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Chief Financial Officer

Company: Spartanburg Water
Location: Spartanburg
Posted on: May 23, 2023

Job Description:

Located in Spartanburg, South Carolina,Spartanburg Wateris an award-winning utility that offers team members a culture ofinnovation, ahistoryof excellence and aninvestmentin their continued success.Nestled in the Piedmont region of South Carolina and a short drive away from the beauty of the Blue Ridge Mountains and ever-popular beaches of the South Carolina Lowcountry, Spartanburg is a thriving and growing community that is home to seven diverse and well-known institutions of higher learning. Residents enjoy incredible outdoor recreation opportunities, an eclectic and delicious local restaurant and brewery scene, a vibrant cultural environment and the benefits of strong economic growth with an affordable cost of living.INNOVATION:Through innovative technologies and industry leading practices, Spartanburg Water has had the honor of twice receiving recognition as a Utility of the Future Today - and as one of only two South Carolina utilities to ever receive the award and only one of 18 utilities globally to receive the honor a second time.HISTORY:Through sustainability and resiliency, Spartanburg Water has consistently provided the highest quality drinking water and wastewater services to our region for more than 100 years, and continues to be a vital part of the area's successful economic growth and development.INVESTMENT:Spartanburg Water offers a generous compensation package, including full medical, dental and vision benefits and participation in the SC Retirement System. The organization also offers tuition reimbursement and opportunities for paid certifications and training. Spartanburg Water firmly believes in the importance of investing in the health, security, and potential of all team members.

Job Skills / Requirements
Has responsible for the Finance Department, including the areas of Accounting, Information Technology, Purchasing and Inventory Control, Field Services, Customer Service and Safety. Continually evaluate the structure of the finance division to optimize for efficiency and effectiveness and to support the organizations growth. Monitors budget activity and ensures budgetary guidelines are maintained. Ensures regulatory compliance in all financial matters.Develops dynamic financial and business planning models, along with performance metrics that drive the development of monthly and quarterly reports and the annual budgeting process.Serves as Secretary/Treasurer for the Water System/Sanitary Sewer District and works with the CEO to deploy investment capital in the most effective manner to achieve the organization's long term strategic initiatives.Monitors financial position of SWS/SSSD including revenues and expenditures, operating and construction fund cash and investment positions.Implements financial management reporting systems to ensure compliance with new accounting guidelines including all GASB and FASB that are applicable.Works with the CEO in providing financial feasibility assessment for mergers and acquisitions of other water/sewer systems.Oversee and monitor compliance with debt service coverage requirements.Oversee the non-revenue water audit program, consistent with AWWA M36 guidelines.Provide financial management for Ad Valorem Taxes, including budgeting and annual submittal of millage request to the Spartanburg County Auditor.Directs the annual budget and rate setting process for presentation at the annual budget work session to include annual revenue budget, 5-year financial plan, Rates and Fees schedules, 3- year Depreciation Cash Flow schedule, company-wide expenditure highlights, 5-year CIP schedule, and debt service schedule for all bonds.Establish and oversee financial policies and procedures to ensure short-term and long-term financial stability. Oversee financial management to achieve ongoing financial stability, measured by the following attributes:

  • Stable customer rates
  • Adequate debt service coverage
  • Sufficient fund balances to meet the operations, maintenance, and capital improvement needs
  • Recovery of cost of service
  • Appropriate balance between debt financing and Pay As You Go funding
  • Proper support from bond rating agenciesOversee Continuing Disclosure requirements: In order to provide certain continuing disclosure with respect to bonds in accordance with Rule 15c2-12 of the U.S. Securities and Exchange Commission (SEC), Digital Assurance Certification, L.L.C. (DAC) serves as exclusive Disclosure Dissemination Agent for the benefit of the bond holders. The Chief Financial Officer serves as "Disclosure Representative" and is responsible for providing an "Annual Report" to DAC.Establish and enhance Reserve Funds, focus on Pay As You Go funding and financial leverage for financing projects. Reserve funds include SWS & SSSD Depreciation Funds, SWS & SSSD Capital Funds, SWS & SSD Rate Stabilization, SWS Distribution System Rehab, SSSD Collection System Rehab, and SWS Meter Infrastructure Fund.Establish and oversee inter-company cost accounting systems and practices as well as processes for budgeting and tracking capital projects and capital funds.Oversee annual audit process conducted by independent auditor.Facilitate capital financing transactions for loans and bonds; handle presentation to rating agencies for SWS & SSSD, in conjunction with financial advisors.Performs a variety of planning and development duties to facilitate achievement of short and long range goals of the organization; assists with the strategic planning process for the company; develops, monitors, and reviews performance measure criteria for effectiveness; assists in the preparation of the capital improvement plan.Ensures compliance with all applicable codes, laws, rules, regulations, standards, policies and procedures; initiates any actions necessary to correct deviations or violations.Attends Commission meetings; provides assistance in preparing minutes; prepares and presents interim financial reports to Commissioners.Performs other related duties as required.MINIMUM TRAINING AND EXPERIENCEBachelor's degree in finance or accounting or related field and ten years' experience in financial planning, forecasting, and accounting. Must understand and show experience with public investments, public revenue and general obligation bond issues. An equivalent combination of education, training, and experience which provides the requisite knowledge, skills, and abilities for this job will be considered. CPA credentials are encouraged. Must possess valid S.C. driver's license.

    Education Requirements (Any)
    Bachelor's degree in Finance
    Bachelors Degree in Accounting

    Additional Information / Benefits
    Benefits: Medical Insurance, Life Insurance, Dental Insurance, Vision Insurance, Paid Vacation, Paid Sick Days, Paid Holidays, Short Term Disability, Long Term Disability, Pension/Retirement, Educational Assistance

    Benefits: Medical Insurance, Life Insurance, Dental Insurance, Vision Insurance, Paid Vacation, Paid Sick Days, Paid Holidays, Short Term Disability, Long Term Disability

    Screening Requirements: Motor Vehicle, Drug Screen, Criminal Background Check, Physical Exam, Education Verification, Employment Verification

Keywords: Spartanburg Water, Spartanburg , Chief Financial Officer, Accounting, Auditing , Spartanburg, South Carolina

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