Finance Manager

This is an abbreviated posting, for the full requisition, requirements, and submission criteria see the Request for Proposals Finance Manager RFP No. 24-02 document on the Sites Project Authority website here.

Overview/Background

The Sites Project Authority (Sites Authority) is soliciting Request for Proposals (RFPs) from independent contractors and/or firms (each a Respondent) interested in providing financial and cost accounting management services for the implementation of the Sites Reservoir Project (Project) – a proposed 1.5 million acre-foot off-stream reservoir located approximately 10 miles West of the town of Maxwell, California.

The Sites Authority intends to award a contract to a well-qualified and cost-effective independent contractor and/or firm that demonstrates extensive suitable experience with providing, among other things, financial and cost accounting management services (duties to be performed would be similar those performed by a Finance Director in a California public water agency. These services are required to support the Sites Authority’s current and future needs, which are primarily focused on the development and operation of an off-stream surface water storage project serving water agencies across the State along with the State and Federal government.

The intent is to contract with a single person or firm for the entirety of the services. However, the Sites Authority reserves the right to enter multiple contracts depending on the final evaluation of the respondents. The objective of this scope of services is to fill a critical senior management-level position within the senior leadership team overseeing the implementation of the Project. The position serves in a staff-type role and oversees the finance, financial planning, cost accounting, accounts payable, accounts receivable, financial reporting and the contracting/procurement functions with support of various key consultants and support consultants. The detailed scope of services anticipated for this position is addressed in Section 2.0. A current organization chart is attached as Attachment B. A potential future organization chart during construction is also attached as Attachment C to illustrate the expected changes to the duties of this position which are expected to occur over the next 3 to 5 years.

The Finance Manager is envisioned to evolve into the position shown on the future organization chart as the Administrative Director. The Finance Manager will be part of the senior leadership team led by the Executive Director and made up of peers, including the Environmental Planning and Permitting Manager, the Engineering and Construction Manager and the External Affairs Manager. The Sites Authority has contracted for finance, financial planning and accounting support services, including project controls support with Brown and Caldwell, bond counsel services with Stradling, Yocca, Carlson and Roth, municipal advisory services with Montague DeRose and Associates, accounting services with Pinion LLC, and owner’s advisory services with Brian G. Thomas Consulting LLC.

The Project

The Sites Reservoir is located 10 miles west of the town of Maxwell in rural Glenn and Colusa counties. This Project will be up to a 1.5 million acre-foot off-stream surface water storage facility. It will divert stormwater flows from the Sacramento River, after all other water rights and regulatory requirements are met, for subsequent release for environmental use and use by California communities, farms and businesses when called upon, primarily planned for use in drier years. It will be the state’s 8th largest reservoir and 2nd largest off-stream reservoir when built and would increase surface water storage in the Sacramento Valley in the range of 15%. For additional Project location and other Project information please visit the Project website www.sitesproject.org.

The Project expects to achieve an “investor commitment” milestone signifying the transition from Phase 2 (Planning) to Phase 3/4/5 (Final Design, Construction, Operations) within the next 18-24 months, following receipt of a water right permit from the State Water Resources Control Board. The Project is funded through cash contributions from the 22 public agencies, dues from the 11 Authority Board members, and reimbursements from State and Federal funding agreements. Upon transition to Phase 3/4/5, the project funding is expected to be financed mostly from loan agreements that are yet to be executed. The 2023 Audited Financial Statements and Single Audit are available here: https://sitesproject.org/financial/.

The Project is a large capital project that over the past few years has gained momentum and is on a fast-track to get operationally complete by the end of 2032. Late last year, the Sites Project was determined by the Governor and California Legislature to be a critical piece of new water infrastructure, which qualified certain project activities for special judicial streamlining and permit expediting. Given these and other factors, the work environment is fast-paced and dynamic, requiring a Finance Manager who can be strategic and thoughtful while also rolling up their sleeves and performing any task needed to keep important project elements on track and progressing. The Sites Authority will be a new public water agency, and the Finance Manager will play a key role in developing the systems and processes that will set the course of the Sites Authority’s future operations. Financial management and cost control have been identified as one of the core competencies the Authority will need to develop for its future success. 

In addition to quickly becoming familiar with the day-to-day activities, systems and processes that are already in place around finance and cost control, a key part of the need for the position is to bring an individual into the organization who can look ahead, identify and then implement the critical elements of financial and cost accounting support that are lacking and will be needed to ramp up with the project implementation. Some of the early tasks that have been identified include:

• Developing a chart of accounts to encompass the built project and support asset management that will be necessary for effective operations.
• Evaluating and selecting a software system that can readily accommodate the needs during construction and evolve to meeting the needs during operations.
• Evaluating and addressing needs within the areas of policies and procedures.
• Developing and implementing accounting and reporting systems to track project costs and revenue sources by Participants, as well as the state and federal government.
• Ensuring that cost accounting and reporting comply with all federal and state requirements.
• Implementing a more advanced financial planning model to forecast capital expenditures and financing sources.

