Monday, July 28, 2014
PLACERVILLE, CALIFORNIA
99 CENTS

Briggs not qualified

By
From page A5 | April 07, 2014 |

EDITOR:

Not everybody knows it, but not anyone may run for any office; sometimes legislators guard the public interest with strenuous requirements.  Attorney general candidates, for instance, must have been a licensed lawyer for five years. And as with the attorney general, to qualify as an El Dorado County treasurer there are specific requirements enumerated in Government Code Section 27000.7.

Why? Because in 1994, the County of Orange and other public agencies entrusted their funds with Orange County Treasurer Robert Citron, who suffered a backbreaking bankruptcy when he lost over $1.6 billion because he made risky, bad investments. Citron was an Orange County politician who bet the “farm” that interest rates would remain low and lost his bet and the farm. Citron’s excuse was he didn’t have a college degree and was duped. Citron pleaded guilty to six felony counts while 3,000 county employees lost their jobs and school districts felt the pain with massive budget cuts.

In response to the debacle, the state Legislature enacted minimum qualifications beginning in 1998 for County Treasurer-Tax Collector. Persons running must have either a baccalaureate, masters or doctoral degree in business or related fields like econ or finance with at least 16 units of accounting, or CPA license, or be a Charted Financial Analyst or a Certified Cash Manager, with both the latter two also requiring 16 units of college accounting. Ron Briggs has none of these qualifications, let alone achieving a college degree in any field.

There is another way to qualify and that is by serving in a senior financial management position in a public agency for not less than three continuous years such as an assistant treasurer or assistant auditor or in a similar capacity as a chief deputy. Briggs claims that being a county supervisor should qualify him because he voted on budgets, etc. That is not what three continuous years in a senior financial management position means. It means someone who has first-hand experience in accounting and investing public funds day in and day out, eight hours a day for three straight years (vacations excepted). Briggs is a politician, not a financial manager.

And it is obvious Briggs learned nothing about handling public funds when about two years ago during a BOS meeting he said the No. 1 priority for county investments is yield and that safety isn’t that important. After six years as a member of the Board of Supervisors, Briggs hadn’t even learned the basic tenants of public investments, which are prescribed by government regulation (SB 861). In investing public funds, the first priority is safety. Second is liquidity and third and last is yield. Briggs would be setting up the county to risk public funds with another Citron style bankruptcy.

Thank goodness, if Briggs were to somehow win this election, he can still be disqualified pursuant to section 27000.7.

B. OMENSKY
Rescue

Comments

comments

Letters to the Editor

.

News

 
County’s chief lawyer: No Brown Act violation

By Chris Daley | From Page: A1

General Plan workshop today

By Chris Daley | From Page: A1

 
Two growth control initiatives get green light

By Dawn Hodson | From Page: A1

Sand Fire burns more than 4,000 acres

By Dawn Hodson | From Page: A1, 2 Comments | Gallery

 
Fatal accident in Camino

By Cole Mayer | From Page: A1 | Gallery

Agricultural Crop and Livestock Report released

By Ross Branch | From Page: A3

 
35 people displaced in Tahoe hotel fire

By Tahoe Tribune | From Page: A3 | Gallery

.

Opinion

The balancing act: Toxic waste spreads

By Larry Weitzman | From Page: A4, 2 Comments

 
Bee-ing silly

By Mountain Democrat | From Page: A4, 1 Comment

 
.

Letters

Letter to Speaker of the House

By Letters to the Editor | From Page: A5, 2 Comments

 
GDPUD misinformation

By Letters to the Editor | From Page: A5

At the crossroads

By Letters to the Editor | From Page: A5, 1 Comment

 
Want more water?

By Letters to the Editor | From Page: A5, 1 Comment

Refugee crisis

By Letters to the Editor | From Page: A5, 1 Comment

 
.

Sports

Camp experience is ‘priceless’

By Mike Bush | From Page: A6 | Gallery

 
Speedway races cancelled

By Democrat Staff | From Page: A6

El Dorado doubles up on Pro Players

By Mike Bush | From Page: A6 | Gallery

 
Under the Scoreboard: July 26, 2014

By Democrat Staff | From Page: A6

Schedule: July 28 – Aug. 2, 2014

By Democrat Staff | From Page: A6

 
Roundup: July 26, 2014

By Democrat Staff | From Page: A6

Local spiker shines

By Democrat Staff | From Page: A7

 
Sports Scene: July 26, 2014

By Democrat Staff | From Page: A7

.

Prospecting

A beautiful day at Wakamatsu Tea and Silk Colony Farm

By Cathy Barsotti | From Page: B1 | Gallery

 
Foothill gourmet: Things get corny

By Donna Brown | From Page: B2

Bipolar Insights: From point A to point B

By Marcia Rose | From Page: B2

 
Cool time at Cowboys and Cornbread

By Democrat Staff | From Page: B2 | Gallery

As we were: Recreation district grows

By Ken Deibert | From Page: B4

 
Cantare names new director

By Cantare Chorale | From Page: B10

 
After 5 Club to meet

By Senior Day | From Page: B10

.

Essentials

Divorces

By Charlotte Sanchez-Kosa | From Page: A2Comments are off for this post

 
DUI Log: June 25-July 9

By Cole Mayer | From Page: A2

Crime Log: July 14-16

By Cole Mayer | From Page: A2

 
.

Obituaries

.

Real Estate

.

Comics

Rubes

By Contributor | From Page: A8

 
New York Times Crossword

By Contributor | From Page: A8

TV Listings

By Contributor | From Page: A8

 
Speed Bump

By Contributor | From Page: A8

American Profile Crossword

By Contributor | From Page: A8

 
Tundra

By Contributor | From Page: A8

Horoscope, Tuesday, July 29, 2014

By Contributor | From Page: A8

 
Horoscope, Monday, July 28, 2014

By Contributor | From Page: A8

Shoe

By Contributor | From Page: A8

 
Sudoku

By Contributor | From Page: A8