CSMFO Magazine March 2016

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The premiere issue of CSMFO Magazine. Articles and features on finance in California by the professionals who make it happen and how.


<ul><li><p>CSMFO MAGAZINE MARCH 2016CSMFO.ORG</p><p>1</p><p>CSMFO M A G A Z I N E</p><p>C A L I F O R N I A S O C I E T Y O F M U N I C I P A L F I N A N C E O F F I C I A L S</p><p>PREMIERE ISSUE</p><p>MARCH 2016 #1</p></li><li><p>CSMFO.ORGCSMFO MAGAZINE MARCH 2016</p><p>GOVERNMENT BANKING. FOR US, ITS PERSONAL.</p><p>At Bank of the West, we offer responsive, insightful solutions customized to your specific needs by tapping into our deep knowledge of government banking and the latest industry-related trends all built on our rock-solid history of over 140 years. </p><p>To speak with a Government Banking Relationship Manager, call (866) 588-1358.Member FDIC. </p><p>Equal Housing Lender. 2016 Bank of the West.</p></li><li><p>CSMFO MAGAZINE MARCH 2016CSMFO.ORG</p><p>3To learn more about building stronger bonds with insurance from National, visit www.nationalpfg.com</p><p>Stronger Bonds.Insured by National.</p><p>Kentucky Municipal Power </p><p>Agency</p><p>Power System Revenue </p><p>Refunding Bonds, Series 2015-A</p><p>Town of Clayton, New Mexico</p><p>Jail Project Improvement </p><p>and Refunding Revenue Bonds, </p><p>Series 2015</p><p>South Tahoe Joint Powers Financing </p><p>Authority </p><p>Refunding Revenue Bonds, Series 2015-A</p><p>Rhode Island Infrastructure </p><p>Bank</p><p>City of Pawtucket, Refunding Water Revenue Bonds, </p><p>Series 2015</p><p>Harris County Municipal Utility District No. 433</p><p>Unlimited Tax Bonds, Series2016</p><p>$210,600,000 $57,535,000 $23,680,000 $24,265,000 $4,575,000 </p><p>Community Redevelopment </p><p>Agency of City of Montebello</p><p>Subordinate Tax Allocation Refunding </p><p>Bonds, Series 2015-A &amp; 2015-B</p><p>City of Coffeyville, Kansas</p><p>Electric System Revenue Bonds, Series 2015-B</p><p>Dawson County Hospital District </p><p>Limited Tax General Obligation Refunding Bonds, </p><p>Series 2015</p><p>Port of Redwood City</p><p>Refunding Revenue Bonds, </p><p>Series 2015</p><p>Far Hills Utility District</p><p>Unlimited Tax and Revenue </p><p>Refunding Bonds, Series 2015</p><p>$25,180,000 $48,900,000 $9,000,000 $6,940,000 $2,535,000 </p></li><li><p>CSMFO.ORGCSMFO MAGAZINE MARCH 2016</p><p>CSMFO M A G A Z I N E</p><p>C A L I F O R N I A S O C I E T Y O F M U N I C I P A L F I N A N C E O F F I C I A L S</p><p>MARCH 2016 #1</p><p>2016 Board of DirectorsPresident John Adams, City of Thousand OaksPresident-Elect Drew Corbett, City of San MateoPast President Jesse Takahashi, City of CampbellBarbara Boswell, City of LancasterJimmy Forbis, City of MontereyBrent Mason, City of RiversideMarcus Pimentel, City of Santa CruzKaran Reid, City of ConcordChu Thai, City of Monterey Park</p><p>Executive Director/Editor Melissa Dixon, MBA, CAE</p><p>Editorial Designer David Blue Garrison</p><p>For more information on CSMFO or this Magazine, please contact the CSMFO office at </p><p>916.231.2137 or visit the website at www.csmfo.org</p></li><li><p>CSMFO MAGAZINE MARCH 2016CSMFO.ORG</p><p>5</p><p>CONTENTSMARCH 2016</p><p>6 Presidents LetterJohn AdamsExecutive Directors LetterMelissa Dixon</p><p>Avoiding the Headlines: Navigating the Challenges of an IT System ImplementationScott Johnson, CPA, CGMA</p><p>Chapter Chair Q&amp;ACarrie Corder and Steve Heide</p><p>A Meeting to RememberStephen Parker</p><p>Got Accounting?Will Fuentes</p><p>Swimming Safely in Treacherous Waters: Paying Attention to Financial HealthMichael Coleman</p><p>Savvy Nonprofits Create a Solid Funding StrategyFirst Nonprofit Group</p><p>A Year with the Program CommitteeDrew Corbett</p><p>Using Your Leadership Position to Improve Budget OutcomesMichael Newsome</p><p>Understanding Retirement Plan Fees and Keeping Them LevelEdward Wagner </p><p>The Pending StormDan Schaaf and Tim Seufert</p><p>Connect with CSMFOs CoachesDon Maruska</p><p>Has Auditing Become a Commodity Service?Kenneth Pun</p><p>CSMFO STAFF Q&amp;AStaff</p><p>Job Opportunities</p><p>8</p><p>1114</p><p>1618202324263032</p><p>36384145</p></li><li><p>CSMFO.ORGCSMFO MAGAZINE MARCH 2016</p><p>PRESIDENTS LETTERJOHN ADAMS</p><p>incoming presidents mostly wrote about how wonderful their Annual Conference was. Makes sense, since their first article was shortly after the Conference ended and all of the highlights were fresh in their minds. Since my first article will appear in the new Magazine that will be on display in Anaheim, I thought I needed to wait until Aprils article to thank everyone for all their hard work making this years Conference a success. Dont get me wrong; for the seemingly very few of you who wont be in attendance at the Conference, there will be plenty of highlights next month!</p><p>Instead, I decided to write about past CSMFO conference experiences that have made an impact on my career in municipal finance. I am not sure how many municipal finance professionals planned to go into the public sector while in collegeits not like going to school to be an urban planner or a civil engineer. Having a background in finance or accounting provides you the opportunity to go into any industry and, like most I believe, I just fell into it. I believe my involvement in CSMFO and experiences at past conferences have actually kept me in the field and helped me grow as a municipal finance professional.