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advocacy community education
Fixing Our Future in Connecticut
(continued from previous page)
We must act now to fix our future!
If you have a relationship with a legislator that
we can talk to, please let us know.
If you have a group of citizens that would be
interested in an eye-opening 30 minute pres-
entation relaying these facts through charts
and graphs, please let us know.
To get involved, contact CSCPA Public Affairs Director
Mark Zampino at 860-258-0212 or
We also are asking that we have a
full actuarial report. In the June 30,
2009 financial statements, the audi-
tors had to issue a scope limitation
because the report was not complete.
This cannot continue.
We must have an available fund bal-
ance to say we have a rainy day fund.
We cannot artificially create a rainy
day fund when we have no available
fund balance. Should the available
fund balance become higher than
necessary, the excess should be
committed to funding our pension
and OPEB obligations.
We must have a strategic plan and
incorporate long-term budgeting into
it. We must manage the balance
sheet by monitoring how our actions
now will affect our full accrual bal-
ance sheet in the future.
The CSCPA has launched a campaign
to "fix our future." We are working on
three fronts:
1. We have hand-delivered a letter to
Governor-elect Dannel Malloy with
our recommendations.
2. We are working with our legislators.
They need to understand the whole
picture. They need to make the
tough decisions and set limits for the
good of the state's long-term health.
3. We need to inform the people of
Connecticut of the state's fiscal cri-
sis through a grassroots effort. They
need to understand the issues and
support the legislators that make the
tough decisions. They need to
accept that we must all sacrifice. We
have run out of options.
Marcia L. Marien is
the managing partner
of Marien + Company,
LLC in Norwich, as
well as the partner in
charge of the firm's
accounting and auditing divisions.
Her primary focus is on accounting
and auditing for governments and not-
for-profit organizations.
On Friday, January 21, 2011, she will
present a session entitled "New
Perspectives on the U.S. and
Connecticut Economies and Fixing
Our Future"
along with
Klepper-Smith, chief economist and
director of research for DataCore
Partners LLC. See page 31 of this
issue for more information.