being on this committee I'm putting my reputation on the line," said Gary A. Pulford, a vice president of First American Trust Co.

County Treasurer-Tax Collector John M. W. Moorlach joined the chorus of angry voices directed at city officials during a heated six-hour public discussion of the city's sizable investments in Orange County's failed investment pool. The emotional session Tuesday began with an announcement that Finance Director Jeff Niven will be stripped of his title of city treasurer. It ended with a pledge by each council member to revamp city investment policies.

In the spring of 1994, John M.W. Moorlach carried his message to voters that disaster awaited the county's investment pool unless then-Treasurer-Tax Collector Robert L. Citron's strategy was abruptly halted. The 39-year-old Costa Mesa accountant--Citron's first serious challenger for treasurer in more than 20 years--was thumped by a ratio of 3 to 2, and for six months his warnings were largely forgotten.