</p><p>Burbank 1996 Lights, Camera, Finance</p><p>In 1995, I had been working at the City of West Hollywood for less than two years before attending my first CSMFO meeting. It was not just any meeting, but a CSMFO Conference </p><p>A CONFERENCE LIFE FOR ME</p><p>Host Committee meeting to plan the 1996 Annual Conference in Burbank. So how did an accountant get included on a Host Committee? Well, it just happened I was wearing a coat and tie that day. My finance director, Paul Arevalo, was on the Committee with several other finance officers to assist the City of Burbank in hosting the Annual Conference. Back then, the host city had to have lots of volunteers to help make a conference successful. For instance, there was no online registration and everyone was registered manually. Paul needed to bring support, so he looked around the office and I guess I was the only one with a tie on and a coat ready to go. I remember him stopping by my cubicle and asking if I had plans for the afternoon. You can imagine my response: Nope, whatever you need, let me know. He said Lets go, and I soon figured out he was going to need support as he volunteered at the Committee meeting for several projects, including special events on Saturday and an opening video (which you can watch here https://www.youtube.com/watch?v=gUEQRJ84Nc8 on YouTube). I learned a lot and had loads of fun. The best part was that Paul introduced me to many wonderful CSMFO members, people like Joan Michaels Aguilar (past CSMFO Board Member, City of Dixon), Derek Hanway (Past President), Bob Elliot (City of Glendale) and Al Holliman.</p><p>Al Holliman is in the introduction video and was the Conference Host &amp; Finance Director in Burbank and, no surprise for those that know him, just a great person. </p><p>Welcome to the New CSMFO Magazine and my first Presidents Message. For those that know me, it wont come as a surprise that it took a long time and a lot of thought to decide what to write about. (I did try to delegate the writing responsibilities, but everyone I approached is smarter than that, thank goodness.) As I spent all of Presidents Day weekend pondering the theme, I looked back at past articles of incoming presidents and noticed a pattern:</p><p>JOHN ADAMS FACTSJohn has been a member of CSMFO since 1996 and he joined the board in 2010.</p></li><li><p>CSMFO MAGAZINE MARCH 2016CSMFO.ORG</p><p>7</p><p>To this day, I believe he gave me some of the best advice I have ever received. After a contentious meeting with the LA County Fire Chief (long story), he told me, John, there are three things you need to remember to be a successful Finance Director: 1) Dont Piss Off the Fire Chief, 2) Dont Piss Off the Police Chief, and 3) Never Trust an Engineers Estimate. We were close to breaking rule one (luckily it all worked out), but to this day I always remember those words, especially when my city engineer provides an estimate on a capital project. </p><p>I mentioned Paul Arevalo earlier. He has not been actively involved in CSMFO since his appointment as city manager for West Hollywood in 2000, a post he continues in to this day. But that doesnt mean hes not involved in municipal finance, as he has been a member on the Leagues Revenue &amp; Taxation Committee for 16 years. He continues to be supportive of CSMFO, and many of the West Hollywood finance employees are active CSMFO members. Paul was a CSMFO Board Member in the late 90s, but his real impact on CSMFO was as the first chair for the Technology Committee that was formed in 1996. With his vision and leadership, and the support of Kirk Biglione, CSMFO established the Committee and its web presence at www.csmfo.org, and created a great resource called the CSMFO ListServ. As the CSMFO President, I am recognizing his contributions to CSMFO in my message but, more importantly, thanking him for his mentoring and friendship the past 22 years. </p><p>Pasadena 2000 Expanding Horizons in Government Finance</p><p>In 1999, when Paul was on the Board, he volunteered to be on the 2000 Annual Conference Host Committee in Pasadena with Jay Goldstone. Of course, you know what that meant for me: I was also </p><p>volunteered to participate. The Annual Conference in 2000 </p><p>was going to be a big deal, as it was one of the first conferences for CSMFO that was going to have an Exhibit Hall. The problem was that when Jay proposed </p><p>to host the Conference, he did not know that he would </p><p>need to have an Exhibit Hall. Soon after the Committee started its </p><p>work to plan the Conference, Paul was appointed Interim City Manager, which meant I would have to take more of a lead role in assisting Jay and others on the Conference. (By now I am an accounting manager and had been a member of CSMFO for four years.) Ultimately I was tasked with coordinating the Exhibit Hall, working with commercial members and the convention services company. It was a complete learning experience, since I had no idea what I was doingbut neither did Jay or anyone else on the Committee, so if I messed something up they would never know. On that Committee, there were three people that played significant roles for that year: Jay