Saturday, February 7, 2015

Chief Financial Officer - Chicken or Egg Problem for small towns

Recently, I was part of a conversation that was coming up with ideas for improving Newfield as a community.  One of the key enablers discussed was a paid chief financial officer.   The assertion was that in order to pursue public and private grants and other funding sources that are vital when tax revenues result in bare bones budgets, a full time chief financial officer is necessary.

Of course, a bare bones budget environment means no chief financial officer at all as any town employee except what the state mandates seems like a luxury.  Hence, chicken or egg problem.   In my ideal world, someone with the right credentials, who had the time, and who did not need the salary, would step up and do the job while donating the salary right back to the town.  I would expect any travel, course and conference fees might be reimbursed but even that could be donated back or paid by a local public service organization.

So, if you live in a small town with this problem and you know of someone who fits the bill, speak up.  Sometimes, what turns someone into a volunteer is being asked.

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