An initiative from City of Powell River’s interim chief financial officer will provide city councillors with greater awareness of the city’s finances and help improve its oversight of the public purse.
Corien Becker, interim chief financial officer (CFO) for the city, presented the finance committee with a basic template of the quarterly reports at the committee’s January meeting.
“It’s really important for me that I make sure council is able to see the big picture,” said Becker. “It’s council’s role to make sure the big policies are being achieved.”
Becker took over from Shehzad Somji last month while city staff completes its search for a permanent candidate for chief financial officer. Becker’s last post was with the District of Squamish where she was chief administrative officer.
Since taking the position in Powell River, Becker has noted that policies around managing the city’s reserve funds need further development to address the annual shortfall in contribution, in addition to developing some of the city’s other financial policies and goals.
Becker said the quarterly reports will be at high enough level that council is able to understand the city’s financial status, but still give department directors the ability to operate without being micromanaged.
The reports will help council see that its financial goals for the city are being met throughout the year, she said.
Chief administrative officer Mac Fraser noted Becker’s initiative was “the logical next step” as council has moved to a model of having the city’s operational budget, which runs from January to December, prepared by the end of the calendar year.
“In the recent past we have done better on informing you on this issue, but it was largely in prep for the annual open house,” said Fraser. “Oversight requires a bit more scrutiny than just preparing for the annual open house.”
Fraser said he appreciates what Becker has initiated in the short time that she’s held the job.
“We’re all appreciative of what Corien has brought to her interim job,” he said.
Councillors applauded Becker’s initiative.
“The higher-level review,” said councillor and finance-committee chair Russell Brewer, “helps us be more strategic when we start talking about setting plans.”
