LOCAL Voices: Election 2009

More sophisticated cash flow management needed during tough times

By Peg O'Donnell
Incumbent Candidate for Redding Town Treasurer

[Sept. 24, 2009] In explaining what the treasurer does, I previously pointed out that the treasurer is responsible for cash flow and for securing debt for the town. Here is a bit more about cash flow.

The financial markets have changed as a result of what is now being called the “Great Recession.” Lenders expect more of municipalities in terms of financial policies and formal practice. That means that the treasurer will have a larger role in tracking cash flow and being sure that balances are maintained as expected by lenders. More sophisticated spreadsheets will be required so that up-to-the minute forecasts of cash balances can be maintained.

I am prepared to step up to this additional task. As a CPA with 30 years of experience in the field of accounting, and as a member of both the American Institute of CPAs and the Connecticut Society of CPAs, my professional background is especially suited to this task. In order to maintain my license in the State of Connecticut, I am required to spend at least 40 hours a year taking courses in accounting, management and related fields.

The job of the treasurer is not a partisan job. The skill set needed is specific and revolves around financial reporting and forecasting. My background gives me that skill set, and along with my experience on the job for eight years, makes me uniquely qualified for the position of treasurer. I ask that you cast your vote for me, Peg O’Donnell on November 3rd.