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Building the Next Finance Director

Building the Next Finance Director. Diane Reichard, City of Temple Terrace Mark Fostier, Orange County Comptroller’s Office Binh Nguyen, Lake County BCC Jamie Roberson, Osceola County – Property Appraiser Mary-Lou Pickles, St. Johns River Management District.

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Building the Next Finance Director

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  1. Building the Next Finance Director • Diane Reichard, City of Temple Terrace • Mark Fostier, Orange County Comptroller’s Office • Binh Nguyen, Lake County BCC • Jamie Roberson, Osceola County – Property Appraiser • Mary-Lou Pickles, St. Johns River Management District

  2. City Manager Qualifications in a Finance Director • Technically qualified and accurate • Objective • Provide clear and concise communication • Be flexible and compromisable • Globally focused • Honest and up front • Sense of humor

  3. CFO Skill Set • Strategist • Translator • Leader • Technical Generalist • Facilitator

  4. Strategist • Understand problems and their implications • View organization at the 10,000 foot level • Consider other alternatives • Take on new projects, be a go-to person

  5. Translator • Use performance measures to provide information to CEO • Be a good listener • Enhance critical thinking that leads to consensus • Align solution with CEO’s strategy

  6. Leader • Motivate people • Improve interpersonal communications • “Motivation is the art of getting people to do what you want them to do because they want to do it.“ – Dwight Eisenhower

  7. Technical Generalist • Expand knowledge to know a little bit about a lot • Know when and how to ask questions • “Knowledge is of two kinds; we know a subject ourselves, or we know where we can find information upon it.” – Samuel Johnson

  8. Facilitator • Good ideas come to die in accounting • Be a proactive problem solver • Respect others and their ideas

  9. FGFOA Mentoring Program • A Case Study

  10. FGFOA Mentoring Work Plan • Strategic Goal • Objectives • Actions

  11. Strategic Goal • To be a Finance Director for a city or county government

  12. Objectives • Increase governmental accounting and finance knowledge through job shadowing opportunities and additional education and certification • Expand professional contacts and networking opportunities to broaden information sharing possibilities • Increase participation in FGFOA and the Central Florida Chapter

  13. Actions • Participate in job shadowing opportunities with the Comptroller’s Office in the following functional areas: • Accounting (general ledger/budgetary accounting; CAFR preparation; grants accounting; MSTU accounting) • Treasury (investments; cash management; debt issuance and administration)

  14. Actions(Continued) • Participate in job shadowing opportunities with the Comptroller’s Office in the following functional areas: • Accounts Payable (preaudit function; quality control; contracts administration) • Payroll (preaudit function; union contract administration; benefits administration) • Information Systems – Advantage Financial System and Oracle/PeopleSoft HRIS (functional responsibilities; system upgrades and support; system implementation)

  15. Actions (Continued) • Complete a college level governmental accounting course • Obtain GFOA’s CPFO certification • Pursue becoming the 2012 FGFOA Conference Host Committee Chair • Serve on an FGFOA committee each year with the intent of serving two years and becoming the Chair in the third year • Serve as a Director of the Central Florida Chapter • Serve as a Director of the FGFOA

  16. Preparation • Prepared well for all job shadowing opportunities • Preparation in relation to CFO Skill as a Technical Generalist

  17. Get Involved • Networking in relation to CFO Skill as a Facilitator • Volunteer with professional organizations

  18. Motivation • Planning and organization are important management skills • Self motivation is a crucial skill for success

  19. Strategist • Special Projects • Learn other aspects of your organization • Don’t limit yourself to the financial function

  20. Translator • Special Projects • Translation of strategy into a measurable and accountable plan

  21. Leader • Motivation of the stakeholders • Understanding the stakeholders in the organization both external and internal and having the ability to motivate them

  22. Technical Generalist • Specialization vs. experience in various functions of the organization • Do not limit yourself solely to the numbers. All functions within an organization impact the numbers. If you understand various aspects of the organization, it will allow you to become a better CFO or Finance Director

  23. Facilitator • Finance Office deemed as ‘gloom & doom’

  24. CFO Skill Set • Strategist • Translator • Leader • Technical Generalist • Facilitator

  25. Closing Thoughts • Curiosity and Opportunity have No Limits! • Edison said – Good things happen when opportunity meets a prepared mind.

  26. …And also Opening Thoughts • Edison said – Good things happen when opportunity meets a prepared mind. • Can’t be satisfied with the status quo • The CGFO program provides career-building value

  27. CGFO Background Information • The original examination was purchased from the Government Finance Officers Association of Texas in 1990 • The first CGFO examination was given in the early 1990s

  28. CGFO Certification Committee • Evaluates and administers the semi-annual certification examinations • Monitors requirements for reporting continuing professional education • Future projects include exploring on-line feasibility for review courses and exams

  29. CGFO Program Purpose • Encourage a level of knowledge and professionalism in the field of government finance • Encourage development and maintenance of professional competence for practicing governmental finance officers

  30. Minimum Qualifications • Active FGFOA member • Bachelor’s degree in accounting, public or business administration or a closely related field • Three years government work experience • Two letters of recommendation • Accept the FGFOA Code of Ethics

  31. Achieving Your CGFO Designation • Pass* an open book Ethics Exam • Pass* all five sections of the CGFO examination in five years • * Achieve a minimum score of 75 percent • .

  32. CGFO Exam Preparation • Review Sessions - Offered at the School of Governmental Finance • Strategies • Reference Materials • http://www.fgfoa.org/CGFOprogram

  33. CGFO Examinations • Are offered twice a year in November at the School of Governmental Finance and in the spring (usually in March) at various locations throughout the state depending on demand • .

  34. CGFO Examination Contents – Accounting & Financial Reporting .

  35. CGFO Examination Contents – Debt Administration .

  36. CGFO Examination Contents – Financial Administration .

  37. CGFO Examination Contents – Municipal Budgeting .

  38. CGFO Examination Contents – Treasury Management .

  39. How does the CGFO Designation Benefit YOU? • You will distinguish yourself as a business professional who is committed to a strict code of ethics • You will demonstrate your commitment to personal professional development and lifelong learning

  40. How does the CGFO Designation Benefit YOU? • You will confirm substantial knowledge of accounting, finance, and important related fields specific to local governments • Opportunity to assess and demonstrate your capabilities and expand your knowledge base

  41. How does the CGFO Designation Benefit YOU? • Recognition of achievement • Expanded career opportunities • Personal Satisfaction • Enhance your self-confidence, your sense of accomplishment, and your resume

  42. What are you waiting for? • Take the Challenge! • “Every mountain top is within reach if you just keep climbing” – Barry Finlay • “All of life is a constant education” – Eleanor Roosevelt

  43. CGFO Program • Questions? • Additional Information • www.fgfoa.org • mpickles@sjrwmd.com

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