Editor:
I know and like both parties running for city treasurer, and believe both have Laguna’s best interests at heart.
But my 30 plus years as a CPA with extensive knowledge of private and public accounting and finance lead me to conclude the differences between the qualifications of the candidates are too serious to be ignored.
The role of treasurer is not a bookkeeping function. The staff of the city’s Department of Finance handles the bookkeeping. The treasurer, elected by Laguna Beach residents, serves as the check and balance to those who keep the books, and has the fiscal responsibility to manage the city’s (our) money to ensure it grows and is protected. She is our chief investment officer and administers the assessment districts. The treasurer must have in-depth knowledge of compliance with and implementation of complex municipal finance laws and regulations, a thorough understanding of financial reporting according to generally accepted government accounting standards, and expertise in the highly specialized field of municipal finance, all of which differ greatly from private sector rules and practices.
Incumbent Laura Parisi is a CPA, certified municipal treasurer and certified fixed income practitioner. She currently serves as vice-chair of the Orange County Treasury Oversight Committee (where the schools keep their money), board member for the State of California Local Agency Investment Board, and chair of the Revenue and Taxation Committee for the League of California Cities.
She did not earn these positions of trust by accident.
By contrast the challenger for the position operates a local bookkeeping business. Her decision to run for treasurer is commendable, but bookkeeping skills are simply not adequate to responsibly and successfully fulfill the complicated duties of city treasurer, including the stewardship of our $90 to $100 million investment portfolio.
Qualifications and experience count, and the difference between the two candidates in this regard is unmistakable. Laura Parisi is the responsible choice for city treasurer.
Vicki McIntosh, Laguna Beach
