(From Press Release) – The City of Davis announced today that City Manager Mike Webb has named Elena Adair, as the City’s new Finance Director. Ms. Adair is currently the Director of Finance for the city of Alameda, Calif. where she has served for the last five years. She will start her new position in Davis on March 16, 2020. She is credentialed both as a Certified Public Accountant and a Certified Public Finance Officer.
“The City is incredibly fortunate to have Elena Adair joining our team as our Finance Director,” said Mike Webb, Davis City Manager. “With over 17 years’ experience in municipal finance, Elena brings a wealth of experience and progressive best practices that will help the City continue on its path of fiscal sustainability and responsibility.”
“I look forward to working closely with City staff to implement strategic finance plans that will ensure fiscal transparency,” said Adair. “One of my goals is to convey complex financial information to the public in easily understandable terms.”
Adair began her career at a Bay Area accounting firm, and has served for over 13 years in a variety of municipal finance roles. She is a graduate of St. Mary’s College of California, holding a bachelor’s of science degree in Accounting and Business Administration.
We got an accountant when we need a majician. I hope she knows how to pull a rabbit out of a hat.
Best wishes in your new post Ms. Adair.
We just need revenue. You should focus as hard on pushing for ARC as you are on defending Provenza (who needs none).
My first agenda item with her will be to have her revisit the enterprise fund reserve target written by the last finance director as he was walking out the door. That’s costing us at least $8 million. See my write up on the issue here:
https://mcubedecon.com/2020/02/18/davis-should-set-its-utility-reserve-targets-with-a-transparent-and-rigorous-method/
Richard… reviewed your cite… agree with most, but as an engineer with COD for over 32 years, “stuff happens”… big $$$ needed in catastrophic circumstances… but your points about risk analysis are well taken, based on history and current practices, reasonable projections… the ‘outlier’ as to solid waste is interesting, but not especially troubling, depending on “trends”.
Per year, or in toto?
Your issue is valid, but all should understand that ‘enterprise funds’ are NOT GF… only ‘remedy’ is decreasing utility rates… and, trusting in that, and “stuff happening” to reduce those reserves… I would not support reducing reserves, but could espouse not increasing them, unless there was the risk analysis you espouse…
Please have that conversation, though… but remember, the new Director hasn’t even gotten their ‘toe in the water’, yet… don’t expect any “commitments”… that would not be fair…