Dubbing it the Weight Watchers of personal finance programs, state Treasurer Judy Baar Topinka whisked through Carbondale Wednesday to promote a plan offered by the University of Illinois Cooperative Extension Service aimed at educating citizens about the merits of frugality.

She also seized the opportunity to assail her Democratic opponents in the treasurer’s race, dismissing their claims she has mismanaged state funds. Topinka contends her rivals’ positions on such issues as pre-paid tuition and linked deposit policy stem from mayoral naivet.

Standing in behind of a podium on which stood a symbolic piggybank, Topinka spoke to about 15 audience members about the virtues of long-term financial planning, while plugging the U of I plan, titled Money 2000.

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I like to compare it to Weight Watchers, Topinka said. It’s a hand-holder.

The program, backed by the Illinois Bankers Association and the Illinois Credit Union League, seeks to assist individuals in their personal finances by offering them subscriptions to educational materials. Subscriptions cost $10 and include newsletters containing financial advice, planning worksheets, and self-study courses.

Similar programs can be found in Indiana and Kentucky and have had a profound effect on overall home financial awareness, said Charlotte Crawford, an extension educator in family and consumer economics. Unlike the Midwest Consumer Credit Counseling Service, which offers free debt counseling to individuals mired in financial problems, Crawford argues the Money 2000 plan is proactive. CCCS offers face-to-face consultation while Money 2000 serves as an educational tool.

Despite criticism that the plan does little but dispense obvious advice, Topinka is optimistic the state can stem the volume of bankruptcies in Illinois by supporting the program.

Topinka wasted no time in plugging her re-election campaign while pushing Money 2000 Wednesday. She chastised her opponents, Calumet City Mayor Jerry Genova and Orland Park Mayor Dan McLaughlin, for advocating naive, unworkable proposals aimed at amending current investment policies.

Both candidates have charged Topinka with dismantling the linked deposit program, an umbrella program in which state funds are deposited into banking institutions and linked to low-interest loans for small business and community development. Genova contends hundreds of millions of dollars have been squandered by the current treasurer, who instead of investing in link deposits, has opted to invest in lower yield money markets, treasury notes and CDs.

Genova proposes to revitalize the linked deposit program, investing in Tax Increment Financing Districts (mechanisms of local governments through which tax breaks are used as bait to attract business), enterprise zones and brownfield areas. By doing this, he anticipates a stronger, more competitive economy.

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I envision, after a four-year term, hundreds of millions of dollars in new investment in Illinois, a more competitive Illinois and the creation of thousands of new and better jobs for Illinois residents, Genova said. Thats my vision:a proactive treasurer’s office versus a lax investment policy.

McLaughlin was not available for comment, but similarly opposes Topinka’s decisions regarding linked deposits.

In response to these charges, Topinka railed against Genova’s lack of knowledge and experience with state investment policy. She argues the Calumet City mayor does not fully understand the dynamics of the issue and subsequently has forwarded untenable proposals. Topinka acknowledges her investment decisions but said linked deposits are difficult to retain because financial institutions recently have shied away from these investments.

They’re argument is bogus, Topinka said. They’re mayors. They’re very regional in their approach.

Its hard for them to understand this.

Topinka also criticized Genova’s plan to bring the pre-paid tuition program under the control of the treasurer’s office. Countering Genova’s argument that the program lacks the full faith and credit from the state, Topinka contends it has been running efficiently, and even if the treasurer were to obtain authority, it would be too costly. Genova argues the transition must be made in order to ensure the plan’s benefits.

Topinka’s push to merge the treasurer’s office with that of the comptroller also came under fire, as Genova demanded the state proceed very cautiously with the plan. He is dubious about the merger because it eliminates the necessary checks and balances required to ensure fair auditing practices.

Topinka is the loudest proponent of the bi-partisan initiative, currently on the House floor. She maintains a merger would save the state about $10 million to $12 million, $3 million of which would come from the treasurer’s office.

It has to happen now, she said.