LA MESA VOTERS HAVE TWO OPTIONS FOR TREASURER
Eldon Vogt has held part-time position since 2006 election
Two men are running to oversee millions of dollars’ worth of investments in La Mesa, one of the few cities in the county that elects its treasurer.
Republican financial adviser William “Bill” Exeter is facing Democratic attorney Matt Strabone to manage a portfolio recently valued at nearly $70 million, according to city records.
The winner will replace Eldon “Bud” Vogt, who was first elected to the part-time position in 2006. Treasurers serve four-year terms and earn an annual salary of about $7,000.
State law limits what treasurers can invest in and most cities choose to appoint the role. Carlsbad, Escondido, National City and Oceanside are the only other places to hold a vote.
Ballots arrived in mailboxes earlier this month, and Election Day is Nov. 8.
Bill Exeter
Exeter, 60, has worked in the financial industry for decades.
“I want to give back to the community,” he said.
As head of The Exeter Group, Exeter helps people invest in more specialized ways than normally offered by firms like Edward Jones. For example, he can help clients defer taxes as they sell property to reinvest elsewhere, a transaction known as a 1031 Exchange.
Exeter spoke highly of how the city invests, especially in light of a possible recession. Officials already have “a nice portfolio to weather the storm,” he said.
While a treasurer doesn’t control policy, Exeter said he hopes his advice could nonetheless push the council in a more “common sense” direction. He cited money recently set aside for a “climate equity” consultant, as part of the city’s Climate Action Plan, as a “complete waste of taxpayer dollars.”
“This is absolutely not a city issue,” he wrote in a follow-up email.
Exeter reported a range of personal investments, including in Apple and Exxon Mobil, and income from his roles running The Exeter Group, LLC, based in San Diego, and the Wyomingbased Exeter Management Corp.
As of September, Exeter had raised about $2,500, according to financial disclosures. Since he’d spent more than $12,400, the campaign reported almost that amount in debts.
Matt Strabone
Strabone is an attorney who’s deeply connected to local Democratic politics and a frequent commentator on national issues.
His candidacy is based on the promise that better investments could improve city services without new taxes.
La Mesa could “earn hundreds of thousands — or even millions — of dollars more every year” that could pay for everything from expanded library hours to more first responders, Strabone wrote in a candidate statement.
He’s written about foreign policy for U.S. News and World Report and commented on Russian involvement in U.S. elections for The Hill.
In 2018, Strabone ran unsuccessfully to be San Diego County’s assessor, recorder and clerk.
The San Diego UnionTribune first reached out to the candidate Sept. 19. Strabone asked if questions could be sent by email, and after he was informed interviews were only being conducted in person or by phone he did not reply to follow-up requests to talk.
Strabone reported income from his own group Strabone Law & Treasury, the North Carolina-based software company Epic Games, where he is a lawyer, and his wife’s work at Scott + Scott Attorneys at Law LLP.
Strabone had raised more than $40,000 as of September, with the majority still on hand, financial records show. Some money came from higher-profile campaigns, including Sara Jacobs for Congress and Nathan Fletcher for Democratic Central Committee 2024, as well as a range of people involved in local government.