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Council delays hiring a permanent finance director, asks for holistic long-range financial plan
Summary
After lengthy debate about costs, ERP needs and long-range forecasting, the council declined to start active recruitment for a permanent finance director and asked staff and consultant LSL to provide a stepwise long-term financial modeling and reserves plan before moving forward.
Palos Verdes Estates — The council on Feb. 10 considered whether to begin recruitment for a permanent finance director. Staff presented compensation-study ranges and asked whether to start a search and, if so, what salary range and job modifications to include.
Council members raised several concerns: the city’s long-term liabilities (pension and reserves), the need for a modern financial system (ERP) and whether the city can afford a full-time director versus a fractional or outsourced arrangement while those larger issues are settled. Multiple council members praised consultant LSL’s work to stabilize finance operations but said the city should not rush into hiring without a coordinated plan that addresses systems, reserves and pension liabilities.
The council’s working direction was to postpone active recruitment, continue using LSL as the primary support provider, and request a proposal from LSL and staff for long-range forecasting, reserve studies and a phased plan that would inform any future recruitment and ERP procurement.
No formal motion to recruit was put forward; the council agreed to return to the topic after receiving a holistic plan and estimated costs.
