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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.