Job Specification
07451
CHIEF FINANCIAL OFFICER
DEFINITION
Under direction, manages a fiscal or financial operation in local
government through reviewing expenditures for compliance with
budget policies, verifying accuracy of processed fiscal actions,
estimating revenues and expenditures, monitoring internal
financial controls, developing budgeting systems, evaluating the
organization's financial condition, and issuing bonds and notes;
does other related duties as required.
NOTE: The examples of work for this title are for illustrative
purposes only. A particular position using this title may not
perform all duties listed in this job specification. Conversely,
all duties performed on the job may not be listed.
EXAMPLES OF WORK:
Posts numerical transactions (such as debits and credits,
advances, deductions, or balances) to ledgers and worksheets.
Determines cash flow.
Reviews expenditures for compliance with budget policies.
Determines investment strategy for funds such as surplus fund or
pension fund.
Determines expenditures and allocations.
Approves transfer of monies from accounts.
Applies accounting principles.
Allocates payments from taxpayers, employers, or other sources to
appropriate accounts.
Verifies accuracy of processed fiscal transactions.
Corrects errors in computerized accounts.
Identifies cash position and fund requirements.
Estimates revenues and expenditures.
Authorizes purchase of equipment, supplies, or services.
Authorizes payment of expense and travel vouchers, purchase
orders, and other transactions.
Monitors payroll for accuracy of deductions, contributions, or
salary rates.
Answers questions about application of regulations or policies.
Consults with vendors or contractors.
Evaluates overall operation of the program or service.
Instructs staff on policies and procedures.
Selects brokers, dealers, or vendors.
Develops budgeting systems.
Applies established security procedures and guidelines.
Collects payments or fees.
Examines documents for adherence to applicable laws and
regulations.
Identifies funding sources.
Monitors internal financial controls.
Analyzes (troubleshoots) financial transaction processing
systems.
Reconciles accounts.
Monitors the acquisition, disbursal, and use of grant or contract
monies.
Reviews out-of-balance accounts.
Adjusts accounts for suspended or returned amounts.
Monitors contractual agreements.
Reviews local government bond and debt authorizations.
Obtains current price quotes for special purchases.
Monitors compliance to state guidelines for bid specifications.
Reads journals or other publications and meets with groups to
keep abreast of developments in the field.
Develops fiscal projections.
Develops budget revenue and expenditure projections.
Negotiates contractual agreements for purchase of goods and
services.
Evaluates financial planning activities of institutions.
Develops (prepares) annual, quarterly, and monthly reports of
revenues and expenditures.
Corrects errors in financial statements.
Informs individuals of procedures necessary for completion of
forms or applications.
Compiles formal financial statements such as balance sheets,
profit and loss statements, or cash flows.
Devises improvement or change plans for the unit=s operation.
Writes technical, statistical, or financial reports.
Develops and monitors internal audit systems.
Determines and evaluates financial condition or status.
Directs financial planning activities of institutions.
Writes resolution documents.
Updates fund analysis and investment programs.
Develops offering statements for bond and note issuance and
conducts sales.
Reviews grant or contract proposals.
Reviews financial data collection and reporting systems.
Summarizes information from files, reports, documents, research,
notes, or meetings.
Writes narrative letters, policy statements, or reports.
Writes notices, memoranda, or news releases about policy changes,
major events, or other information.
Addresses policy-making committees; for example, legislative or
local governing body.
Meets (as a member) with various policy-making boards, academic
councils, disciplinary boards, committees, or task forces.
Researches current or proposed legislation.
Will be required to learn to utilize various types of electronic
and/or manual recording and information systems used by the
agency, office, or related units.
REQUIREMENTS:
EDUCATION:
Graduation from an accredited college or university with a
Bachelor's degree with at least 21 semester hour credits in
accounting or finance.
EXPERIENCE:
Four (4) years of experience in municipal finance or fiscal
management, one (1) year of which shall have been in a
supervisory capacity.
