When Libi (Elizabeth) Uremovic claimed;
The 'plan' ... is to continue to steal money out of the Pensions and run up the Pension Debt, then throw the Pension Debt into a Bankruptcy.
I responded with:
There has been no plan to enter into Bankruptcy. The City of Beaumont has begun the financial recovery process, thus avoiding even the consideration of bankruptcy.
When she exhibited her lack of an understanding of California's municipal accounting, I helped her education with this response:
Government Accounting Standards Board (GASB) Statement No. 68, commonly referred to as GASB 68, set an amended standard for accounting and financial reporting for pensions, which became effective with Beaumont’s fiscal year ending June 30, 2015. Also included in this standard is the disclosure of assumptions, explanations of annual changes, summary of information including ratio, plan resources, contribution rates, discount rates, and the recognition of deferred inflow and outflow of resources.
From these two responses, she writes a post on the Patch, her personal bulleting board, with the headline "Lloyd White Defends Pension Debt Increase". The title alone is clearly fake news, no reason to even read her post.
Not even her sole supporter, the one person who lobbied harder than anyone else in the City to save Alan Kapanicas, Gabe Ewing, could spin my responses into a defense of pension debt increases. Well, maybe Gabe could.
If her lips are moving or her keyboard is clicking, Elizabeth "Libi" Uremovic is spewing fake news.