Director of Finance

City of Red Oak • Full-time • Red Oak, Texas, United States • $170k - $205k / year • 4d ago

The Director of Finance oversees the municipality's financial operations, ensuring sound financial management and compliance with state and federal regulations. This position is responsible for budget preparation, financial reporting, accounting, purchasing, utility billing, investment activities, and municipal court. The Director of Finance provides strategic financial advice to the City Manager, Deputy City Manager, and City Council to support decision-making processes.

Primary Duties & Responsibilities

Oversee the preparation, accuracy, and timeliness of the City’s financial reports, including the Annual Comprehensive Financial Report (ACFR).
Ensure the City's accounting practices adhere to Generally Accepted Accounting Principles (GAAP) and other regulatory requirements.
Supervise and direct the preparation of monthly, quarterly, and annual financial statements and reports for internal and external stakeholders.
Ensure that accounting records and statements are complete, accurate, and reflect the City's financial position and performance.
Develop, implement, and manage the City's budgeting process, ensuring accounting procedures align with fiscal goals.
Collaborate with department heads to ensure budget adherence and provide guidance on financial decisions to ensure sound fiscal practices.
Establish and maintain effective internal controls over financial reporting and accounting procedures to prevent errors or fraud.
Ensure compliance with all local, state, and federal regulations and standards regarding municipal finance and accounting.
Lead efforts to continuously assess and improve internal control systems to mitigate financial risk.
Oversee the maintenance and accuracy of the general ledger, ensuring all financial transactions are appropriately recorded and classified.
Ensure proper maintenance and functionality of the City's accounting system, including a chart of accounts, and implement necessary improvements.
Coordinate and oversee the timely and accurate reconciliation of all general ledger accounts.
Lead and coordinate the City’s annual audit process, working closely with external auditors to ensure a smooth and timely audit.
Ensure all audit findings and recommendations are addressed and necessary corrective actions are implemented.
Prepare schedules and documentation for audits and reviews to ensure transparency and compliance with accounting standards.
Oversee the City's cash flow management, ensuring efficient accounting procedures related to receipts, disbursements, and investment income.
Ensure proper accounting of the City's cash and cash equivalents, including bank account reconciliations.
Monitor and analyze financial data to provide insight into the City’s financial position and recommend adjustments to improve fiscal health.
Ensure timely and accurate filing of all tax-related documents, including federal, state, and local tax returns, in accordance with relevant tax regulations.
Oversee the calculation, reporting, and compliance with the City's payroll taxes, property taxes, and other tax obligations.
Manage the accounting and reporting related to the City’s debt obligations, including bonds, loans, and other financial instruments.
Ensure accurate debt servicing records, principal and interest payments, and compliance with debt covenants.
Ensure that all procurement activities are aligned with established accounting policies and that expenditures are recorded appropriately in the financial system.
Review and monitor financial aspects of contracts to ensure compliance with budgetary constraints and accurate reporting.
Supervise the accounting department’s daily operations, ensuring the team follows proper procedures and accounting standards.
Provide ongoing training and development for accounting staff to maintain compliance with current accounting standards and best practices.
Perform financial analysis of operational and capital expenditures to provide the City leadership with actionable insights.
Provide clear and accurate financial guidance to the City Manager, City Council, and other stakeholders regarding accounting policies, fiscal responsibility, and financial reporting.
Maintain regular attendance at work and City Council meetings.
Represent the City professionally and appropriately at all times.
Perform related duties as assigned or required by the supervisor.

Qualifications:

Bachelor’s degree in Accounting, Finance, Business Administration, Public Administration, or a related field.
At least seven (7) years of progressively responsible experience in municipal finance, accounting, or a related field, with at least five (5) years in a leadership or management role.

Preferred Qualifications:

Master’s degree in Accounting, Finance, Public Administration, Business Administration, or a related field.
Certified Public Accountant (CPA), Certified Public Finance Officer (CPFO), or Certified Government Finance Officer (CGFO) designation.
Experience in a fast-growing municipality or managing financial aspects of economic development projects.

CERTIFICATIONS & LICENSES

Valid Texas Class C Driver's License with a clean driving record

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