CERTIFICATION AND LICENSE:
Applicants must possess a valid certification as Certified
Municipal Finance Officer issued by the NJ Department of Community
Affairs, Division of Local Government Services.
Appointees will be required to possess a driver's license
valid in New Jersey only if the operation of a vehicle, rather
than employee mobility, is necessary to perform essential duties
of the position.
KNOWLEDGE AND ABILITIES:
Knowledge of procedures used for issuance and sale of stocks,
bonds, or notes.
Knowledge of principles of investment banking.
Knowledge of principles of fund and cost accounting.
Knowledge of principles of financial management planning.
Knowledge of principles and practices of bookkeeping.
Knowledge of principles and methods of finance.
Knowledge of policies and procedures regarding transfer of
appropriations.
Knowledge of methods for collecting delinquent payments.
Knowledge of elements of internal control systems.
Knowledge of securities being traded in the market place.
Knowledge of public funding sources.
Knowledge of program auditing procedures.
Knowledge of procedures involved in expenditure of public funds.
Knowledge of procedures for reconciling accounts.
Knowledge of procedures for conducting audit conferences.
Knowledge of organizational lines of communication (formal and
informal).
Knowledge of municipal debt management.
Knowledge of microcomputer spreadsheet software.
Knowledge of methods and procedures for developing grant
proposals.
Knowledge of methods and procedures for developing a temporary
budget.
Knowledge of market price fluctuations which affect sale and
purchase of stock, bonds, or securities.
Knowledge of Generally Accepted Auditing Standards and Procedures
(GAAS).
Knowledge of Generally Accepted Accounting Principles and
Procedures (GAAP).
Knowledge of general accounting.
Knowledge of financial program auditing procedures.
Knowledge of the Federal Internal Revenue Code.
Knowledge of established security procedures and guidelines.
Knowledge of EDP auditing terminology.
Knowledge of the Capital Asset Quality Management Earnings
Liquidity (CAMEL) system for rating financial institutions.
Knowledge of bidding procedures.
Knowledge of audit techniques for computerized accounting
systems.
Knowledge of administrative principles and practices.
Ability to write at the reading level of the targeted audience.
Ability to summarize information in written form.
Ability to schedule and organize work activities for others.
Ability to recommend emergency appropriations and line-item
transfers.
Ability to recognize inconsistencies in financial data and
determine source of discrepancies.
Ability to prepare and interpret financial statements such as
cash flow, profit and loss, and balance sheets.
Ability to interpret and apply New Jersey Budget Law.
Ability to interpret and apply laws, rules, regulations, and
policies applicable to fiscal and financial management and
contract and grant administration.
Ability to interpret and apply Governmental Accounting Standards
Board=s pronouncements.
Ability to interpret and apply administrative codes and statutes
governing an agency's financial administration.
Ability to follow flow charts.
Ability to evaluate and interpret formal financial statements.
Ability to develop financial projections or forecasts.
Ability to determine the appropriate auditing procedure for
specific cases.
Ability to determine scope, focus, and priority of audit or
examination.
Ability to comprehend, interpret, and evaluate relevant
information from various types of source materials.
Ability to compare written, numerical, or printed material for
accuracy.
Ability to communicate orally.
Ability to calculate revenue and expenditure projections.
Ability to apply laws, rules, or regulations to given situations.
Ability to apply cost factors.
Ability to analyze complex financial records.
Ability to utilize various types of electronic and/or manual
recording and information systems used by the agency, office, or
related units.
Ability to read, write, speak, understand, and communicate in
English sufficiently to perform duties of this position.
American Sign Language or Braille may also be considered as
acceptable forms of communication.
Persons with mental or physical disabilities are eligible as long
as they can perform essential functions of the job after
reasonable accommodation is made to their known limitations. If
the accommodation cannot be made because it would cause the
employer undue hardship, such persons may not be eligible.
CODES: LG - 07451 MCK 10/04/05
This job specification is for local government use only.
|