Job Title: Chief Financial Officer (CFO) Department: Central Administration / Business Office
Contract: Full-time, 245-day contract
FLSA Status: Exempt
Salary: Based on District Salary Schedule
- The Chief Financial Officer (CFO) serves as the chief financial administrator of the Hamburg School District, providing leadership and oversight of all district financial operations. This position is responsible for ensuring the effective management of district resources, maintaining fiscal accountability, and supporting the district's mission and goals through sound financial planning, budgeting, and financial reporting. The CFO works closely with the Superintendent, School Board, administrators, and staff to ensure the district's financial stability and compliance with all applicable local, state, and federal laws and regulations.
QUALIFICATIONS: - Bachelor's degree in Accounting, Finance, Business Administration, or a related field. Master's degree or CPA highly preferred.
- Valid Arkansas School Business Official certification, if required by applicable state regulations, or willing to obtain such certification.
- Minimum of five (5) years of progressive financial management experience, preferably in an Arkansas school district or government.
- Preferred knowledge of Arkansas public school finance, state funding formulas, school district budgeting, and financial reporting requirements.
- Preferred knowledge of governmental accounting principles, auditing procedures, and financial management practices.
- Preferred proficiency with APSCN/eFinance, Excel, and data analysis tools.
- Excellent organizational, communication, analytical, and problem-solving skills.
- Ability to maintain confidentiality and exercise sound professional judgment.
REPORTS TO: - Superintendent of the Hamburg School District
ESSENTIAL DUTIES, FUNCTIONS, AND RESPONSIBILITIES: - Financial Management and Budget Development:
- Direct and oversee all financial operations of the Hamburg School District to ensure sound fiscal management and accountability.
- Prepare, develop, and monitor the district's annual budget in collaboration with the Superintendent, the District Treasurer, and building and department administrators.
- Provide financial projections, revenue estimates, expenditure reports, and recommendations to assist the Superintendent and School Board in making informed financial decisions.
- Monitor district revenues and expenditures to ensure the district operates within its approved budget.
- Maintain accurate financial records and ensure appropriate accounting procedures and internal controls are in place.
- Monitor cash flow, investments, and district fund balances to maintain financial stability.
- Identify opportunities for cost savings and efficient use of district resources.
- Present the annual budget to the Superintendent and Board for approval and submit the approved budget to the State for approval.
- Accounting and Financial Reporting:
- Oversee all accounting functions, including accounts payable, accounts receivable, payroll, purchasing, and general ledger activities.
- Prepare and present monthly financial reports to the Superintendent and School Board.
- Monitor district accounts, bank statements, and financial records.
- Oversee the preparation of annual financial statements and required financial documentation.
- Ensure proper accounting and reporting of all district funds, including local, state, federal, and activity funds.
- State and Federal Funding and Compliance:
- Monitor state funding, including foundation funding, categorical funding, grants, and other revenue sources.
- Oversee the financial management and reporting of federal, state, and local grants in coordination with appropriate district personnel.
- Oversee the District's municipal bond obligations, including debt service payments, bond proceeds expenditures, continuing disclosure requirements, and compliance with applicable bond covenants and financing documents.
- Monitor compliance with federal tax-exempt bond requirements, including arbitrage rebate, yield restrictions, private business use limitations, and applicable recordkeeping and post-issuance compliance obligations, in coordination with the District Treasurer and external financial and legal advisors.
- Ensure compliance with Arkansas school finance laws, Arkansas Department of Education rules and regulations, federal requirements, and applicable accounting standards.
- Maintain knowledge of changes in school finance regulations, funding requirements, and reporting procedures.
- Work collaboratively with federal programs and other district administrators to ensure expenditures are allowable, properly documented, and within grant guidelines.
- File all required paperwork with the Division of Public School Academic Facilities, ensuring the district maximizes its use of state funding and receives project funding as appropriate.
- Develop and update the district Facility Plan for submission to the State every two years.
- Work with the District Treasurer to meet legal requirements in areas such as bonded debt, overseeing bond compliance, lease purchase agreements, IRS regulations, minimum wage, and the Fair Labor Standards Act.
- Oversee school and board member elections to ensure all timelines and requirements are met.
- Audits and Internal Controls:
- Coordinate the district's annual financial audit and serve as the primary contact for Arkansas Legislative Audit regarding financial matters.
- Prepare and maintain financial records, supporting documentation, and reports necessary for audits and compliance reviews.
- Review audit findings and work with the Superintendent and appropriate personnel to ensure prompt resolution of findings, including developing and implementing corrective action plans.
- Establish and maintain effective internal controls to safeguard district assets and prevent errors, misuse, or misappropriation of funds.
- Ensure compliance with all required financial policies, procedures, and reporting deadlines.
- Conduct annual Tier II training for all district personnel who handle cash or are responsible for managing accounts.
- Oversee and communicate district finance procedures and policies to all district employees.
- Purchasing and Financial Operations:
- Oversee district purchasing procedures, procurement practices, and financial commitments in accordance with School Board policies and applicable state and federal requirements.
- Review purchase orders, invoices, contracts, and payment requests to ensure proper authorization and availability of funds.
- Monitor district expenditures and assist administrators in managing departmental and building budgets.
- Oversee payroll operations in collaboration with the Payroll office to ensure compliance with all applicable laws and regulations, and review all requests for pay by hour or job.
- Work with district administrators to ensure compliance with applicable laws and regulations concerning the use of public funds, including bid requirements and ethics compliance related to hiring and spending.
