Randy C Moravec CGFO
Chief Financial Officer
Town of Addison
PO Box 9010
Addison TX 75001-9010
GFOAT ID: 8794
Member Date: 11/1/1981
Membership Status: AC
TML Region: 13 - North Central
Texas |
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Education |
BA 1975
Southern Methodist University
MPA 1976 Southern Methodist University |
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Experience |
04/87 -
Current Director of Finance, Town of Addison
09/81 - 04/87 Assistant City Manager, City of Kingsville
05/80 - 09/81 Director Finance, City of Kingsville
10/76 - 05/80 Administrative Assistant, City of Corpus Christi |
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Certifications /
Awards |
| 1991 CGFO
#77 |
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GFOAT Service |
1999 -
Current Professional Awareness Committee
Newsletter Committee (former Chair)
Legislative Committee (former Chair)
Membership Committee (former Chair)
GFOA Executive Board
Governmental Budgeting & Management Standing Committee Chair |
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What has been one of your
greatest accomplishments as a Government Finance Officer?
The accomplishment I am most proud of is the implementation of
long-term financial planning for Addison’s operating funds. The Town of Addison
is very dependent on its commercial tax base and our economy mirrors Texas’
boom/bust economy. To flatten the peaks and valleys, I implemented a long-term
financial plan for the General fund back in the early nineties in which the
Council adopts the annual budget in context of a five-year financial plan
(budget year and four projected years). The plan has helped the Town maintain
its financial integrity and was expanded to include our Hotel, Airport and
Utility funds. I believe these plans contributed to the Town recently receiving
a AAA rating from Standard & Poor’s for our bonds.
What was one of your greatest learning experiences in
your government finance career?
Being an interim city manager twice at the City of Kingsville, I came to the
realization that I did not want to be a city manager.
Who has influenced or had a great impact on you and
your career in government finance?
My first job out of college was an administrative assistant with the
City of Corpus Christi budget office. I was one of three AA’s and we were given
the wonderful opportunity of working closely with the city manager who, at that
time, was Marvin Townsend, now executive director with the TML Intergovernmental
Risk Pool. Marvin has the incredible ability of capturing the details of any
policy issue and placing these issues in a perspective that facilitates their
resolution or adoption by elected officials. Although I was only a lowly AA,
Marvin spent extensive time with me and the other AA’s explaining the ins and
outs of city governance. He exhibited a strong ethical demeanor that ruled out
compromises that could threaten the financial stewardship of public funds. I
hold Marvin in the highest regard.
What has been one of your greatest challenges as a
Government Finance Officer?
The most time consuming challenges have been associated with the
deregulation of the telecommunication and electric power industries. On the
telecommunication side, we had to cope with dozens of companies wanting to bore
our rights-of-ways with fiber optic cable, much of which is now “dark” and
unused. We are also having to chase down dozens of companies for franchise fee
payments instead of obtaining one check from the one monopoly. The deregulation
of the electric power industry has resulted in cities having to accommodate the
transfer of hundreds or thousands of electric accounts from one retail electric
power company to another requiring us to spend considerable time making sure
accounts are properly billed. The other demanding challenge was converting the
city’s financial records to conform to GASB 34. I don’t want to say too much
about that because it still gives me a headache thinking about the countless
thousands of dollars and hours that have been spent on an initiative that has
not contributed one whit to the public’s understanding of local government
finances.
What, to date, has been your biggest screw-up, no let’s
say ‘on-the-job learning experience?
I learned to never, never, never again attempt a transition of an
accounting/financial/enterprise computer system unless I am 100% confident all
general ledger accounts have been properly balanced, particularly GL cash and
cash in bank.
In your crystal ball, what do you see as a future
challenge for government finance?
The approaching retirement of the baby boom generation (of which I am
a member) presents the greatest challenge for two reasons. The first is obvious
as demonstrated by the TMRS actuarial issue and GASB 45: namely the funding of
the immense liabilities associated with retirement benefits. Cities will have to
form prudent long-term benefit plans for retirees that are sustainable. I am
frankly perplexed by the number of governments that are electing to accept the
TMRS offer to phase-in the impact to city contributions over an eight-year
period. This problem is not going away and will be aggravated by the
postponement of the inevitable. This issue will require finance directors to
assume leadership roles in guiding management and elected officials to make
decisions that will be affordable over the years. The second reason is that a
huge number of city finance directors are going to be retiring and/or pursuing
second careers. Leaving with those individuals will be an immense amount of
institutional knowledge. Our profession needs to capture the collected wisdom of
these individuals and find opportunities to pass this information to the next
generation of FDs.
What words of wisdom would you pass on to a new
Government Finance Officer?
Think of yourself as a leader, not just a manager or supervisor. With
leadership comes significant responsibilities including the expression of the
organization’s vision, the encouragement of your staff, and the desire to
accomplish great things.
What are your hobbies that help keep you sane?
I enjoy tennis, swimming, and biking, and, when I am particularly
frustrated, pumping iron.
Who is your favorite actor?
I have several that include Tom Hanks, Anthony Hopkins, and Meryl
Streep.
Who is your favorite singer?
Thanks to my daughters, I have been turned on to Kristin Chenoweth of
Wicked fame. And if you haven’t seen the show, I highly recommend “Pushing
Daisies” in which Kristin co-stars.
What was your favorite TV show when you were a kid?
Again, I don’t have just one. I enjoyed “Star Trek”, “Wild Wild
West”, “Get Smart”, and the various spy shows such as the “Man from Uncle”. Oh,
and when it comes to watching TV, I am still a kid. Believe it or not, one of my
favorite shows is South Park. I laugh out loud whenever I watch it.
What is your favorite movie?
I enjoy many movies. I particularly like the epic films that never
lose their appeal such as “Lawrence of Arabia” and “Ben Hur”.