For those of you subscribed to the ‘Chester Recovery Reality Network,’ one of the latest episodes involved the hiring (or contracting) of a Deputy Chief Financial Officer.
In the copy of the recovery plan I have (that may have been amended but no one seems to know for sure), it calls for a Deputy CFO because…
The City’s weak and infrequent financial reporting and poor audit preparation have delayed bond refinancing and put a Tax Revenue Anticipation Note at risk of default. Chester’s financial reporting procedures need to be improved, review needs to occur often and be regularly recurring, staff needs additional training for audit preparation, and the City has an immediate need for technical assistance in its Accounts and Finance Department. (page 22 if you’re reading along at home)
I heard about this new hire about 6 weeks ago but I thought it polite to wait for the official press release from the City before I start spouting off at the keyboard. I’m sort of convinced there won’t be a press release released at this point but I still think y’all should know what’s going on.
According to the recovery plan (page 22 again), the job pays up to $80,000 for each of the two years the recovery people recommend this position exist. RELAX…the money isn’t coming out of the City budget. The State has squirrel away the money to pay for this position.
The good news is that the City couldn’t have found a better person for the job. I would go so far as to say it’s the best hire this administration has ever made. Hopefully, she’ll do such a great job that she’d consider staying on full time when her contract is complete.