California Environmental Voters’ Post

A nice opportunity in the finance area.

Independence Today sent questions to both Candidates for Finance Director. They will be published in the next issue, which is released mid September. Here are my answers and summary. Thanks for taking the time to review them. ScripType Publishing 2023 Candidate Questionnaire for the October 2023 Independence Today Magazine for Independence Finance Director Please provide: Your name (as it will appear on ballot): Chris Zamborsky Age: 63 Occupation: Financial Systems Project Manager / OCM Consultant OCM is Organizational Change Management Phone and email: 216 409 4299 [email protected] Please answer the following questions using a total of no more than 225 words for all questions: 1. How should the city manage the potential loss of income taxes as more companies switch to a remote workforce? This is no longer a “potential loss” of income tax. Per Finance Director Blaze’s own reports, Payroll Tax collection has been essentially flat for 6 years. This requires the City to be more efficient with our money. I have spent my entire career implementing Budget and Cost Control for companies such as Gillette, Southern Company, and L’Oreal. Independence does little or none of the following pertaining to Capital spending management:  Cost / Benefit Analysis  Return on Investment Analysis  Professional Project Management These are standard Best Practices in the real world; as Finance Director, I will implement these critically needed Best Practices. 2. How will you ensure transparency in the city’s financial reporting? Through KPI’s (Key Performance Indicators), I will present monthly, quarterly, and annual charts of important data. Examples:  New jobs added  Net company additions/losses  Growth / Shrink of internal (City jobs)  Growth / Shrink of Contractor spending 3. What is your strategy for keeping the city in line with its five-year capital plan? The City has already abandoned its 5-year plan based on utilizing money from budgeted Capital projects to pay down debt. This is the current administration’s way of making residents believe that things are better than they really are. With flat revenues, increased costs, and a Union contract negotiation upcoming in 2024, there is zero chance of meeting previously committed goals without doing some, or all, of the following:  Streamlining operations  Reducing/Eliminating frivolous city expenditures  Increasing the Income Tax, which is an option that I firmly reject.  Borrowing more money

Career changing opportunity

Does my business need a finance director? Your business is growing but finance is covered – you have a bookkeeper dealing with all your transaction processing and providing last month's figures and an external accountant for the tax returns. Why add a potentially expensive finance director to the cost base? Well, finance directors provide something that you might be missing. The role of a finance director is all about providing more commercial and strategic financial input to the business. It’s slightly less of a focus on how you did last month and much more attention on what’s going to happen in the next few months – and how you manage that. Examples of a finance director's help might include financial input into pricing decisions and contracts, cost base decisions, developing business plans, assistance with forecasting and cash management, negotiations with funders, and reviews of finance procedures and controls. All those things go a bit beyond what the typical bookkeeper or external accountant would do, but they are exactly the sort of things that a finance director covers in larger businesses. And the cost? There are plenty of FDs now available on a part-time basis as you need them. So it might be a question not of whether you can afford them, but whether you can afford not to have them. #sme #smallbusinessowners #hampshire

We understand the challenges that businesses face, particularly when it comes to managing their financial resources. In light of this, we aim to alleviate the burden of hiring a full-time finance officer or accountant, which can often be financially taxing for smaller entities. Our key areas of focus include: 1. Affordable Financial Services. 2. Essential Financial Knowledge. 3. Orderly Books of Accounts. 4. Business Growth as a Focal Point.

So. You have a group structure in place. You know you need more support and you are thinking of hiring a group FD to monitor your finance function across the group giving you clarity on the group as a whole as well as benchmarking individual businesses within the group to have greater sight of how each individual company is performing. From a research on glassdoor in September 2023, The average salary for Group Finance Director is £147,748 per year in the United Kingdom. The average additional cash compensation for a Group Finance Director in the United Kingdom is £26,710, with a range from £14,241 - £50,097. Generally having the FD in situ does NOT negate the need for an external accountant (or an in house accountant) The group FD will lead on financial risk, M&A activity, corporate governance, business planning and reporting, identifying financial opportunities for the company and supporting the direction / strategies / action plans to achieve the full potential of assets. The external accountant will continue with keeping the business compliant with tax obligations. The external accountant costs will differ and usually run on average at £50,000 per annum if full time employed. Total costs for the employer up to £200,000 per annum. Businesses who benefit most from having both of these roles would be a business in high growth phase from £1million in revenue upwards. For a business at that level it is a huge outlay to have these positions hired in house. So what other options are there? Something we offer at Innovate Accountancy is the option to outsource your entire finance function. One fixed monthly fee. Range of specialisms. Covering both roles with a dedicated team working as an extension of your own. Zero holiday cover. Zero sickness cover. Zero CPD requirements. On a fractional basis paying only for the level of support required. For a fraction of the cost. Would you like to know more? #fractionalfd #cfo #highgrowth #ambitiousentrepreneur

Understanding the Roles: Finance Manager vs. Chief Accountant In any organization, understanding the specific roles of finance professionals is key to efficient operations. Let’s break down the main differences between a Finance Manager and a Chief Accountant: 🔹 Chief Accountant: The Chief Accountant, often seen as the head of the accounting department, is primarily responsible for the accuracy and completeness of the company’s financial records. This role demands a meticulous eye for detail to ensure all financial transactions are recorded correctly according to accounting principles. Key responsibilities include: Maintaining and reconciling ledger accounts. Ensuring compliance with accounting standards and legal regulations. Managing payroll, accounts receivable, and payable. Preparing financial statements and tax returns. 🔹 Finance Manager: On the other hand, a Finance Manager provides a broader financial oversight beyond the realms of accounting. This role involves strategic analysis and planning to guide key financial decisions. Responsibilities extend to: Financial forecasting and risk analysis. Budgeting and resource allocation. Managing investment activities. Developing strategies to increase profitability and reduce costs. Liaising with senior management to align financial plans with company objectives. #FinanceCareers #Accounting #FinancialManagement #BusinessStrategy

Three reasons why accounting and finance professionals should find jobs in the Dallas-Fort Worth Area.