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Finance director asks aldermen to reconsider pay-grade upgrades for specialist positions
Summary
Finance Director Peter Iredici told the Board of Aldermen that several long-serving specialist positions have fallen behind market pay; he asked the board to review documentation and consider regrading four specialists and upgrading the deputy tax collector, while noting the department budget overall is slightly down.
Peter Iredici, Milford’s finance director, told the Board of Aldermen on April 27 that the finance department’s work volume and complexity have increased and that several specialist positions have not kept up with evolving responsibilities or market pay. "Those positions, to my recollection, have not received an increase besides the normal COLA or the contractual cost-of-living increases," Iredici said, adding division heads have asked the city to reconsider upgrading job grades for two accounting specialists, a purchasing specialist and a treasury finance specialist.
Iredici told the board the department processed close to 19,000 invoices last fiscal year and has seen invoice volume rise to 14,000 so far in the current fiscal year. He said the department also launched an AP virtual-card program that has produced roughly $18,000 annually in revenue share and about $95,000 into the general fund since fiscal 2022.
Why it matters: Aldermen pressed for documentation showing market comparables and the financial impact of the requested upgrades. Alderman Healy asked when the five positions last received increases and whether a market analysis was done. Iredici said most changes were limited to COLA adjustments under union contracts and that he would forward the division-level research and market-comparison materials to the entire board.
Details and fiscal impact: Iredici said the city-wide request to regrade and upgrade multiple positions — if it included creation of a deputy finance director — would total about $216,001.96. Excluding the deputy finance director position, he estimated approximately $86,000 in upgrades for the four specialists and a deputy tax-collector grade change. He also confirmed some positions are covered by the Milford Employee Association contract, which includes routine COLA steps that are pending ratification.
Board next steps: Alderman Healy asked for the market-analysis documentation so the board can weigh reallocating funds or adjusting the proposed budget. Iredici agreed to circulate the supporting materials to the whole board before further action.
