Chief Financial Officer

Job Description:

Chief Financial Officer

Description

This esteemed position is for the approachable, collaborative, and accountable leader eager to cultivate high morale among a team of skilled finance professionals. In addition to addressing the day-to-day operations of the finance department and overseeing and implementing the city’s budget development process, the City of Lexington’s next CFO will prioritize: 

• Strategically implement innovation in career development by showcasing a commitment to training and professional development for staff to build skills, achieve performance excellence, and develop staff for promotional opportunities and varied job assignments that ensure effective staff succession.
• Evaluate effectiveness, accuracy, and efficiency in staff service delivery; recommending and implementing changes to support centralizing administrative work and increasing service delivery within the department.
• Expand the use of existing technology to improve department performance and workflows, overseeing training and system compliance, and ensuring that technology improvements are integrated into policy and procedural updates.
• Facilitate education and understanding of financial policies and procedures within the department and across the organization to build skills and improve efficiency including accountability to laws, regulations, and deadlines.
• Increase grant funding to support large capital projects such as the rail system and the city’s aging infrastructure by establishing partnerships with state and federal grantor agencies and exploring opportunities to outsource grant writing to support further an efficient, productive work environment within the department.

Of utmost priority, Lexington’s next CFO must maintain the highest level of integrity, demonstrate the ability to make challenging decisions, and advocate for changes to ensure the protection and preservation of the city’s reputation, its strong financial position, and overall compliance.

About the Organization, Department and Position:

Operating under the Council-Manager form of government, the City of Lexington is governed by a nine-member City Council consisting of the mayor, two members elected at large, and six elected by wards.

Reporting to the City Manager, the CFO oversees and coordinates the entire finance function, including Accounting, Payroll, Purchasing, Capital Assets, and Budget. The CFO must ensure the city’s accounts comply 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, 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. Lexington’s FY 2024-2025 budget of $131M, which is supported by a tax rate of $.65 per $100 of assessed tax value, includes:

• General Fund: $38.4M
• Electric: $55.7M
• Gas: $15.6M
• Water & Wastewater Fund: $18M
• Stormwater Fund: $1.7M
• Golf Fund: $1.6M

Reporting to the City Manager, the CFO oversees nine staff, including three direct reports: Financial Services Manager (2), and Purchasing Officer.

Qualifications:

The following are required:

• A bachelor’s degree* in accounting, finance, business, public administration, or related field.
  • *Note: A master’s degree, NC Certified Public Finance Officer designation, and/or Certified Public Accountant (CPA) are preferred.
• 5 - 7 years of progressively responsible and broad-based professional experience managing financial and accounting functions for a local government or private industrial organization. An equivalent combination of education, training, and experience will be considered.
• NC Public Finance Officer Certification within one year of hire, contingent upon the availability of the courses.
• The ability to be bonded and possess a valid driver's license in NC.

 Salary and Benefits: The hiring range for the Chief Financial Officer is $128,000 - $150,000, depending on qualifications and experience. The City of Lexington provides a competitive benefits package, including health, dental, and vision insurance, a 401 (k), and participation in the NC Local Government Retirement System. Residency is NOT required for this position.

To apply, please visit https://www.governmentjobs.com/careers/developmentalassociates and click on the title of Chief Financial Officer – City of Lexington, NC. Please note the following:

• All applications must be submitted online via the Developmental Associates application portal (link above)—NOT the city's employment application portal or any other external website.
• Resumes and cover letters must be uploaded with the application.
• Applicants should apply by August 12, 2024.
• The Hiring Manager will invite successful semi-finalists to participate in virtual interviews and skill evaluation on September 10 - 11, 2024. Candidates are encouraged to reserve these dates for virtual meetings should they be invited to participate.
• Direct inquiries to hiring@developmentalassociates.com.

 The City of Lexington is an Equal Opportunity Employer. Developmental Associates, LLC manages the recruitment and selection process for this position. To learn more about our selection process, visit https://developmentalassociates.com/client-openings/ and scroll down to “Important Information for Applicants.”