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TOUGH DECISIONS ARE ON THE WAY!
The State of Our City
Headlines have consistently raised one theme over the past few months: Is the city headed toward complete economic disaster?
Every day, San Diegans are forced to contemplate whether the quality of life they have grown to love and expect will survive due to lingering questions about the city's fiscal stability.
Recently, the Chamber received a briefing from the city regarding plans to solve the crisis.
Several issues not covered in the headlines were discussed and attendees left City Hall with a better understanding of where we are today and where we need to be.
The most significant disclosure is that the completion of the audit is critical.
The audit, when finished, will provide a clear picture about how significant the city's problems really are. The audit is being carefully handled by KPMG, a highly respected firm, and cannot and should not be rushed.
Federal law, specifically the Sarbanes-Oxley Act, states that any attempt to pressure KPMG during this process could enable them to discontinue the audit process, which would clearly worsen the situation.
KPMG has never audited the city before. The firm is, thankfully, conducting a thorough review and learning about the city's detailed operations before it can begin to offer opinions.
Once the audit is complete, the City Council will have the information necessary to implement a plan to address existing problems and any new issues that are revealed.
One thing is certain, tough decisions will have to be made by the City Council and their subsequent actions will impact: citizens, city employees and the business community.
Some have argued that bankruptcy is the only solution to this problem.
Discussions about bankruptcy are premature, because the city will not have all of the information necessary to thoroughly evaluate the situation until the audit is complete.
All potential options must be discussed in detail after the audit is completed. In the end, the City Council should construct the best plan for guiding us out of this disastrous situation.
It is imperative that residents pay close attention to the details. It is not enough to just read the headlines.
The chamber believes that our trash will still be collected, our parks will still be open and that there will be adequate public safety protection.
Reading the story beneath the headline will be important. Residents must demand full disclosure from City Hall, as this situation continues to unfold.
In the end, we all share a common interest of taking the steps necessary to preserve and protect this city that we all love and call home.
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"Celebrating Mexico's Democracy"
Fourth Annual International Tribute Award Honoring Cuauhtémoc Cárdenas
Don't miss this event honoring one of Mexico's most respected elder statesmen and foremost governmental architects. Awards will also be given for Distinguished Past Service to
the Region, San Diego/Tijuana Citizen of the Year and Special Cultural Recognition.
When: Thursday, December 2, 5:00 p.m. Registration and Reception; 6:00 p.m. Dinner Gala and Awards Presentation
Where: Marriott Hotel & Marina, Marriott Hall Salons 1 & 2, 333 West Harbor Drive
Cost: Tables of 8, $1000; Individual tickets, $125; Couples, $225
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Business Alliance Members Increase Sales
Through involvement in the Business Alliance, Chamber members have grown their professional circles of influence and the results are simply incredible…for more information,
please visit
Business Alliance.
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