Anticipated Scope of Services and Minimum Requirements

• See Attachment A for a description of the roles and responsibilities of the position. This will serve as the scope of services for the contract, with revisions as needed.
• The expected level of effort for these services is 1.0 full-time equivalent. If proposed as an independent contractor, the individual is expected to have already been established as a business entity. If proposed as a firm, it is expected there would be a dedicated individual assigned to perform the duties and would be “firewalled” from the firm through alternate contract terms. The individual may draw from others within the firm for support. However, the approach must, at a minimum, dedicate the individual to Authority staff.
• The work location is generally remote, with in-person attendance required for all monthly board meetings in Maxwell, CA, and other in-person meetings as determined to be necessary and held in various locations, mainly within California.
• The position has dual roles. In terms of the organization role, the individual needs to be able to interact, align with, and support effectively the other areas of the team and the Board. In terms of the Finance role, the individual needs to be able to lead a team of consultants ensuring that high standards for financial and cost controls are set and met, and that the finance team is supporting the project in the manner needed for overall project success.
• The minimum qualifications are as follows:

Any combination of experience and training that would provide the required knowledge and abilities qualifies. A typical way to obtain the required knowledge and abilities would be:

Education: Equivalent to a Bachelor’s degree from an accredited college or university with major coursework in accounting, business or public administration or a related field.

Experience: Eight years of increasingly responsible experience in professional accounting and financial management, including three years of significant administrative and managerial experience either working/consulting for a public water agency or working/consulting for an owner entity that is involved in implementing a large program that includes public agency, state and federal government investment.

Knowledge, Skills & Abilities:

• Knowledge of principles and practices of governmental and utility accounting and financial management, including payroll, general ledger, customer billing systems and financial reporting for government entities.
• Principles and practices of debt financing, including long-term capital financing and bond marketing strategy, including rating agency communications needs; annual financial reports and external audits; customer services and public relations techniques; information systems and procedures as used in financial applications; pertinent local, State and Federal laws, rules and regulations; organizational and management practices as applied to the analysis and evaluation of programs, policies and operational needs; principles and practices of organization, administration and personnel management; principles and practices of budget preparation and administration; principles of supervision, training, employee development and performance evaluation; knowledge of water rate making standards, principles and methods.
• Ability to plan, direct, lead, and control the administration and operations of all aspects of a typical water utility Finance Department, including forecasting and planning for financial issues affecting the Authority and preparing alternatives, analyses and recommendations for action.
• Continuously prepares and analyzes budget and technical reports, including interim financial statements; interprets and evaluates staff reports; understands Governmental Accounting Standards Board accounting standards, knows laws, regulations and codes; observes performance and evaluates consultant and staff; problem solve project related issues; consistently enforce various personnel rules and requirements; and develop, explain and interpret policy.
• Develop and implement policies and procedures related to procurement of goods and services, justify investment decisions, ensure timely billings and payments of liabilities, etc.
• Work effectively with board members and the Finance Departments in the Agencies, Authority Agents and consultants at all levels of the organization. 
• Gain cooperation through discussion and persuasion.
• Successfully develop, control and manage budgets and expenditures.
• Analyze problems, identify alternative solutions, project consequences of proposed actions and implement recommendations in support of goals.
• Interpret and consistently apply Authority policies, procedures, rules and regulations.
• Communicate clearly and concisely, both orally and in writing.
• Supervise, train and evaluate assigned personnel and consultants.
• Establish and maintain effective working relationships with those contacted in the course of work.

General Proposal Requirements

The Request for Proposal (RFP) 24-02 issue date is September 23, 2024. Prospective RFP respondents may submit written questions about this RFP via email to: jbrown@sitesproject.org.

Receipt of the following material in a proposal by the respondent is required by Noon on October 25, 2024 for a respondent to be considered: The proposal shall include the following:

Letter of interest referencing RFP No.24-02. Sections: Entire proposals are limited to no more than 5 pages (page size of 8.5 by 11 and 11-point font minimum) not including transmittal letter, inclusive of the following information at a minimum.

1. Resume and contact information.
2. List five relevant work-related references to these services (who will not be contacted until after an interview).
3. Disclosure of real or perceived conflicts and approach for addressing.
4. Identify any proposed contract exceptions and confirm the ability to fulfill insurance and indemnification contract requirements.
5. Proposed Billing Rates (these services are intended to be paid on a fully loaded retainer basis, i.e., dollars per month).