Agenda Date: 01/14/2025
Subject:
Title
Interim Finance Department Leadership Plan
Body
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From: |
James L. Becklenberg, City Manager |
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Prepared by: |
James L. Becklenberg, City Manager |
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Presentations: |
Tiffany Hooten, Finance Director |
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Adrienne Burton, Interim Finance Director (Manager of Innovation and Performance Excellence) |
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Maria Ostrom, Consulting Finance Manager |
PURPOSE:
To inform the City Council of the interim leadership plan for the Finance Department following the upcoming departure of the Finance Director. This plan ensures continuity of operations and addresses key financial and regulatory responsibilities during the transition period.
LONG-TERM OUTCOME(S) SERVED:
High-Quality Governance
DISCUSSION:
Finance Director, Tiffany Hooten, will be departing the City of Littleton on January 17, 2025, after serving the community for 21 years. To manage the transition and maintain department operations, the city will engage a consultant Finance Manager, Maria Ostrom, under a professional services agreement. Maria brings over 20 years of financial experience working at all levels of Colorado local government, including services as Finance Director to several communities, and will oversee the continuity of critical financial operations during this transition. Additionally, Adrienne Burton, Manager of Innovation and Performance Excellence, will assume the role of Interim Finance Director to provide leadership, organizational support, and serve as a liaison with the City Manager’s Office, City Council, and other city departments. Over the next several months, the city will be actively managing recruitment processes for both the Finance Director and Deputy Finance Director roles to ensure the best candidates are selected to lead the department into the future.
Plan Details:
1. Consulting Finance Manager
Maria Ostrom will oversee critical financial operations, including:
o General ledger management and ERP troubleshooting.
o Month-end close processes, account reconciliations, and financial reporting.
o Coordination of the 2024 annual audit and preparation of the Annual Comprehensive Financial Report (ACFR).
o Oversight of regulatory reporting requirements and compliance.
o Staff supervision, training, and guidance for operational improvements.
The consultant will be present in-office weekly and have access to necessary City systems and equipment. The scope of services ensures key financial deliverables and deadlines are met during the interim period.
2. Interim Finance Director
Adrienne Burton will support the Finance Department in the following areas:
o Liaison Role: Acts as the primary connection between the finance department, other city departments, the City Manager's Office, and the City Council.
o Strategic Leadership: Provides strategic direction to the finance team.
o Team Support: Offers support to the consulting Finance Manager and finance staff. Ensures effective communication and coordination within the department. Addresses interdepartmental issues that may impact financial operations. Serves as an escalation point for challenges encountered by the finance team.
o Oversight of Deliverables: Monitors progress on key deliverables and ensures deadlines are met.
o Change Management: Support efforts to foster a culture of adaptability within the finance team during transition.
Together, this plan leverages expertise and continuity to address immediate needs while preparing for long-term departmental success.
BACKGROUND:
The Finance Director’s departure necessitates an interim plan to mitigate operational disruptions. Tiffany Hooten has excelled as a steward of the city’s finances, leaving a legacy of steadfast leadership and exceptional work ethic. Her wealth of institutional knowledge has helped form this transition plan, and the identified consultant and Interim Finance Director roles will provide specialized and organizational oversight to ensure the seamless functioning of the department.
Prior Actions or Discussions
N/A
FISCAL IMPACTS:
The contract with the consulting Finance Manager assumes a term through July 31, 2025, with the potential to extend by mutual agreement. The projected cost for contract services over this period is approximately $130,000. Costs associated with the professional services agreement for the consulting Finance Manager will be paid from existing budgeted funds for the vacant Finance Director and Deputy Finance Director positions.
STAFF RECOMMENDATION:
N/A
ALTERNATIVES:
N/A