Chief Financial Officer

Position Overview

The Chief Financial Officer (CFO) manages and directs the fiscal functions of the agency. This role provides financial analysis for the guidance of management and the CEO, establishes financial policies and objectives, prepares financial and governmental reports and directs the preparation of budgets and financial forecasts. Assists the CEO in management functions and may act in the CEO's behalf during absence.

• Directs the operations of the accounting department so that payroll, accounts receivable, accounts payable, and the general ledger are in compliance with GAAP.
  • Oversees the duties of the members of the department.
  • Provides leadership in the implementation of agency and departmental policies and procedures.
  • Reviews performance of each subordinate in writing at least once a year and recommends salary changes.
  • Oversees tax returns and files with federal and state governments.
  • Provides technical/programming support and advice.
• Assumes responsibility for self-development so that legal and fiscal procedures are adequately implemented to keep the agency in compliance.
• Comply with Hiawatha Homes’ Staff Development requirements and attend/participate in Professional Development as needed or directed.

• Prepare annual budget (activities statement and capital improvements) based on data available from HH Leadership, historical records and funding sources so that the agency operates within budgetary guidelines.
  • Discusses income and expenditure expectancies with CEO.
  • Interprets economic factors that influence the operations of the agency.
  • Studies requirements of funding sources.
  • Presents data to CEO, Treasurer and Finance Committee for advice and comment and to the Board of Directors for review and approval.
• Assists the Foundation with program budgets, needs identification, and reports so that the charitable fundraising is based on accurate and timely information. Duties may include but are not limited to a) preparing budgets and assembling information; b) oversees accounting functions for the Foundation, and c) preparing fiscal reports for CEO and Board of Directors.
• Oversee cash flow of the agency to ensure overall payroll, taxes and other payables are processed and receivables are collected in a timely manner.

• • Establish and negotiate lines of credit in collaboration with CEO.
  • Review Foundation accounts for operating funds and participates with investment committee to monitor investments.
  • Oversees transfer of funds between checking and money market (savings account) as required to be current with obligations and optimize interest income.
  • Identifies sources of funds for special and capital purchases.
  • Provides analysis of leasing and purchases where appropriate.
• Maintain accounting system.

• Maintains a working knowledge of the government funding rules that apply to agency programs. Interprets and applies rules so government funding is optimized.

• • Has a working knowledge of residential and related program funding rules.

• • Participates in the process of rule making with organizations that influence, develop and modify funding rules.

• • Provides leadership to Program Directors in negotiating contracts and rates.

• • Review expense, unit of services, and other reports as required by the government funding source like Room and Board or hourly programs.

• • Oversee supplemental internal reports and year to date budget performance information by program so Program Directors are aware of status of controllable cost, hours, food and supplies.

• • Provides budget documents supporting budget rates to the county and State of Minnesota.

• Participate in the renewal of insurance coverage including health insurance, worker’s compensation, professional liability, building and contents

• • Meets with insurance agent and CEO annually to review coverage and make recommendations to the Board of Directors.

• • Participates in the preparation of insurance bid/renewal application process coordinating response to carrier questionnaire.

• Other negotiations analysis as needed.
• Recommend technology to permit electronic communication internally and externally. Work with managed service provider to maintain cyber security protection.
• Recommend technology and revision as needed to the Board of Directors.

• Presents monthly and year to date actual to budget financial statements to the Finance Committee and Board of Directors.
• Prepares in-depth analysis as needed or as requested.