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District of Columbia Chief Financial Officer

OPEN:    February 18, 2021

CLOSE:   Open until filled

POSITION:   District of Columbia Chief Financial Officer

SALARY:   $218,126 to $254,000

Domicile Requirement: There is a legal requirement that each new appointee to the Excepted and Executive Service either: (1) be domiciled in the District of Columbia at the time of appointment; or (2) establish District domicile within one hundred eighty (180) days of appointment.  The law also requires that Excepted and Executive Service employees maintain District domicile during the period of the appointment.  Failure to maintain District domicile during the period of the appointment will result in forfeiture of employment.

The Office of the Chief Financial Officer provides enhanced fiscal and financial stability, accountability, and integrity for the Government of the District of Columbia. The OCFO ensures that District spending levels remain within approved budgets and available revenues for each fiscal year, so that spending deficits do not occur; maintains adequate cash balances; minimizes receivables balances; manages the District’s debt and finances in a manner that provides optimal opportunities to maximize bond ratings and minimize the cost of borrowed capital; ensures that the ratio of total debt service to General Fund expenditures remains within a maximum of 12 percent; improves tax payment compliance by increasing collections from the accounts receivable balance and the non-filer population, as measured by percentage change in delinquent collections; develops and supports financial management systems that provide accurate and timely information; and produces the District's Comprehensive Annual Financial Report (CAFR) on time with an unqualified (clean) opinion.

    To learn more about OCFO, please visit here.

     

    Chief Financial Officer of the District of Columbia.

    The CFO is appointed by the Mayor and confirmed by the Council of the District of Columbia to a 5 year term.  The CFO manages the District’s financial operations, which includes some 875 staff members in tax and revenue administration; the treasury, comptroller and budget offices; economic/fiscal analysis and revenue estimation functions; agency financial operations; and the DC Lottery. The incumbent also works closely with congressional committees that oversee District affairs, as well as U.S. Office of Management and Budget staff. The incumbent  also interacts regularly with the Wall Street financial community, including rating agencies, regarding the District’s financial matters.

     

    MAJOR DUTIES

    The Chief Financial Officer  is responsible for:

    • Overseeing  and providing direct supervision of the financial and budgetary functions of the District government.
    • Overseeing and operating and maintaining a coordinated financial management system to budget, collect, control, and properly account for more than $7 billion in annual operating and capital funds
    • Overseeing and preparing the city's annual budget, representing the District in the federal appropriations process, and monitoring budget performance during the fiscal year
    • Overseeing and preparing plans for borrowing on behalf of the District, collecting receipts, payments, and transactions for the District, and investing the city's funds
    • Overseeing and administering and enforcing the District's tax laws, collecting revenue for the city, and recording deeds and other written instruments affecting a right, title, or interest in real or personal property in the District.
    • Overseeing and developing, implementing and monitoring the District's accounting policies and systems and producing the audited Comprehensive Annual Financial Report for the city
    • Overseeing and forecasting revenue for the District government, developing fiscal impact statements for proposed legislation, performing tax expenditure analysis, and providing advice on economic development matters.

     

    QUALIFICATIONS AND REQUIREMENTS:

    • Master’s degree in Public Administration, Public Policy, Business, Finance or Economics is preferred;
    • At least ten (10) years of experience with budget and finance at a senior executive level;
    • Documented experience and expertise in managing complex budgets, including municipal, state or federal budgets.
    • Documented experience overseeing and operating and maintaining a coordinated financial management system to budget, collect, control, and properly account for more than $7 billion in annual operating and capital funds
    • Documented experience overseeing and preparing the city's annual budget, representing the municipal or state governments in the federal appropriations process, and monitoring budget performance during the fiscal year
    • Documented experience overseeing and preparing plans for borrowing on behalf of municipal or state governments collecting receipts, payments, and transactions for the municipal or state governments, and investing the municipal or state governments funds
    • Documented experience overseeing and administering and enforcing the municipal or state governments tax laws, collecting revenue for the municipal or state governments, and recording deeds and other written instruments affecting a right, title, or interest in real or personal property in the municipality.
    • Documented experience overseeing and developing, implementing and monitoring municipal or state governments accounting policies and systems and producing the audited Comprehensive Annual Financial Report for the city
    • Documented experience overseeing and forecasting revenue for municipal or state governments, developing fiscal impact statements for proposed legislation, performing tax expenditure analysis, and providing advice on economic development matters.

     

     

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