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HomeMy WebLinkAbout7C, Finance Analyst PositionP. �EN HILLS Request for Council Action Prepared By: Patrick Klaers City Administrator C Council Meeting Date: November 29, 2010 Approval of Finance Analyst Position. Budgeted Amount: $1,680 Recommendation: Actual Amount: $4,839 Funding Source: Various Funds across which the Finance Analyst is allocated. 1. Motion to approve the position of Finance Analyst. 2. Motion to direct staff to finalize the job description and bring forward for Council Approval. 3. Motion to appoint Kyle Howard to the Finance Analyst position at Pay Grade 7, Step 1, effective immediately. Supporting Documents: 1. See the attached memo from Patrick Klaers and Sue Iverson dated November 29, 2010. 2. Finance Analyst Request. 3. Draft Job Description. DATE: November 29, 2010 TO: Honorable Mayor and City Council Members FROM: Patrick Klaers, City Administrator 12 61.1-fr Sue Iverson, Finance Director/Treasurer SUBJECT: Approval of the Finance Analyst Position Background On October 29, 2010, and November 10, 2010, the Personnel Committee met to discuss the addition of a Finance Analyst position in the Finance Department. As a result of these meetings, the Personnel Committee recommended the position be brought to the November 15 City Council worksession to be discussed with the full City Council. At the City Council's worksession on November 15 the City Council reviewed and discussed this position and directed staff to put it on the November 29, 2010, City Council Meeting Agenda. Current Discussion �iRDEN HILLS MEMORANDUM The current Finance Intern, Kyle Howard, has been doing most of the work outlined in the attached position request. Kyle has managed to take on these duties as a result of both his Finance and Accounting degrees as well as his tenure with the City in the intern position. If we remain with an intern position, when a new intern comes on board, the Finance Director will again have to reassume most of the duties /work outlined in the position request which will create a backlog of work in the Finance department and will limit the amount of work that the City Administrator can delegate to the Finance Director. The position request basically outlines the duties of the position and the Personnel Committee is working on the final version of the job description. Due to the holiday schedule, staff will bring the final version of the job description forward at the December 6 Special City Council Meeting. Y g City Council Meeting Metro- inet. us\ ardenhills \Admin \Council\Agendas Packet Information\2010\ 11 -29 -10 Regular\Packet Information\ 11- 29- 10_Memo_Finance_Analyst.doc Page 1 of 2 Council Action 1. A motion to approve the position of Finance Analyst. 2. Motion to direct staff to finalize the job description and bring forward for Council Approval. 3. Motion to appoint Kyle Howard to the Finance Analyst position at Pay Grade 7, Step 1, effective immediately. City Council Meeting Metro- inet. us\ ardenhills \Admin \Council\Agendas Packet Information\2010\ 11 -29 -10 Regular\Packet Information\ 11- 29- 10_Memo_Finance_Analyst.doc Page 2 of 2 FINANCE ANALYST REQUEST 1 I�DE HILLS Request Summary We have analyzed resource needs in accomplishing the Finance department workload and goals, evaluated options and developed the recommended resource addition of a Finance Analyst, including annual costs. Key Objectives 1. Provide coordination and facilitation of the financial plan and annual budget process. 2. Provide analytical support for fiscal planning, fiscal monitoring, policy development, policy compliance, budgeting and budget performance reporting. 3. Provide analytical support for Investment management and perform cash management activities such as; bank reconciliations, cash flow projections, and quarter reports. 4. Assume the maintenance of the financial data required by GASB 34 associated with the infrastructure and fixed asset reporting systems. 5. Provide improved internal controls. 6. Assume duties that have been delayed or deferred due to human resource constraints including implementing the capital project management, purchase order systems, EFT vendor payments, Sharepoint (intranet), and information technology projects. 7. Assist senior management staff in responding to workload backlogs. Additional Staffing Needed to Accomplish Department Mission, Goals and Objectives With the new upgrade of the accounting system (Springbrook), auditing standards, GASB statements, major capital projects, upgrades to the budgeting process, and other goals and initiatives, the Finance Department is not able to adequately address its core mission. Stated simply, accomplishing the mission of the Finance Department with the current staffing level is not sustainable. Meeting Tong -range planning, reporting and monitoring needs in all areas of the division's operations means increasing the analytical capacity of the Finance Department. Examples of duties and projects that would be assigned to the Finance Analyst continue to include: 1. Assisting in improving our customer service levels primarily by expanding our analytical abilities an decreasing the response time for fiscal policy advice and guidance. This includes reducing our response time on simple inquiries regarding budget preparation to improving our ability to timely employ complex cost analyses required in the development of the utility rates and other charges for services. 