What are the responsibilities and job description for the Manager of Capital Budget position at City of Cambridge, MA?
ABOUT THE ROLE
The Manager of Capital Budget reports to the Assistant City Manager/Fiscal Affairs and supports the development and implementation of the City’s long-range capital investment plan. The ideal candidate will have strong leadership, organizational, and communication skills, and possess a strong knowledge of capital projects budgeting and financing in the public sector. The City’s five-year capital plan of $700 million supports a portfolio of capital infrastructure projects including street and sidewalk reconstruction, water and sewer infrastructure, and municipal and school buildings improvements.
KEY RESPONSIBILITIES:
Capital Budget Planning & Strategy
- Collaborate with senior leadership and department directors to develop/update the City’s long-range capital budget strategy.
- Conduct analyses using historical and projected data to frame issues and identify potential solutions.
- Develop and maintain a long-range capital budget planning model to monitor progress against established debt management and financial benchmarks.
- Implement best practices in capital planning processes, tools, and systems to drive efficiencies.
- Create presentations for City leadership, City Council and other public meetings.
Capital Budget Development and Oversight
- Coordinate the annual capital budget process.
- Monitor capital expenditures and prepare detailed reports on capital budget performance.
- Work closely with project managers, department heads, budget and financial analysts to support capital budget requests, track capital project progress and ensure budget compliance.
Debt Management
- Maintain information and data related to debt issuance, including arbitrage requirements, project level authorized and issued debt, and ensure compliance with terms of debt agreements.
- Collaborate with project managers and department heads to develop detailed financing and bonding plans for capital projects on the multi-year plan.
- Coordinate the annual rating agency presentation process and documentation required for bond sales in collaboration with the Budget Dept.
- Identify financial risks and recommend necessary actions to mitigate any potential impact on the capital budget.
- Ensure compliance with internal financial policies and external regulations related to capital budgeting, and debt requirements. Update policies as needed to reflect best practices.
MINIMUM REQUIREMENTS:
Education:
Bachelor’s degree in Finance, Accounting, Business Administration, or a related field. A Master’s degree in business or public administration is preferred.
Experience:
7 years of experience in professional level budget, financial and analytical experience in public sector or large organization
5 years of experience managing teams and/or complex financial processes.
Experience with capital budgeting and financing of public infrastructure projects.
Knowledge, Skills, and Abilities:
- Proficiency in financial management software and budgeting tools.
- Knowledge of capital budgeting methodologies and financial analysis, and project management principles.
- Expert quantitative analysis and critical reasoning skills
- Excellent communication and interpersonal skills.
- The City of Cambridge's workforce, like the community it serves, is diverse. Applicants must have the ability to work and interact effectively with individuals and groups with a variety of identities, cultures, backgrounds, and ideologies
SUMMARY OF BENEFITS:
Competitive benefits package including:
- Competitive health, dental, and vision insurance
- Vacation and Sick leave eligible
- Sick Incentive Pay Eligible
- 3 Personal days
- 14 Paid Holidays
- Management Allowance, $2700 year
- City employee transportation benefits (T-Pass reimbursement, Bluebikes membership, EZRide Shuttle)
REQUIRED DOCUMENTS:
Please upload the below documents to complete your application:
- Resume
- Cover Letter
ABOUT THE CITY OF CAMBRIDGE
The City of Cambridge is a diverse and vibrant community that 120,000 residents of different ethnic, racial, religious, U.S. nationals and other backgrounds call home. We take pride in our City’s diversity and strive to create a workplace that is reflective of the community we serve - one in which all employees can thrive. The City is also deeply committed to creating an environment in which all our employees are treated equitably and feel included. In joining our team, you would work in a workplace environment that advances and values antiracism, diversity, equity, and inclusion (ADEI), and that is committed to embedding ADEI best practices and tenets in all aspects of our work. City of Cambridge residents are especially encouraged to apply to job openings.
EQUAL OPPORTUNITY / AFFIRMATIVE ACTION
The City of Cambridge is an Affirmative Action/Equal Opportunity Employer and does not discriminate based on race, color, sex, religion, age, national origin, disability, or any other protected category. Women, minorities, veterans, members of the LGBTQ Community, and persons with disabilities are encouraged to apply. The City is committed to advancing a workforce culture of antiracism, diversity, equity, and inclusion. Auxiliary aids and services, written materials in alternative formats, and reasonable modifications in policies and procedures will be provided to qualified individuals with disabilities free of charge, upon request by contacting Human Resources at humanresources@cambridgema.gov.
Salary : $700 - $2,700
