Chief Financial Officer

Department/Agency of position: 
Shelby County Schools Staffing Department
Location of position: 
Memphis, TN
Wage/Salary: 
$130,000 – 173,100/year
Date Posted: 
Friday, June 21, 2019
Closing Date: 
Sunday, July 21, 2019
Job Description: 

Purpose and Scope: Chief Financial Officer (CFO) is the strategic financial leader to ensure that the District’s financial resources are used to support academic achievement and the District’s strategic goals and priorities. The CFO leads, plans, organizes, directs, and coordinates the financial functions of the District, including accounting, account payable, budget, cash management, financial reporting and planning, payroll, and special projects. Also, s/he leads, plans, directs, and coordinates activities related to daily financial operations of the School District, including coordinating with grant and fiscal managers across the district around reporting, compliance, and management. The CFO oversees the District’s entire $1.6 billion budget, including the development and management of long-term financial strategy. The CFO leads the development, preparation and administration of the annual comprehensive financial report, annual district budget, student-based budget (SBB) and other programs, including monitoring and analyzing expenditures and revenues in accordance with local, state and federal laws, rules and policies. S/he develops comprehensive policies and programs to ensure that the financial operations are consistent with the District’s mission and compliance with local, state, and federal laws, rules, and policies.

Essential Job Functions:

  1. Lead, plan, organize, direct, and coordinate the financial functions of the District, including accounting, account payable, budget, cash management, fiscal grant management, financial reporting and planning, payroll, and special projects.
  2. Review existing policies and operations and develop new policies and operations to strengthen and enhance the financial activities of the District.
  3. Lead staff establishing standards and effectively select, train, motivate, delegate, monitor, and evaluate performance to ensure targets and goals are met. Facilitates professional development and serves as coach and mentor.
  4. Participate in and assist the Deputy Superintendent and Superintendent with the development of legislation relating to financial matters of the District.
  5. Participate in School Board, County Commission, and other Governmental meetings and advise the Deputy Superintendent, Superintendent and Board of Education on financial and related matters.
  6. Align the Finance function with the district's overall strategic plan. 

Ensure the district has a long-term financial plan to actively manage its expenditures and prioritize resources towards those most correlated with student achievement.

  1. Drive student-based budgeting (SBB) and school strategic planning process to ensure that students’ needs are being met and funding inequities are being addressed.
  2. Prepare the District’s Comprehensive Annual Financial Report in accordance with ASBO and GFOA criteria; submits the Annual Financial Report to the State of Tennessee by August 31.
  3. Oversee payroll activities of the district. Ensure that payroll is delivered in compliance with applicable state and federal laws and regulations and in a timely manner.
  4. Ensure that the Accounts Payable Office processes and pay all approved invoices.
  5. Develop, presents and defends budget requirements for area; oversees and approves expenditures, and prepares financial forms and reports.
  6. Ensure the accounting of all the school district's assets, liabilities, fund balance reserves, revenues and expenditures; oversees review of the financial status of district's sites, functions, projects, funds, in addition to debt service and fixed assets.
  7. Lead payroll operations with other accounting and data processing units, confer with other administrative and technical staff regarding changes and new systems, and participate in developing, implementing, and testing procedures.
  8. Oversee cash management, investments and banking transactions.
  9. Direct all budget control functions within the district, including budget planning, budget preparation, and budget presentation.
  10. Lead the development of the SCS annual operating budget, including presenting budget and financial materials to the Shelby County Commission and Shelby County Board of Education as needed
  11. Design, coordinate, implement, and maintain processes, systems and procedures for budget compliance related to position control/FTE monitoring.
  12. Lead the budget alignment with district goals and strategic commitments (e.g. Five-Year Strategic Plan) by supporting informed budget decisions (utilization of strategies, problem-solving, fund utilization, program evaluation, etc.).
  13. Ensure accurate and timely financial reporting on a monthly, quarterly, and annual basis to internal and external users in accordance with generally accepted accounting standards (GAAP), governmental standards (GASB), and financial standards (FAS) and (SAS); provides the annual state and federal financial reporting including charter schools.
  14. Provide the financial forecasts of the general operating fund revenues and expenditures.
  15. Lead the district's external audits; assists departments in establishing, developing, implementing and testing internal controls and procedures.
  16. Oversee the preparation and maintenance of a variety of narrative and statistical reports, records, correspondence, and files related to assigned service, activities, and operations; provides for appropriate research and compiles reports, as needed.
  17. Perform related responsibilities as required or directed.

Minimum Qualifications: Graduation from an accredited college or university with a Master's Degree in Business Administration, Management, Finance, Public Administration or related field. Ten (10) years of experience in a top financial position in a corporate or public sector environment directing the fiscal operations of a sophisticated, multi-unit company, with a track record of responsible financial management. Certified Public Accountant (CPA) license or equivalent is required. Experience in a school district or local government setting is preferred.

Degree Equivalency Formula: Bachelor’s Degree= 4 years plus required years of experience. Master’s Degree= 2 years plus required years of experience. Where Master’s degrees are required, years for Bachelor’s Degrees must be included.