What's Happening?
The City of Milwaukee is actively recruiting a Water Financial Manager for the Milwaukee Water Works (MWW). This pivotal role involves organizing, coordinating, directing, and administering the financial activities of the utility. The manager will serve
as the utility’s fiduciary, ensuring its financial viability, and will coordinate with various city offices, including the Comptroller, Budget and Management Division, and City Treasurer, to develop MWW's financial picture and balance sheets. Key responsibilities include reviewing financial statements prepared under both Generally Accepted Accounting Principles (GAAP) and Public Service Commission of Wisconsin (PSC) accounting, maintaining detailed inventory and cost records, and managing debt services, financing applications, and grant applications. The position also entails preparing spending and revenue projections and developing strategies to meet the utility’s financial needs.
Why It's Important?
This position is critical for the continued provision of safe, high-quality drinking water to the residents of Milwaukee, directly impacting public health and essential services. Effective financial management of the Milwaukee Water Works ensures the utility's long-term sustainability, allowing for necessary investments in infrastructure and comprehensive water quality monitoring programs. The Water Financial Manager's role in rate and revenue management, including preparing applications to the PSC for rate adjustments, directly influences the cost of water for consumers and the utility's ability to fund operations. Sound financial oversight prevents service disruptions, maintains infrastructure integrity, and ensures compliance with regulatory standards, all of which are vital for urban stability and resident well-being. The financial health of public utilities like MWW is a cornerstone of municipal functionality and economic stability.
What's Next?
The Water Financial Manager will be responsible for developing short- and long-term goals for the Business Section and establishing policies to achieve them. This includes providing guidance to the Water Accounting Manager and Water Business Operations Manager, ensuring compliance with GAAP and PSC regulations, and implementing improvements for productivity and efficiency. The manager will also oversee the billing and collection of significant water and other municipal services revenues, and manage the annual operating and maintenance budget. Furthermore, the role involves responding to public inquiries and complaints, and representing the utility in financial dealings with other public and private agencies and regulatory bodies. The successful candidate will be expected to lead and mentor staff, foster a collaborative work environment, and contribute to the overall strategic direction of the Milwaukee Water Works.
Beyond the Headlines
The role of a Water Financial Manager extends beyond mere accounting; it embodies the complex interplay between public service, infrastructure management, and financial stewardship. The position highlights the critical importance of robust financial planning in maintaining essential urban services, especially in the face of aging infrastructure and evolving regulatory demands. The need to balance debt, operational expenses, capital needs, and revenues reflects the broader challenges faced by municipal utilities across the U.S. This role also touches upon environmental justice, as equitable water rates and reliable service are fundamental rights. The long-term implications involve ensuring that public utilities can adapt to climate change impacts, technological advancements, and population growth, all while remaining financially solvent and accountable to the communities they serve. The manager's decisions will influence not only the financial health of MWW but also the quality of life for Milwaukee residents for decades to come.
