La Mesa’s newly appointed city treasurer, Emmett Stewart, is the youngest officeholder in San Diego County, and likely far beyond county limits.
During a Sept. 8 meeting, the majority of city council members voted to appoint the UCLA college student, 20, as the city’s next treasurer, over the only other applicant, longtime financial analyst Bill Exeter. The pair are also going head-to-head in November for a full four-year term as treasurer.
When the La Mesa City Council received former treasurer Matt Strabone’s resignation in July, they voted to appoint someone to the position rather than hold an expensive special election so close to the midterms.
As the November race heats up, Stewart will have the advantage of being an incumbent in the role, although that won’t be reflected on the ballot, which has already been finalized to describe him as a “Financial Analyst.”
Stewart faces Bill Exeter, with four decades more experience, who is listed as “Treasurer/CFO/CEO” on the ballot. Exeter, a Republican, lost to Strabone in 2022.
“La Mesa needs a treasurer who has already proven himself,” Exeter said in an opening statement before the council. “The considerations boil down to one word, and that is experience.”
By appointing Stewart to the role, the council unleashed a conversation on ageism. To some, his youth was a boon.
“I bring a fresh set of young eyes and ears to our local government,” Stewart said.
Stewart became the youngest officeholder in the city’s history, beating out Councilmember Lauren Cazares. She was elected to the council at age 24 and said she was told many times she was unqualified or underqualified.
“I’m hearing that a lot tonight,” Cazares said.
Cazares argued Stewart’s youth was a boon because he had a new perspective and made sure young people in the city had representation. In her questions, Cazares described the role as having a “limited scope” and being for less than 90 days.
“All of us learned on the job as council members overseeing this budget,” she said.
Republican Councilmember Laura Lothian voted against Stewart’s appointment, stating he lacked experience and knowledge for the role.
“Do you know the amount of money that you would be overseeing?” Lothian asked.
“A lot of money,” Stewart said.
“How much?”
“I do not know the direct number.”
She also questioned what portfolios Stewart had managed, which he acknowledged was only his personal portfolio, not outside clients or companies.
The La Mesa treasurer manages the city’s $70 million portfolio. Treasurers are paid $1,100 per month in the part-time role.
While in office and later, Strabone advocated for the city’s finance department to take over the elected treasurer role, with public and council oversight. Strabone said asking the small city to find qualified and willing candidates was a challenge. He also worried some would take on the role “to pursue ideological pet projects that have nothing to do with the scope of the job.”
Despite his concerns about the role, Strabone improved La Mesa’s finances while in office, according to Lothian, with record-breaking returns.
“I feel like this position is very important,” Lothian said. “I understand we have an accounting/financial department, but there’s a reason there’s a treasurer.”
This summer, Stewart’s LinkedIn showed him interning at Expeditor, a Fortune 500 logistics company. At UCLA, he is majoring in math and economics while serving as the spikeball club’s safety officer and as a self-employed tutor. Last year, he worked as a resident assistant.
Meanwhile, Exeter, 64, has four decades of experience as a financial adviser. He is the CEO of the Exeter Group, a family of financial advisory companies specializing in managing the funds and assets of real estate investors, according to his LinkedIn.
Exeter said he sought the treasurer role as a way to give back to his community. Stewart shared a similar sentiment about the home in which he was born and raised.
“My motivation for seeking the office of the city treasurer is rooted strictly in public service, not political ambition,” Stewart said. “I run simply because I care about this city and want to serve the town that shaped who I am.”
