NEW SMYRNA BEACH, Fla -- The city's finance director has put away her calculator and turned in her balance sheet for the final time.
Carol Rogers actually stepped down March 19, but with accrued time, her last official day before retirement was Wednesday, having been with the city a little more than a year on the job.
"I'm getting off the firing line," joked Rogers, who turned 68 on Saturday.
Rogers was hired here from Longwood on Feb. 2, 2009, and was earning $84,000 this fiscal year, which began Oct.1. Rogers had a trying year with the city budget with increases in spending and decreases in revenues that saw the city take $968,000 just to fund the current year's budget, following a trend of several years of dipping into the city's reserves. And the situation doesn't look any rosier in the next fiscal year, which should be even more trying for her successor and City Manager Pam Brangaccio.
"We're projecting a 16 percent decrease in property values," Rogers said of the fiscal 2010-'11 budget. On top of that, the city already has a projected revenue shortfall of $1.4 million, and that's with using an additional $350,000 in reserves.
"We're projecting a 16 percent decrease in property values," Rogers said of the fiscal 2010-'11 budget. On top of that, the city already has a projected revenue shortfall of $1.4 million, and that's with using an additional $350,000 in reserves.
The city has just slightly under $10 million in reserves, but must keep a 90-day window on hand at all times, per order of the city manager to handle emergencies -- roughly $6.2 million.
Rogers stayed on an extra few weeks than originally planned to complete the auditing of the city's finances.
Among the goals Rogers said she completed over the past year:
* Adopted new purchasing and IT policies;
* Set up the 90-day reserve funding mechanism;
* Set up regular monthly budget updates and projections on revenues and spending.
Rogers, who gave the city a four-week notice, said she'll miss the job, her staff of seven and her longstanding affection for New Smyrna Beach as her son helped build the St. John the Fisherman Church. She will be replaced, at least on an interim basis by Althea Philord, the assistant finance director, who previously served as an interim for a couple of months before Rogers was hired.