It's not a beautiful day in the neighborhood when public debate is thwarted by personal attacks. Taken from the Cheney-Rove playbook, it's all [Councilman Michael] DeStefano has to offer. He can't discuss the subject matter, so let's attack the messenger, Councilman Brian Unger, as a "sound byte of fear and opposition." What is most interesting about Mr. DeStefano's latest assault is that he uses "facts" to back up his positions.

He states "the actual amount paid out (for accrued sick and vacation time) in 2009 was about $26,000 to date." OK, then when was the $500,000 paid to the three police officers? Point me to that transaction. I don't see it in 2008 because schedule 8-B of the city's Dec. 31, 2008, audited financial statement reflects the amount paid as only $111,053.16 (to Mr. Mehlhorn). In the past three years, almost $900,000 for sick and vacation time has been paid out to four employees!

Further, a recent headline on Oct. 15 read, "City says $10.4 million contingent liability." That was then. This is now: two weeks later, on Oct. 27, Mr. Mehlhorn said "it's not a liability … it's a hypothetical situation." OK so it was a contingent liability, then it was not a contingent liability, nor was not an actual liability but an imaginary one. Fact: It is an obligation to pay based on contractual agreements for work already performed and amounts readily determinable. Will it be paid out in Disneyland dollars?

Governmental entities that adhere to GAAP [Generally Accepted Accounting Principles] also follow GASB [Governmental Accounting Standards Board] statement no. 16, which regulates recognizing compensated absences earned by employees.

DeStefano blames loopholes in GAAP as the proximate cause of Enron's downfall. Actually, the problem with Enron was that it was loaded with politically connected, powerfully corrupt top management who not only decided not to follow GAAP, but were cunning enough to invite into their cabal the very oversight entities that could have sounded an alarm, including the Securities and Exchange Commission, Arthur Anderson, lawyers, the board of directors, securities dealers,

brokers, accountants, investment

bankers, journalists, and financial analysts. It was a house of cards. Hasn't Mr. DeStefano seen the marvelous 2005 documentary "The Smartest Guys in the Room?"

He should watch it with Mayor [Adam] Schneider. It shows what happens when power arrogantly decides what is best for everyone.

The AICPA [American Institute of Certified Public Accountants] considers GAAP the gold standard. GAAP has been taught in colleges and universities for almost a century. It is the reporting method that makes financial statements comparable. New Jersey's municipalities' statements cannot be compared with most other towns or cities across this nation. Why? Let's research and deliberate that question on behalf of our taxpayers.

The most important component of a community is communication, open and nourished. Without it, we're doomed. Even Mr. Rogers knew that.
Lynn M. Petrovich
Long Branch Citizens
for Good Government