Young Named Costa Mesa Finance Director

LOBDELL ANNOUNCES THE PROMOTION
Costa Mesa Interim Communication Director Bill Lobdell announced in a Press Release today that Budget and Research Officer Bobby Young has been promoted to the position of Finance Director, filling the vacancy created with his predecessor, Marc Puckett, departed nearly two years ago. The text of that Press Release is provided for your reading pleasure below.


AN EXCELLENT MOVE
In my view, this is an excellent move by Chief Executive Officer Tom Hatch. In many ways, since Puckett's departure under curious circumstances, Young has performed many of the duties normally expected of a Finance Director. He and Assistant Finance Director Colleen O'Donoghue keep things moving in a very stressful time. Earlier this year Larry Hurst, a long-time Municipal Finance guru, was hired as the Interim Finance Director to help with what was going to be a prodigious effort to produce a balanced budget under the constraints of a completely new way of looking at our finances by the new City Council.

YOUNG DESERVES THIS POSITION
Since Puckett's departure Young has performed with distinction - something almost impossible to ignore since so much time and energy was focused on financial matters. Not only has he done a great job under the most trying of circumstances, but he has maintained the highest levels of professionalism while doing it.

CONGRATS AND KUDOS
Congratulations to Bobby Young, and to Tom Hatch for this excellent move.

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Bobby Young Promoted to Costa Mesa Finance Director

COSTA MESA, CALIF.— Chief Executive Officer Tom Hatch today promoted Bobby Young, the City’s budget and research officer, to the position of finance director.

Young had been performing most of the duties of the finance director—including preparing the City’s annual budget and negotiating with employee associations—since September 2009, when the position was left vacant because of budget challenges.

“We’re very pleased Bobby accepted the position,” Hatch said. “He’s done excellent work for the City and earned respect both inside City Hall and in the community. We interviewed many quality candidates, but Bobby’s knowledge of the City and his track record of excellence made him my top choice.”

Young, a Costa Mesa resident, has worked in government finance for 15 years, starting as an auditor of local government and nonprofit agencies. He was hired by the City of Costa Mesa in 2001 as the accounting supervisor and was promoted in 2007 to budget and research officer.

In 2005, Young was named the City’s Employee of the Month for his contributions to revamping Costa Mesa’s annual audit and Comprehensive Annual Financial Report (CAFR).

He’s also involved in community organizations, serving currently chief financial officer and board member of Leadership Tomorrow, a local nonprofit, and often volunteering as a team leader for Neighbor for Neighbor events.

Young received a Bachelor of Arts degree in accounting from Cal State Fullerton. He and his wife, Kathleen, have two children.

4th Quarter Sales Tax Numbers Announced!

HOT OFF THE PRESSESInterim Finance Director Larry Hurst released the 4th quarter Sales Tax numbers yesterday afternoon. You can read his 15 page report HERE, or locate the link on the City Home Page. One might assume that City CEO Tom Hatch will talk about this report at the City Council meeting this evening.

TRENDS WILL DICTATE BUDGET STRATEGY
These are the last actual numbers the City will receive before finalizing the 2011-2012 budget, so any trends demonstrated within them will be highly influential in the composition of the new budget.


A BALANCED BUDGET AHEAD
Based on a quick look at these numbers, it appears to me that the City of Costa Mesa will likely end up with a balanced 2010-2011 budget - perhaps with a small surplus. That really doesn't mean anything when it comes to next year's budget, though, because our current ruling junta seems determined to somehow fabricate a budget crisis that will precipitate more layoffs and, subsequently, release the city from a big chunk of it's pension burden.

BUDGET BRIEFING TUESDAY
Next Tuesday, April 26th, at 4:30 p.m. the City will hold a Budget Briefing as part of a special Study Session. It is assumed that experts in PERS will be on hand to present a view of our situation. This can only be viewed as a good thing, since there seems to be so little trust in the way the numbers are being messed with by our current council.