Chief Financial Officer
Reporting to the City Manager, the CFO oversees and coordinates the entire finance function, including Accounting, Payroll, Purchasing, Utility Billing, Collections, and Information Technology. The CFO must ensure the City complies with generally accepted accounting principles and disburse all funds in strict compliance with the Local Government Budget and Fiscal Control Act. The CFO is also responsible for efficiently procuring goods and services to support City activities, preparing statements of financial condition, supervising the receipt, deposit, and investment of City funds, and maintaining records concerning bonded debt and other obligations of the City.
The CFO will assist in developing and monitoring the City’s budget. The recently adopted FY 24-25 budget (Download PDF reader) of $178.4M, which is supported by a tax rate of $.5178 per $100 of assessed tax value, includes:
General Fund: $72.8M
Electric: $55.7M
Water & Sewer Fund: $31.6M
The CFO oversees 13 staff members, including four direct reports: Assistant Finance Director, Customer Service Manager/Revenue Officer, and Purchasing Agent. The next CFO will join a nationally recognized municipality. For over 20 consecutive years, the City of Statesville has been awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). Statesville is proud to have also been awarded the GFOA Distinguished Budget Presentation award for its annual budget for the 23rd consecutive year.
Following the adoption of a new capital plan and considerations for using debt to finance more infrastructure, the next CFO will effectively guide staff and the Council through implementing a new approach and processes. Additionally, the CFO will collaborate frequently with key stakeholders, including but not limited to City leadership, Council, financial advisors, Bond Attorneys, and community members, especially regarding the City’s first upcoming bond rating process and the computation and explanation of revenue-neutral tax calculations.
The ideal candidate will have experience working for municipalities that manage their own utilities. Statesville’s electric utility uses Federal Energy Regulatory Commission (“FERC”) accounting. The new CFO needs to either have knowledge of or the capacity to learn the differences between a FERC chart of accounts and traditional government enterprise accounting in order to assess the pros and cons of changing the accounting methods for the electric utility.
KEY POSIITON PRIORITIES:
- Strategically address career succession and implement innovation in career development – showcasing a commitment to continued training and professional development for staff in order to build skills, achieve performance excellence, and develop staff for promotional opportunities and varied job assignments.
- Thoroughly assess the functions and staffing within the organization – evaluating effectiveness, accuracy, and efficiency in service delivery; recommend and implement changes to support centralizing administrative work and increasing service delivery while building a culture of finance professionals with strong morale and a desire for growth.
- Expand the use of existing technology to improve department performance and workflows and oversee training and compliance of the systems while ensuring that improvements of technology are integrated with any updates to policies and procedures.
- Facilitate education and understanding of financial policies and procedures within the department and across the organization to build skills and improve efficiency while balancing the management of accounting funds, navigating federal, state, and private funding requirements, and ensuring compliance and adherence to deadlines across the department.
- Work collaboratively with City leaders in strategically planning for growth within the department to align with and support the City’s vision, strategic plan, and future growth priorities.
QUALIFICATIONS:
- Bachelor’s degree in finance, accounting, or related field. CPA and/or MBA preferred. Five years of progressive leadership experience in governmental finance or organization-wide financial management, including two years of supervisory experience. An equivalent combination of education, training and experience will be considered. North Carolina Local Government Finance Officers Certification is required within one year of hire, contingent upon the availability of the courses. Must have the ability to be bonded and possess a valid driver’s license in the State of North Carolina.
THE SUCCESSFUL CANDIDATE:
- is a tech-savvy leader with prior experience assessing and facilitating financial software system upgrades and ongoing implementation.
- has an understanding of federal and state grants, the variety of grantor requirements and regulations, and the facets of grant reporting.
- will evaluate opportunities to decentralize duties among the departments while ensuring responsible internal controls and collaborative partnerships and recognizing opportunities to centralize duties where appropriate.
- develops effective audit preparation skills in-house or collaborates with a contractor to support the preparation of financial statements.
- models a positive and enthusiastic approach that builds confidence within the Finance Department and encourages the building of productive relationships within and outside the department.
- is a responsive, detailed, and deadline-oriented professional who continuously improves customer service in a service-driven organization and develops and engages staff to deliver excellent customer service to both internal and external customers.
- creates a framework for facilitating departmental information needs to meet financial reporting requirements without a restrictive and punitive “compliance mindset;”
- strives for effective outcomes by being a results-oriented project manager who incorporates the input of multiple stakeholders and collaborates proactively to develop policies and procedures, solve problems, and manage financial resources.
- demonstrates extensive knowledge and application of NC General Statutes, the principles and practices of the general fund and local governmental accounting, the preparation of internal financial statements and complex external financial reports, including the Comprehensive Annual Financial Report and other required regulatory reports, the principles and practices of cost and fixed asset accounting, grants management and compliance, internal controls and audit principles and practices, and of the principles and practice of municipal budgeting, capital improvement budgets, and funding, forecasting and financial modeling;
- creatively assesses ways to increase revenue and manage expenses in a resource-restricted environment.
- develops and applies performance measurement metrics to evaluate progress and increase accountability for goal achievement with a high attention to detail.
- communicates excellently one-on-one, in small groups, and in public speaking to make complex financial topics understandable to community members, staff and Council; and,
- advocates for best practices and confidently and persuasively present options to the City Manager management team and the City Council.