Goldstone (Pasadena Finance Director), Tracey Hause (Arcadia Finance Director), and Viki Copeland (Hermosa Beach Finance Director). Hopefully many of you know Jay, Tracy and Viki, since all are still very active in CSMFO and our profession. Tracey is currently the San Gabriel Valley Chapter Chair and Viki Copeland is the Chair of the Annual Conference Program Committee. Viki was also involved in developing the Conference Program in 2000, and has been involved in multiple programs for conferences since 2000. She has not done it alone, but she has </p><p>made significant contributions over the years and if you see her at the Conference, please say thank you to her for leading the development of this years program (as always, it is stellar). Closing out Pasadena, my highlight was the general session with Frank Abagnale and appreciating the trust Jay gave me with such a large responsibility on the Exhibit Hall. The best thing for me that year was to truly understand the support our commercial members provide to our association. As a governmental member, I really appreciate how much they help CSMFO meet its mission. </p><p>Other Past Conferences</p><p>Since 2000, I have been involved in planning six conferences, everything from developing technology sessions to organizing golf tournaments (I am a terrible golfer). Being involved in planning conferences has built many relationships that I continue to enjoy today with members like: Ronnie Campbell, Pamela Arends-King, Laura Nomura, Scott Johnson, Viki Copeland, Joan Michaels Aguilar, Margaret Moggia, David Cain, Steve Heide, Jay Goldstone, Mark Alvarado, Janet Salvetti, Pauline Marx, and Mary Bradleythe list goes on. </p><p>I also have not missed the opportunity to attend our premier training event since 1998. I have a story and a vivid memory for each conference I have attended over my career, but the best part of each conference has been networking with my peers. The CSMFO Annual Conference provides exceptional training, but it is the networking that is priceless.</p><p>In closing, I hope you enjoy the Annual Conference in Anaheim and truly appreciate the benefits it can provide to improve your experience in municipal finance and further your career. </p><p>Whats your favorite CSMFO Annual Conference memory? </p><p>Email your story to melissa.dixon@staff.csmfo.org for a chance to be highlighted </p><p>in the April issue!</p></li><li><p>CSMFO.ORGCSMFO MAGAZINE MARCH 2016</p><p>EXECUTIVE DIRECTORSLETTERMELISSA DIXON</p><p>He outlined how wonderful CSMFO was as an organization, how dedicated were its volunteers, how important to the profession were its programs. And then he suggested that the current communications with the members didnt measure up. We should, he said, have a monthly publication that made people excited to read it and proud to be featured in it. And he was right. He sold me on that idea, and together we pitched it to then President-Elect John Adams. John liked the idea and suggested David attend the CSMFO Planning Session in September, where he could pitch his new concept to the Board. He did and they loved it. And now five months later, here we are with the premiere issue of the newly envisioned CSMFO Magazine.</p><p>A Communications Task Force was created to help drive editorial content for the new Magazine. For this first issue it was decided that, along with some subject-matter content, we should focus on getting to know CSMFO. An introduction, if you will, to how CSMFO operates. To that end youll find in this issue a feature on the staff at Smith Moore &amp; Associates (SMA) that work on CSMFO. Youll find some highlights on the educational programs and webinars, and some snippets from some of our more active chapters. Youll also find an overview of the Program Committee, which has the massive undertaking each year of setting the educational content for the CSMFO Annual Conference.</p><p>INTRODUCING CSMFO</p><p>Speaking of the Annual Conference, as I write this the registration for the 2016 CSMFO Annual Conference has not yet closed online registration and this is already the largest conference ever. We were hoping to break 1,000 attendees with this years event and boy did we do thatwith just the early-bird registration. Weve also completely sold out our exhibit hall and all our sponsorship opportunities. Your response to this event has been extraordinary and humbling. (More on that in April!)</p><p>Im so proud to be part of this organization, and to be premiering this new publication at the Happiest Place on Earth. May you enjoy both as much as I do.</p><p>As an employer, Im always pleased when my staff get excited about their work. When they look beyond the task as its given to them and see the potential for something greater. Thats the case with this Magazine. David Garrison, a designer who began with CSMFO early last year, spent several months doing the MiniNews exactly as it has been for years. Then one day he came into my office and suggested it could be better.</p><p>MELISSA DIXON FACTSMelissa also runs a non-profit organization as her hob-by--a theatre company called The Alternative Arts Collective.</p></li><li><p>CSMFO MAGAZINE MARCH 2016CSMFO.ORG</p><p>9</p><p>Clearwater is a real time-saver. Whether analyzing daily </p><p>transactions or creating...</p></li></ul>