Fiscal responsibility encompasses many attributes: responsible spending; appropriate debt levels; equitable revenue generation; efficient and effective program administration; realistic budgeting; auditing for compliance and many others. However, the true test of fiscal responsibility is to approach every decision as if the money/assets you are managing are your own. Making decisions in this manner will always position an entity (or government) in the best possible financial position. This is the manner in which I have performed my duties as Chief Financial Officer for four hospitals and currently as CFO of Midway College. It is also the philosophy I will bring to the Kentucky State House of Representatives.
Unfortunately, the people of Kentucky have not received responsible fiscal policy at the state level for many years. Responsible fiscal policy would have positioned our Commonwealth to weather the storm of the current economic downturn and even capitalize on current market opportunities. With low interest rates and low construction costs now would be an opportune time to invest in capital projects. Unfortunately, prior legislatures have not been fiscally prudent. Thus, our state is not financially in a position to take advantage of these favorable market conditions.
To correct our financial position, when elected, I will advocate for an independent third party comprehensive review of all state agencies to identify inefficiencies, duplicate services, wasteful spending and other opportunities to more effectively use taxpayer dollars. I will oppose any attempt to “enhance revenue” (raise taxes) prior to this comprehensive review and implementation of its findings. I believe we have a spending problem; not a revenue problem!
