04/06/1999 Meeting Minutes - Laserfiche WebLink

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Council Minutes of 4/6/99 • Benefits of creating this position focused on specific relevant issues which were categorized into two major financial goals that she felt were critical to the present and future success of our city: 1. Provide adequate controls that safeguard our assets. 2. Analyze and improve processes that will provide the most efficient use of our limited resources. • The person envisioned in this proposal was one with a 4 year accounting or finance degree and 4-6 years experience in government accounting in another entity and/or auditing of such entities. • Included also was a detailed structure comparison to other communities' finance departments including questions on education and salary ranges. Most cities had between 5-11 employees in their finance department. Our city currently has six including the director. The Finance Director believes Council could see the benefits of this position as presented along with knowledge that Mr. Burns, the former Director of Finance, the Auditor of State's office, our Director of Law, our Bond Counsel and Investment Banker had expressed on numerous occasions over time the importance and need of this position. The appropriate salary was another issue in itself. Thirty-five thousand dollars was the maximum salary a majority of Council could agree to despite the following facts to support her position that she felt a fair salary range based on a review of the market sources of potential candidates was between $45,000 - $60,000, with reasonably expecting to be able to hire someone in the low to mid $50,000's. This decision was based on the following considerations: • A survey of other communities -The salary range of Assistant Directors, for those who had ranges regardless of if they were required or did hold a degree, was from the mid-thirties to the mid-sixties, with most falling into the $40,000 - $63,000 range. • Our own Bookkeeper Level A union position that has no such college degree requirement will make nearly $34,000 in 1999. • She obtained the Robert Half Salary Guide for 1999. Robert Half recruits accounting professionals and private sector Assistant Controllers/Assistant Treasurers for companies within the $10-50 million of revenue range, average between $46,750 - $59,500 with an 10% added for a person with a CPA and another 10% for a person with a graduate degree. • The Big Four accounting firms have an entry level rate, out of college with no practical experience, of $35,000. They also have more than cost of living adjustment raises from year to year. • The Auditor of State Assistant Auditors can start anywhere between $28,226 and $37,710. The Auditor in Charge category, which has 3-5 years of experience, can be paid anywhere from $37,211 to $65, 582. Most with that experience level were within the $48,000 to $55,000 range. • Additionally, comparing to fit into our city's non-bargaining pay ordinance structure, she feels the position is diminished when comparing it to a similar profession such as the Assistant Engineer's position ranging from $44,275 and $64, 278. Also, she feels 3