2. Scheduling the budget time frame and supervising the distribution of all budget material. Instructing and assisting department staff with established guidelines and completion of forms. Evaluating submitted departmental budget proposals as to fiscal impact and preparing reports analyzing and evaluation various budget proposals for administrative review. 3. Assist with the preparation and publication of the annual budget book in a timely manner (within two months of adoption by City Council). 4. Analyzing budget performance and preparing report of findings on revenues and expenditures and advising administration as to potential problems. 5. Scheduling and preparing required and requested financial reports for federal, state, grantor and other agencies. These reports include reimbursement requests and other reports required by the U.S. Department of Justice, Minnesota Public Facilities and Pollution Control Agencies, Minnesota Office of the State Auditor, Minnesota Department of Revenue and other agencies and organizations. 6. Coordinating and managing the time consuming task of maintaining the financial data mandated by GASB 34 related to infrastructure and fixed assets reporting requirements. 7. Perform cash management activities such as bank reconciliations, cash flow analysis, and portfolio management. FINANCE ANALYST REQUEST --A B EN HILLS 8. Implementing the much needed capital project management and purchase order modules in our financial system that have to this point in time been deferred because of workload constraints. 9. Setting up and maintaining the City Intranet site (Sharepoint) which to this point has been deferred because of workload constraints. 10. Assist the Finance Director with the IT duties and employee education on software issues. 11. Assume duties which promote an improved internal control system, facilitate financial transparency and contribute to safeguarding of the City's assets. Goal and Policy Links Finance Department Operating Program Goals 1. Developing and implementing efficient and effective financial policies, plans and reporting systems that help the operating departments achieve their objectives and assure the City's long -term fiscal health. 2. Protecting the City's assets from unauthorized use. 3. Effectively using the City's financial information technology resources in improving productivity, customer service and access to critical information. 4. Providing quality service to all of the division's customers both external and internal to the organization. To view the Finance Department's organizational chart and for a brief description of the Finance Department's mission, vision, primary objective, and programs and services please see the accompanying attachments. Financial Considerations Adding a Finance Analyst in the Finance Department will cost $66,652 in 2011. The General Fund impact would be $13,330 as this position would reduce intern costs in the Finance department and this position is allocated across all funds as it provides general financial support as do the other positions in the Finance department. This position is currently included in the Preliminary 2011 budget in contingency. Stakeholders 1. Mayor, Council Members, senior management, and front -line staff in the Finance Division. 2. Employee Services. 3. Operating departments that benefit from Finance services. 4. Community as a whole that benefits from effective fiscal stewardship, accountability and financial transparency. Implementation 1. Hire current intern Kyle Howard January 2011 Alternatives Continue the Status Quo: The Finance Division will do the best it can to prioritize workload and respond to City Council and community needs. However, given staffing constraints, workload and projects that have already been deferred or delayed, maintaining the status quo will likely result in a reduction in Finance services to the community and organization from current levels, this would also mean that the audit findings for "timely reconciliations" would most likely return, final budget books would likely continue to completed late in the year and quarterly financial reporting would most likely continue to be late. While we continue to use interns, the training period as we replace them requires time and depending on how long we have them it also impacts what projects we can give them and how much expertise they develop. 