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
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
Reach the reporter at:
Lamorinda Weekly, Moraga CA