|
|
|
|
Submit
|
Custom Search
CivicLifeSportsSchoolsBusinessFoodOur HomesLetters/OpinionsCalendar

Published March 20th, 2019
Letters to the editor

Potential MOFD financial emergency warning

Director Jex has once again asserted that MOFD is facing a "financial emergency." Since his first Board meeting over two years ago Director Jex has repeatedly stated the District faces potential "bankruptcy". In fact, on at least two separate occasions Director Jex has stated the District must be prepared to "close a Fire Station".
Director Jex has made a significant contribution to the auditing of MOFD's Financials. His skill as an auditor is non pareil. However, when Director Jex steps from the role of an auditor to one of a financial analyst, Director Jex demonstrates a lack of understating of public sector financing, our local government organizational requirements, and the key role of Contra Costa County's Teeter Plan. With multi-million dollar balances in various District funds, Director Jex has forgotten the cardinal rule of governmental accounting; all dollars are fungible.
Since the financial doldrums of FY 2008/09, MOFD has:
 Almost completed a new Fire Station
 Replace several major pieces of capital
equipment
 Established two funds for the retirement of
pension and OPEB unfunded liabilities with
multi-million dollars balances
 Establish a general fund balance in excess of
5 million dollars
 Raised MOFD's ISO rating (an objective measure
of the quality of a District performance
The above are hardly the hallmarks of a public agency facing bankruptcy.
Director Jex's periodic cry of "bankruptcy . financial emergency" is not the cry of a Cassandra but more aptly the cry of a Don Quixote. Director Jex's periodic pronouncement does a disservice to the hard working men and women of MOFD.

Stephen Anderson
Orinda


print story

Before you print this article, please remember that it will remain in our archive for you to visit anytime.
download pdf
(use the pdf document for best printing results!)
Comments
Send your comment to:
Reach the reporter at:

This article was published on Page A11:



Quick Links for LamorindaWeekly.com
Home
Archive
Advertise
send artwork to:
ads@lamorindaweekly.com
Classified ads
Lamorinda Service Directory
About us and How to Contact us
Submit
Letter to the Editor
Send stories or ideas to:
storydesk@lamorindaweekly.com
Send sports stories and photos to:
sportsdesk@lamorindaweekly.com
Subscribe to receive a delivered or mailed copy
Subscribe to receive storylinks by email
Content
Civic
Lafayette
Moraga
Orinda
MOFD
Life
Sports
Schools
Business
Food
Our Homes
Letters/Opinions
Calendar
Copyright Lamorinda Weekly, Moraga CA