TODAY ’ S MUNICIPAL TREASURER
transformation , is a former treasurer for the County of Lanark who also has experience at the federal and provincial levels of government . When she took on the role in Lanark , her aim was to change the traditional perception of the treasurer to that of a business partner , as opposed to a controller .
“ I believe that councils in the municipal sector are very much like a board of directors ,” she explains . “ They need to have more comprehensive advice from treasurers , among others , to be able to make long-term , higher level decisions . With municipalities , over the last 10 years or so , that longer-term view is starting to emerge with the issues around infrastructure deficits . I would argue that the treasurer ’ s role is now that of a strategic adviser who focuses on the long term and they need support on the operational side to do so .”
Skills gap In the past , municipal treasurers were able to advance through the ranks without much formal training , learning on the job as they went along .
But in 2009 , the adoption of the PSAB requirements radically changed the competencies required in the municipal treasurer role .
“ That piece alone [ PSAB accounting ] was beyond the skill sets of many treasurers in place at the time ,” says Wolters . “ Now , the requirements around financial reporting require very different competencies and there ’ s a skills gap there .”
Today ’ s treasurers , she adds , need to focus not just on beans , but on business as well . The role has evolved into that of a financial strategist and business partner to council and other departments , but that ’ s not to say traditional skills are no longer required .
Dan Cowin , executive director of the Municipal Finance Officers ’ Association of Ontario ( MFOA ), agrees that treasurers now need a broader skill set .
“ Municipalities face financial challenges and requirements that mean that treasurers are doing a lot more ,” he explains . “ In some cases , this involves new skills , including strong communications skills , so treasurers can help council understand the financial implications of what they do or don ’ t do . In addition to
“ I would argue that the treasurer ’ s role is now that of a strategic adviser who focuses on the long term and they need support on the operational side to do so .”
– Tammy Wolters , CEO , WSCS Consulting Inc .
I3ALDA / SHUTTERSTOCK
16 Q2 2015 www . amcto . com