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Loveland, Colorado

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Chief Financial Officer – Loveland, Colorado

 

The Position

The City of Loveland’s Chief Financial Officer (CFO) advises the City Manager, is a key player in large public-private partnerships and economic development, supports departments in their efforts to achieve the City Council’s and organizational goals, and oversees a competent, dedicated staff in the Finance Department. Loveland is a cultural hub in northern Colorado and is known for its nearly 500 pieces of public art and world-famous Valentine Remail Program. The City enjoys a low unemployment rate, high quality of life, and exceptional outdoor recreational opportunities. The City was included in Livability’s list of the Top 100 Best Places to Live in 2016.

The CFO reports directly to the City Manager and establishes departmental goals and priorities, manages the City’s budget, and recommends policy related to Finance Programs. The CFO oversees all financial functions in the City, including revenue, internal audit, budget, accounting, payroll, purchasing, financial reporting, debt issuance and investments. The CFO will oversee seven direct reports, including an Executive Assistant, Executive Fiscal Advisor, and the managers of these divisions: Accounting, Purchasing, Budget, Revenue (Sales Tax), and Utility Billing and Meter Reading. The City’s Finance Department has been awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) every year since 1980. Because of the City’s sound fiscal management, long-term financial planning, economic growth, and use of innovative financing tools and public-private partnerships, the Loveland General Fund has operated without any general obligation debt.

The Organization

The City of Loveland operates under the Council-Manager form of government, with a City Manager overseeing all personnel and the day-to-day operations of the City. The City Council is a nine-member policy-making board that serves as the City’s legislative body, with eight members of Council who are elected by Wards and serve four-year terms. The Council is led by the Mayor, who is elected by the community on at large basis to serve two-year terms.

Loveland is a full-service city, providing its residents with Parks and Recreation, Cemetery, Police, Library, Planning, Code Enforcement, Permitting, Power (electric), Municipal Fiber, Water, Wastewater, Economic Development, Finance, Human Resources, Information Technology, Municipal Court, and Cultural services. Larimer County provides landfill services, and the Larimer Humane Society provides the City with animal control services. The Loveland Fire and Rescue Authority is independent with an intergovernmental agreement between the City and the Loveland Rural Fire Protection District. The Authority is governed by a board consisting of representatives from both the City and the district, and it receives a majority of funding from the City. The Northern Colorado Regional Airport is located in Loveland along Interstate 25 and is publicly owned and operated by the City of Loveland and the City of Fort Collins.

Major initiatives

A major initiative for the City is the installation and operation of a municipal high speed fiber utility. Over the next several years, the broadband network, which will provide high-speed internet to residents, will be built and pass in front of every home and business within the City of Loveland. Residents will have the option to subscribe to the City’s high speed fiber utility or stay with their current provider. With advice and support from the CFO, the City’s Electric and Communication Enterprise will issue and sell $97 million in revenue bonds to finance the construction of the City’s broadband system. The City selected J.P. Morgan as the senior managing underwriter for the high speed municipal fiber utility project. The bond sale is expected to be completed between mid-February to March of 2019.

The City of Loveland will be moving to a new Windows-based Customer Information System (CIS) soon. The City’s CIS Vendor is Advanced Utility Systems, and it uses a software brand called Infinity. The City is currently studying a possible time specific sales tax associated with community infrastructure amenities.

City Budget

The City of Loveland employs approximately 844 FTEs. The City’s FY 2019 all funds budget is $385,723,998. The following table outlines the budget by category.

Fund Total
Enterprise Funds $199,046,693
Internal Services Funds $28,203,300
Special Revenue Funds $49,993,877
General Fund $102,299,571
Other Governmental Funds $6,180,557

The Department

The Finance Department has 42.75 FTEs and an FY 2019 total all funds budget of $5,795,486. The Executive Fiscal Advisor reports directly to the CFO and is responsible for all bonding, lease certificates of participation (COPs), development and redevelopment financing, joint projects, and investments.

The Finance Department includes the Administration, Accounting and Purchasing, Budget, Revenue (Sales Tax), and Utility Billing and Meter Reading divisions. The department produces the Comprehensive Annual Financial Report (CAFR), the Annual Budget, long-range financial plans, monthly financial reports, and quarterly summary reports. The department also coordinates the development of the Capital Program and the Ten-Year Financial Master Plan and administers state and federal grants. The responsibilities of each division are outlined below.

  • Administration: This division coordinates the financial support services provided by the Finance Department and develops financial planning tools to guide resource allocation decisions.
  • Accounting and Purchasing: Accounting is responsible for the disbursement of City funds and for providing accurate, timely, and informative financial information to a variety of users. This division prepares the CAFR. The Purchasing Division maintains proper policies and internal controls to maximize the purchasing value of public funds, foster effective competition within the free enterprise system, and provide safeguards to maintain a procurement system of quality and integrity. The City uses both a centralized and decentralized procurement system – the centralized system is used by the Purchasing Division to procure common inventory items stored in the warehouse, while the decentralized system is used by City departments to procure services and supplies unavailable in the warehouse.
  • Budget: This division is responsible for the preparation, implementation, and oversight of the City’s annual budget; this includes providing revenue and expenditure forecasting, personnel budgeting, and financial analysis services to support effective budgetary and resource allocation decision making.
  • Revenue (Sales Tax): This division is responsible for licensing, collection, and enforcing the City’s sales tax ordinance for each retail business located inside the City of Loveland, as well as numerous businesses located outside the City that conduct business in Loveland. The division is also responsible for enforcing building, auto use, and lodging tax.
  • Utility Billing and Meter Reading: This division provides utility bills to over 38,000 accounts each month. Utility Billing also responds to customers’ requests for connects and disconnects of City utility service, billing questions, and delinquency and collection-related issues, and processes utility bill payments. Meter Reading is responsible for manually reading over 35,400 electric meters and 26,100 water meters monthly.

