By Kyle Sawyer, Senior Fiscal Consultant
and Beth Downes, Municipal Advisor

Best Practices for New Municipal Finance Staff & Leaders

Congratulations, you’re the new kid on the block!  Welcome to your new role in local government. Now what? Whether you’ve moved from a different entity, received an internal promotion, or transitioned into a brand-new role, you can feel overwhelmed about how to take on this new challenge.  Fear not! By following a few simple, yet essential best practices, you’ll feel more secure in your position and be able to make meaningful contributions to your community.

First, to get where you want to go in a new role, you need to know where others have been before you.  Familiarize yourself with the entity’s history, including budget-to-actual financial results, long-term capital and operational plans, internal processes, current goals, and long-term strategic initiatives. Ask yourself, “What did my predecessor do well and where is there room for improvement?”  Acknowledge the hard work of those that came before you, but don’t be afraid to ask critical questions about work processes and challenge the “we’ve always done it this way” mentality.

Second, it is essential to make meaningful connections with others in your organization.  Meet with department heads to learn their roles and expectations of you and your department.  Get to know your elected officials, how their meetings are run and the means of communication they prefer.  Schedule regular meetings with your supervisor to continually evaluate your transition into the role and seek feedback on your performance. It is challenging to learn and grow in a new position without obtaining constructive guidance; take the advice you’re given to heart!

If it’s your first time in a leadership position, you’ll quickly learn that the culture of your department dictates how effective you are as a team.  Building relationships is vitally important in creating a healthy culture and building consensus for doing things differently. Make work fun with icebreakers, personality assessments or outings. Lunch is always a  great motivator and helps you to connect with your team on a more personal level.  Additionally, a key trait of strong leadership is modeling the behavior you want to see; be sure to establish (and maintain) clear boundaries for your time and your team will follow suit, resulting in a more positive work/life balance for everyone.  A positive work culture breeds confidence and trust in your leadership;  it will also make it much easier to gain buy-in from your team when it’s time to make changes or update processes.

Finally, reach out!  Obtaining memberships in State and National Associations affords not only technical training and continued education but allows for innumerable networking opportunities.  Positions in local government have the advantage of “working in the sunshine,” so it’s encouraged to collaborate with your peers and other entities for the best way to put new ideas into action.  Lean on your internal experts, municipal advisors, and consultants to provide expertise in areas where your knowledge or skill set needs to be strengthened, and don’t be afraid to seek out staff support as you’re learning.

As you begin to feel more comfortable in your new position, circle back to the organization’s short- and long-term goals, determine what your and your department’s role will be in achieving them, and develop a plan of action.

Moving into a new role is an exciting, but sometimes stressful endeavor! You can avoid that stress by setting a plan for yourself.  Keep these tips in mind, and plan what you want to accomplish by the three-month, six-month, and one-year marks. Focus on what you’ve achieved, document your results, and celebrate each accomplishment!

Important Disclosures:

Ehlers is the joint marketing name of the following affiliated businesses (collectively, the “Affiliates”): Ehlers & Associates, Inc. (“EA”), a municipal advisor registered with the Municipal Securities Rulemaking Board (“MSRB”) and the Securities and Exchange Commission (“SEC”); Ehlers Investment Partners, LLC (“EIP”), an SEC registered investment adviser; and Bond Trust Services Corporation (“BTS”), holder of a limited banking charter issued by the State of Minnesota.

Where an activity requires registration as a municipal advisor pursuant to Section 15B of the Exchange Act of 1934 (Financial Management Planning and Debt Issuance & Management), such activity is or will be performed by EA; where an activity requires registration as an investment adviser pursuant to the Investment Advisers Act of 1940 (Investments and Treasury Management), such activity is or will be performed by EIP; and where an activity requires licensing as a bank pursuant to applicable state law (paying agent services shown under Debt Issuance & Management), such activity is or will be performed by BTS. Activities not requiring registration may be performed by any Affiliate.

This communication does not constitute an offer or solicitation for the purchase or sale of any investment (including without limitation, any municipal financial product, municipal security, or other security) or agreement with respect to any investment strategy or program. This communication is offered without charge to clients, friends, and prospective clients of the Affiliates as a source of general information about the services Ehlers provides. This communication is neither advice nor a recommendation by any Affiliate to any person with respect to any municipal financial product, municipal security, or other security, as such terms are defined pursuant to Section 15B of the Exchange Act of 1934 and rules of the MSRB. This communication does not constitute investment advice by any Affiliate that purports to meet the objectives or needs of any person pursuant to the Investment Advisers Act of 1940 or applicable state law.