2 .A.REN HILLS November 2010 Position Title: Department: Accountable to: Positions Supervised: Status: CITY OF ARDEN HILLS POSITION DESCRIPTION Finance Analyst AU Finance Department Director of Finance and Administrative Services None Full -Time, Exempt SUMMARY Under the general direction of the Director of Finance and Administrative Services, the Finance Analyst is a professional position responsible for providing coordination and facilitation of the financial plan and annual budget process. This position provides analytical support for investment and cash management activities. ESSENTIAL FUNCTIONS OF THE POSITION Provides coordination and facilitation of the long -range financial management plan and the annual budget process including the Capital Improvement Plan (CIP). Provides analytical support for fiscal planning, fiscal monitoring, policy development, policy compliance, budgeting and budget performance reporting. Assist in the preparation of the annual budget document. Provides analytical support for investment management and perform cash management activities such as; bank reconciliations, cash flow projections, and quarterly reports. Maintains the financial data required by GASB34 associated with the infrastructure and fixed asset reporting systems. Maintains capital project management files and construction -in- process files related to fixed -asset reporting. Prepares audit reports for auditors at year -end (audit work papers). Assists in the preparation of the Comprehensive Annual Financial Report. Prepares and distributes quarterly financial reports to management and City Council. Files required financial reports with the Office of the State Auditor. Processes and maintains all property and causality insurance files, claims, and premiums. Prepares Worker's Compensation audit. Administers and maintains the employee intranet or Sharepoint system and key contact person for information technology issues under the direction of the Director of Finance and Administrative Services. Provides backup support to the Utility Billing function, Accounts Receivable and the Accounting Analyst. Performs internal auditing procedures as assigned by the Director of Finance and Administration. Creates and updates forms, as necessary, to aid in the collection of financial related data. Performs all other related duties and responsibilities as may be required. QUALIFICATION REQUIREMENTS To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and /or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. EDUCATION and /or EXPERIENCE Minimum Requirements: Four -year degree in Finance, Accounting, or a related field; or two -year finance /accounting degree plus three years experience in finance /accounting. Experience constructing complex spreadsheets (MS Excel preferred). Desired Qualifications Four -year degree in Finance. Once year or more experience with Investment and Treasury management activities. One year or more experience analyzing general ledger accounts and preparing journal entries. One year or more preparing audit work papers. Advanced knowledge of spreadsheet, database applications (tables, complex formulas, database creation), and Microsoft Office applications. Governmental accounting experience. Knowledge of Springbrook Software. LANGUAGE SKILLS Ability to read and interpret documents such as financial reports, operating and maintenance instructions, laws, policies, and regulations, contracts, and procedure manuals. Ability to prepare reports and correspondence. Ability to communicate effectively both orally and in writing with supervisors, City staff, auditors, elected officials and the general public. MATHEMATICAL SKILLS Ability to make arithmetic computations using whole numbers, fractions and decimals. Ability to compute rates, ratios, and percentages. OTHER KNOWLEDGE, SKILLS, AND ABILITIES Knowledge of advanced accounting practices and procedures. Knowledge of payroll practices and procedures including Federal and State laws in relation to payroll. Advanced knowledge of computers and software applications, including word and excel. Ability to operate various types of office equipment. Proven excellent customer service skills via phone and in person. PHYSICAL DEMANDS The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. While performing the duties of this job, the employee is regularly required to use hands to finger, handle, or feel objects, tools, or controls; sit; and talk or hear. The employee frequently is required to sit. The employee is occasionally required to stand; walk; reach with hands and arms; stoop; kneel; crouch; or crawl. The employee must occasionally lift and /or move up to 10 pounds and occasionally lift and /or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, peripheral vision, depth perception, and the ability to adjust focus. CERTIFICATES, LICENSES, REGISTRATIONS Minnesota Class D Drivers License. WORK ENVIRONMENT The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions. The noise level in the work environment is usually moderate.