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Patterson 5.2011 Memo RE: Retirement Options

Patterson 5.2011 Memo RE: Retirement Options

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05/19/2011

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MEMORANDUM
DATE:
May
11,2011
TO:
Finance
and
PersonnelCommittees
FROM:
Cal
Patterson,Director
of Finance
&
Treasurer
RE:
City
of
Franklin Financial
Office
Succession
Plan
One
of
thefinancialbestpractices
is
the establishment/maintenance of a
succession
plan
forthe
FinanceDepartment.
The
benefrts
include
ensuringcontinuityand consistencyoffinancial service delivery,
knowledge
transferand leadership
development.
lt
isespecially
difficult
to
dosuccessionplanning
in
a
smalleror$anization.
rhe
present
staffins;*i":'ïffi:i1î::Ï:it
FrE
is
as
forrows:
o
Deputy
Treasurer
.
ïiî"oïns,uoervisor
:
i:::*:tffr:[Kïr;:}rl'ffil;j;',=
There are
two
issues
to
consider:
The
properstaffing
level
of
the
department
and
in
preparationfor
retirementof
the
cunent
Directorwho will
turn 65 this
summer.
What
is
the
properstaffing
level?
A
chartofwhen
core
responsibilitiesoccurduring
the
year
is
shownin Attachment
A. The
Director is on
record
that
one additional
professiona[
staff
member
is
needed
to
properlymanage
the
services
andfunctionsthat are
expected
of the
department,
Attachment B showsthe
request
for
additional
staffing
requested
in
2008
for
2009.
Thatyearwas
the
second
year
assistance
was
requested,
The
request
was
unable
to
befilled thatyear
and has
not beenproposedeachyearsince due
to
the
economic slowdown
andnot
due
to the
lack
of
need.
The
department hasbeen able
to
maintain
its
cofe
functions
due
the
experience
of
the
existingstaff,
the
lower level ofactivity due
to
the
recessíon
and
the
workload
that
has
beendelayed
because
of
theavailable
level
of
staffing.
 
BrookfieldGreenfieldNewBerlin
How
does
the
City
of
Franklin
FinanceDepartment
staffing
size
compare
to
othercommunities of our
size?
The
FTE count
andpopulation
for
the following
communitíes
is
shown below
with the
supporting
documentationfound
in
Attachment
C:
9.25
FTE
37,920
5.10
FTE
36,720
5.75
FTE
39,584
All
of
the
above
municipalities
except
Oak
Creek, have one
individualresponsible
for
both
the
Finance
and
the Treasury
functions.
Greenfield
does not
have
a
water
utility
whileOakCreek
has
a
separate
entiÇ
handle
thewaterand sewer
activity. Duties
of
the
Finance
Departments
also
varied
by
municipality
with
those
giving
the
department
more
responsibilities
havinglargerstaff than
thosehaving
lessresponsibilities.
The
staffing
level
in
Franklin
is
below
most
of the
comparable municipalities
whencompared to
the
duties asked
to
beperformedand
available
staffing.
Successionplanning
alternatives
the City
of
Franklincould consider
include
filling
theexistingposition
when
the
incumbent
announces
a retirement
date
orproviding
a
transition
plan
that allowsforan
eventualreplacement
to
be hired
and
transition in
during
the
periodoftime
theincumbent
transitionsout.
The
transition
planthat
I
wouldlikeyou
to
considerwould
beto
temporarilysplit
the
current
position
of
Director
of
Finance
&
Treasurer
into
two
posÍtions:
Treasurer
and
Director
of
Finance.
Name
the
incumbent
tothe
part
time
position
of
Treasurerand
fill
a
full
tíme
position
of
Director
of
Finance
by
the
beginning
of
the
next
budget
season(August)
with
that
positionreporting to
theTreasurer.This
provides
the
newpersontime
toleam
the issues
in
the
City
of
Franklinincrementally rather
than
being accountablefor
all
of
them
immediately.
The
transition
plan
would
come
full
circle
at
the time
of
theretirement
of
the
currentTreasurer
with
the
Treasurer duties
then
beingadded
to
the
Director
of
Finance's
duties
repoÈable
to
either
the
Mayor
of
the
Director
of
Administration.
A
full
time Deputy
Finance
Director could thenbe
hired
to
support
the
nextDirector
of
Finance
&
Treasurer.
The
benefits
of
this transitionplaninclude
time for
the
necessary institutionaf
knowledge
transfer
to
occur,the fìlling
of
a
position
that
has been
needed
for
severalyearsand time
to
implementsome of
the
projectsthatneverget
tobe
addressed.
The
cost
impact
of
the transition
plan's
wages and benefits
assuming
thatthe
new Dírector
of
Finance
starts September
1't and
the
inéumbentgoes
to
half
time
August
1s
witl
be
an
increase
to the
department's
2011
budget
of
$13,000.
Had
the
transition
plan
been
implemented
at the
beginning
of the
year
the
annual
increase
to
the department's budgetwould
have
been
$23,000,
Oak
Creek
5.25
FTE
34,451
WestAllis
10.98
FTE
60.411
 
From time
totime in the
past
the
concept
of
retuming
to
a separateFinance
Department
and
TreasuryDepartment
wtth
separate departmentheadsis
raised.
The
rationalealways
seems to be
that
it
is
necessary
to
provide
for'checks
and
balances",Whilethat
concept
sounds
niceand
sounds
like it
would
providemoreprotection
for
the
City
the
opposite
is
the
actual
result.Look
at
the
staffing
table
above,
a
separateTreasury
department
w¡th
one full
time
positionand
one
full time
positionmade
up of
part
time
employees
cannot
institute
enoughinternal
controls
stepsand
procedures
to
insure
that
within
this area
a
propersegregationof
dutiesare maintained to safeguard
the assets
of
the
City.
The
present
setup
of
a
Treasury Office
and
a
FinanceOffice
within
the
Finance
Department with employees
in
the
Financeofficeparticipating
in
the
internalcontroltasks
in
the
Treasury
Office
is
much superior
in terms
of
internalcontrols
and
'checks
and
balances"
needed
to
safeguardtheassets
of
the
City.
ln
additionone
managerwho
is
not
involvedindaily
activity
in either
offic,e
can bettercoordinating thefinancial
activity
of
theCity than
twodepartment
heads
that each
are charged
withpad
of
the
responsibility.
An
example
that
highlights
the
benefits
of
a
combineddepañmentfollows. Would
a
separate Treasurydepartment head
with
responsibility
for
investments consider
reducing
the
investibfe
funds
to
pay
off
debt early, debt
thatis
the
responsibility
ofthe
Finance
Department
head?
It
has.been
a
pleasure
to
providefinancial
direc'tion
to the
City
andwork
with
the
otherempfoyees
of the
City
for
a
better
Franklin
for
the
past
almost
eleven
yearsand
while
I
believe
a
youngerpersonshould
be
on
boardand bearing some
of
the
burdens
I
am
willing,
if
desired,
to
continue
contributingon areduced
basis
for
the
nextcouple ofyears.

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