Carlsbad City Treasurer Craig Lindholm, a 40-year resident who’s held the part-time position for 11 years, has submitted his mid-term resignation effective June 14.
“My decision to retire was not an easy one; however, an expanding roster of out-of-state grandchildren made the decision easier,” Lindholm said in a resignation letter dated June 2 submitted to the Carlsbad City Council.
“The treasury function is in a much stronger position today than when we began this journey,” Lindholm said in the letter. “The residents of Carlsbad are fortunate to have a leadership team to manage our direction and focus upon essential services.”
He was re-elected to a four-year term in November 2022, when there was one other candidate, Lance Schulte.
Carlsbad’s municipal code states that if an elected official resigns with more than 25 months left in the term, a special election is required. In this case, the next available date would be Nov. 5, 2024, which would place it on the ballot with the general election.
The city’s finance director will fulfill the duties of the retired city treasurer until a new person takes the position, according to a city news release.
Candidates for city treasurer must have a four-year college degree in business administration, public administration, accounting, finance or economics. Also, candidates must have four years of financial work experience or a valid certification from one of four relevant state boards, institutes or associations.
Compensation for the position is $1,187 per month, an annual auto allowance of $2,400 and the same retirement and health benefits available to unrepresented city employees.
The city treasurer’s office is responsible for an effective cash management and investment program for the city and all of its agencies, including the Carlsbad Municipal Water District.
A wealth management adviser for Northwestern Mutual Wealth Management Company, Lindholm was appointed to the position in 2013 and was unopposed in the 2014 and 2018 elections.
