Dictos on debt
Yes I do—this is indeed, the reason for my candidacy.
The county has accumulated a deficit of $387 million, an unfunded liability of $539 million and a long term debt of $935 million–as of 6/30/07. Do I think the county has too much debt? You bet I do! Fresno County has far exceeded its legislated legal debt limit. Since we lost some of the fiscal stalwarts on the Board, such as the late Deran Koligian, and Sharon Levy, the county, over the past four years stands in violation of state statutes (see page 124 of Fresno County’s latest CAFR). We have borrowed in excess of our legal limit. If we want to be a law abiding county, we cannot legally add another dollar to the current debt limit. At a recent public meeting, a board member was quoted saying: “The county is BROKE” and another one “we are balancing the budget with FAKE money”. It is very hard to argue with such profound and heart felt statements when they come form the mouths of sitting board members.