The Ideal Candidate

The City of Loveland’s ideal Chief Financial Officer is an experienced financial leader with a comprehensive understanding of bonding, leasing, and financing major municipal projects. This candidate is a change management practitioner, with the ability to run a full-service Finance Department and serve as the financial advisor to the City’s Executive Leadership Team. Loveland’s next CFO has a strong customer service orientation and superior leadership skills and is willing to go the extra mile to ensure that the City remains fiscally sound. He or she is a champion of continuous improvement and always takes into consideration the long-term ramifications of financial programs and policies. The ideal candidate may be a finance or budget director, assistant director in a larger organization, CFO, or assistant or city/county manager with strong financial skills. The CFO will be able to develop and mentor new and emerging leaders in the department, set the bar high for customer-oriented culture, forge strong partnerships with department directors and private and nonprofit partners, and keep the City’s long-term fiscal health on track.

As a member of the City’s Executive Leadership Team, the CFO will often act as an advisor on economic development projects and collaborate with other Department heads to solve organization-wide problems. This candidate is innovative, with great communication skills and considerable experience in public-private partnerships. The ideal CFO has a hands-on approach to leadership and will welcome the opportunity to shape and oversee numerous major public projects while caring for the City’s staff and resources.

Loveland is seeking a Chief Financial Officer with these traits:

  • High integrity
  • Customer-focused
  • Effective communicator
  • Strong leadership
  • Strategic thinker
  • Forward-thinking
  • Analytical and accurate
  • Collaborative and solution-oriented
  • Empathetic listener

Experience and Education

The minimum qualifications for this position are a bachelor’s degree in finance, accounting, business, public administration, or a related field. A minimum of seven years of progressive, relevant experience in a local government environment with five years of supervisory/managerial experience is also required. An equivalent combination of education and experience may substitute for education.

Preferred qualifications include a master’s degree, Certified Public Accountants or Certified Government Finance Officers designation. Knowledge and experience working with bond issuance, tax collection, investments, and debt management, as well as financing public-private projects, is also preferred. Experience with municipal utilities, sales tax, and state regulations such as TABOR are also preferred qualifications.

The Community

As the heart of northern Colorado, located just over 30 miles from Rocky Mountain National Park, Loveland is an ideal community for anyone to call home. Loveland’s education and income levels are above national averages with over 35% of residents reporting bachelor’s degrees or higher, and the community has received many awards and recognitions for its quality of life. Northern Colorado is equal to Denver in its net migration of millennials and boomers to the area. The community is located approximately 60 minutes north of downtown Denver on the I-25 Corridor and 25 minutes south of Fort Collins, two of Colorado’s largest cities. Nicknamed “The Sweetheart City,” Loveland is world famous for its Valentine Remailing Program. On Valentine’s Day for the past 73 years, the Loveland Chamber of Commerce and local post office have teamed together to re-mail thousands of valentines from across the globe, each adorned with a unique stamp and poem designed by local artists.

Since the 1970s, Loveland has been a mecca for artists. Loveland’s affection for art is evident everywhere. With 1% of its revenue devoted to art throughout the community, you’ll find sculptures, galleries, and public art. John Villani’s fourth edition of “The 100 Best Art Towns in America” even ranked Loveland in the number two spot. With more than 200 sculptures, three annual art shows, two of North America’s largest foundries, and two sculpture parks, it is easy to understand why Loveland is a destination arts community.

Loveland is quickly growing into one of the major retail and financial centers of northern Colorado. Attractions within the community include a retail lifestyle center with more than 70 specialty shops and restaurants, the Budweiser Events Center, and other nearby retail and hotel complexes. Historic downtown Loveland also has an eclectic selection of boutiques, shops, and galleries and can boast about its newest 80-million-dollar development called the Foundry, which added a hotel, first-run boutique movie theatre, and housing.

Loveland offers a variety of indoor and outdoor activities enjoyable in every season. Parks and recreation facilities in Loveland include dozens of sports fields, an outdoor swimming pool, 27 playgrounds, 35 parks, and more than 5,000 acres of open space and natural areas. Additionally, the community enjoys award winning golf courses, numerous hiking and biking trails, and twelve different lakes, rivers, and outdoor swimming areas. With an average of 300 days of sunshine annually and low humidity, Loveland experiences pleasant weather year-round. Something is always happening in the community, from concerts, art and sculpture shows, theater productions, and professional hockey games to community celebrations.

Loveland is served by the Thompson School District, a leader in Colorado for K-12 education. There are many higher education institutions near Loveland, including the University of Colorado Boulder, the University of Northern Colorado in Greeley, Colorado State University in Fort Collins, and several community colleges.

Loveland was the first Hewlett Packard location outside of California and continues to provide a nice balance of high tech and manufacturing firms. The innovation factor is high with patents ranking annually in the top 50 cities in the U.S.

Quick Facts

  • Population: 75,840
  • Median Household Income: $72,922
  • Median Home Value: $381,079
  • Median Age: 40 years
  • Total Area: 35.60 square miles

Compensation

The salary range for this position is $118,000 – $189,000, depending on qualifications. The next Chief Financial Officer will also receive an excellent benefits package that includes access to a private health clinic for use by employees and their dependents only at no additional charge.

How to Apply

Apply Online

Applications will be accepted electronically by The Novak Consulting Group at thenovakconsultinggroup.com/jobs. Applicants first complete a brief online form and then are prompted to provide one document (Word or PDF) that contains a cover letter and resume with salary history. Open until filled with a first review of applications on March 15, 2019.

Questions

Please direct questions to Catherine Tuck Parrish at apply@thenovakconsultinggroup.com or 513-221-0500.

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