Orchestrating the Finance Function & Its Role in the Organization

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2 Orchestrating the Finance Function & Its Role in the Organization GFOAT Fall Conference, Richardson, Texas Thursday, October 24, 2013 Dan Johnson, City Manager, City of Richardson, Texas 2

3 An Orchestra Within an Orchestra 3

4 An Orchestra Within an Orchestra The Finance Role is Just One of Many Organizational Functions Yet The Concert Master s Role You Both Manage a Team and are Part of a Wider Team 4

5 The Orchestra Your Finance Dept. Orchestra Violins Accounting Finance * Violas Payables Police Cello Treasury/Banking Fire Bass Debt Management Parks Brass Taxation & Other Receivables The City Orchestra Human Resources Woodwinds Risk Health Services Percussion Economic Development Development/Planning Piano Budgeting Public Works 5

6 Know the Score 6

7 Know the Score A Score is the whole melodic composition It defines and organizes What s the purpose/objective What instruments How many When they participate Is this music Free Form/Improvisational or Structured? Orchestrating your team begins with understanding your role in the big objectives Notice that you turn the pages faster as the conductor! Multi-channel thinking/scanning 7

8 Keep the Beat 8

9 Keep the Beat Follow the Conductor! Who s the conductor? The beat is the pace it organizes everything! When to play, when to not play What pace did the composer have in mind? What beat do you establish? Can you hold the beat steady? Can the pace allow for the effective accomplishment of your goal? Steady beat can be important but steady can also be monotonous! Rhythm a pattern of the movement 9

10 Stay in Tune 10

11 Stay in Tune The powerful role of being and getting in tune Perfect A Role of the pitch-pipe In Tune is a concept of community/organization can you be out of tune alone? How often does an orchestra check to confirm they are still in tune? Key time to check tune: Before you start! After a brisk effort If conditions/ temperature change! 11

12 It Often Starts With Just a Tune 12

13 It Often Starts With Just a Tune How does a masterpiece begin? Scribbled notes A tune/ditty or rhythm A borrowed experience bird call, swan movement, gunfire, etc. We are often asked to embellish and complete work with just a sketch or hint for a start (a chance to add value) 13

14 Sometime Solos, Sometimes Ensembles 14

15 Sometimes Solos, Sometimes Ensembles A strong orchestra is made of strong individuals Sectionals and solos can quickly assess weak members who is hiding among the noise? Melodies are often Passed Around with different instruments a chance to hear the same message through different means. Music can be made be beating, by blowing, by stroking.so many ways!!! The beauty of team work/ensemble.the beauty of individual performance/solo 15

16 Practice, Practice, Practice 16

17 Practice, Practice, Practice We all start at the beginning All the ingredients for success must be present Internships, Mentoring, Training are practice Risk Assessments are the essence of practice Control Weakness Assessments Emergency operations Continuity of service 17

18 Reviews, Critics, and Experts 18

19 Reviews, Critics, and Experts Music reviewing, like movie reviews, is an interesting activity!...eyes of the beholder/your point of view Transparency Movement has added folks to the list! Bond Rating Agencies are known reviewer at least you know the criteria! New disclosure requirements, actuarial assumptions, accounting pronouncements are being used as the embedded compliance indicator for policy debates. Can we politically handle the truth? How does it feel to be the bearer of these messages? 19

20 The Recital Called The CAFR 20

21 The Recital Called The CAFR A document that is part solo, part ensemble! You don t get to invite the only guest you want to hear it! It happens every year The CAFR has many parts, yet is a powerful summary of the whole. The Finance Department can shine and well-represent the organization. It can reveal signs of health or signs of weakness. 21

22 Our Service, Like Music, Serves Many Music expresses that which cannot be put into words and that which cannot remain silent Victor Hugo Purposes 22

23 Our Service, Like Music, Serves Many Purposes Music is a universal expression and conveys meaning and emotion for all our human experiences. Music can be simple or complex It is old and also contemporary It is analog and digital When done well, good Finance is as transporting as a beautiful concerto. We are task to take the fiscal notes of our organization and orchestrate a numeric symphony. 23

24 The concept of professional, artist, virtuoso can apply to all of our abilities including Finance. Thank You! Take a Bow! 24