PURPOSE

The purpose of this report is to request City Council adoption of the proposed resolution establishing the specification and salary for the classification of Chief Financial Officer (CTC No. 0149), as shown in the attachment.

BACKGROUND

With the addition of the new Magnolia Power Plant the financial workings of Burbank Water and Power have grown ever more complex.  As a result, it has become necessary to establish the title of Chief Financial Officer to indicate the renewed emphasis on the financial duties.  Many of the functions that will be performed by this new position were previously performed by the Assistant General Manager- Finance and Administration.  But the old title had many extemporaneous duties that took its focus away from finance duties. With this establishment Burbank Water and Power is refocusing the position to the necessary work of finance.  This change will also make it easier to find comparable positions at time of survey as this is the way most utilities organize.

ANALYSIS & CONCLUSION

Burbank Water and Power has found it necessary to refocus the financial duties of the Utility.  This new focus includes an emphasis on duties such as capital financing, energy risk management, debt management, and short and long term revenue forecasting.  These functions have grown increasingly cumbersome with the addition of the Magnolia Power Plant.  Although the Magnolia Power Plant has individuals doing financial work it will be the Chief Financial Officer�s responsibility to coordinate for the financial function of the entire utility.  This new classification will no longer be responsible for administrative duties associated with the level of an Assistant General Manager.  This new title will show the emphasis required of the incumbent and it will make it easier to compare with other utilities at time of salary survey.

This classification will be an unrepresented management (�Z� group) position, exempt from Civil Service, and exempt from the Fair Labor Standards Act (FLSA).  This position will be included in the City�s Conflict of Interest Code.  The Burbank Water and Power General Manager concurs with this recommendation.  The Civil Service Board reviewed this establishment at their regularly scheduled meeting on March 1, 2006.

FISCAL IMPACT

The salary range for the Chief Financial Officer will be set at $10,117 - $12,292.  There will be no fiscal impact to the department since this new classification is intended to replace the Assistant General Manager � Finance and Administration classification and the salaries are the same.

RECOMMENDATION

Staff recommends that the City Council adopt the resolution establishing the specification and salary for the classification of Chief Financial Officer (CTC No. 0149), as shown in the attachment.

Respectfully submitted,

Judie Sarquiz

Management Services Director