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For Immediate Release

News Friday, February 16, 2007

Larry Spring Appointed as City of Miami

Chief Financial Officer
-New Position Becomes Effective February 20, 2007-

Larry Spring
(Miami, Florida) – The City of Miami City Manager Pete Hernandez has announced the
appointment of Larry Spring to Chief Financial Officer. In his new role, Mr. Spring will
oversee the Departments of Finance, Purchasing, Community Development, Economic
Development, Public Facilities and Risk Management.

“During his tenure in the ‘acting’ CFO role, Mr. Spring demonstrated the ability to
assume the full duties of this critical role,” says Miami City Manager Pete
Hernandez. “He has maintained the level of initiative and integrity that this job
demands, and has certainly demonstrated that he is well-prepared to assume the
position on a permanent basis.”

Spring received a Bachelor of Science degree in Management, with a major in

Accounting from the A.B. Freeman School of Business at Tulane University in New
Orleans. Prior to joining the City in 2003, he was employed in private sector banking
for eight years. His experience in banking includes management roles in auditing,
financial and regulatory accounting, and controller duties. He became a Certified
Public Accountant in May, 2001.

Michael Boudreaux will temporarily replace Mr. Spring as “acting” Chief of Strategic
Planning, Budgeting and Performance while a formal interview process takes place.

Mr. Spring’s appointment becomes effective February 20, 2007.

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· Kelly Penton, Director · kpenton@miamigov.com · Telephone: (305) 416-1440

444 S.W. 2nd Avenue, 9th Floor , Miami, FL 33130 · Fax: (305) 416-1441