Phoenix City Manager Ed Zuercher Names Kathleen Gitkin Acting Chief Financial Officerhttps://www.phoenix.gov/newsroom/finance/1981Finance7/7/2021 5:00:00 PMPhoenix City Manager Ed Zuercher Names Kathleen Gitkin Acting Chief Financial Officer<div class="ExternalClass6BCAA4F4269B461EAABB7BDBD758A15D"><html> <div style="text-align:center;">​<img style="margin:5px;width:184px;height:276px;" alt="" src="/piosite/MediaAssets/KathleenGitkin.jpg" /></div>Phoenix City Manager Ed Zuercher has named Kathleen Gitkin as the city's acting chief financial officer.  In this role, Gitkin will be responsible for all aspects of the city's fiscal portfolio, including debt management, capital financing, treasury services, procurement, tax and licensing, and the acquisition and management of the city's real estate holdings, as well ensuring the city retains its excellent bond rating. Gitkin replaces CFO Denise Olson who is retiring on July 16.<br><br>“During her seventeen years advancing through the ranks of the city's Finance Department, Kathleen has acquired a keen understanding of the city's complex financial systems, including debt management, investments, real estate, and the all-important financial forecasting," said Zuercher. “She is the ideal leader to ensure that the city's finances remain in top form."  <br><br>Gitkin began her city career in 2004 as an entry-level accountant and advanced to the assistant finance director position before being named acting CFO. During her city career, she has managed a wide range of accounting and financial functions and is widely known by the city's banking and financial partners and bond-rating agencies for her exceptional work on the city's behalf. Prior to joining the city, Gitkin worked as an accountant in the private sector and served as New Mexico director for the American Heart Association and volunteer manager for the Special Olympics.  <br><br>“I look forward to taking on this new challenge," said Gitkin. “I am committed to ensuring the success of the Department and its staff in continuing the city's legacy of excellence in fiscal management." <br><br>Gitkin holds a Bachelor of Accountancy from New Mexico State University and a Master of Business Administration from University of Phoenix.  She has served on the City of Phoenix Employee Retirement System board, the Phoenix Community Development and Investment Corporation board, and the Deferred Compensation Board, and is a member of the Government Finance Officers Association.  <br><br></html></div>https://www.phoenix.gov/financeNewsfinanceFinance
Truth in Taxation Explainedhttps://www.phoenix.gov/newsroom/finance/1928Finance6/1/2021 6:00:00 PMTruth in Taxation Explained<div class="ExternalClass009EBABCEF8D4D65819739815506057C"><html> <p></p>The city of Phoenix publishes the Truth in Taxation notice below as required by state law. The required notice addresses the city's primary property tax, which supports the General Fund services such as police and fire, parks and recreation, libraries and senior and community centers.<br><br>The city of Phoenix's proposed primary property tax rate for 2021-22 of $1.3055 per $100 of assessed valuation is unchanged from its 2020-21 rate. However, overall increases in assessed valuation result in a 4% increase in primary property taxes for the average city of Phoenix property owner. Individual experiences may differ based on unique property variances.<br><br>State law requires the notice below any time the average primary property tax bill increases, even if the primary property tax rate is reduced.<br><br>The Truth in Taxation notice prescribed by state law does not address the city's secondary property tax. The city's secondary property tax rate for 2021-22 will be reduced by one cent from $0.8241 to $0.8141 per $100 of assessed valuation. Secondary property taxes pay the bonded debt service for facilities like libraries, police and fire stations, storm drains and parks.<br><br>For more information, call 602-262-4800, or visit phoenix.gov/budget.<br><br> <br><strong>TRUTH IN TAXATION HEARING NOTICE OF TAX INCREASE</strong><br><br>In compliance with section 42-17107, Arizona Revised Statutes, the city of Phoenix is notifying its property taxpayers of the city of Phoenix's intention to raise its primary property taxes over last year's level.  The city of Phoenix is proposing an increase in primary property taxes of $7,444,842 or 4.0 percent.<br><br>For example, the proposed tax increase will cause the city of Phoenix's primary property taxes on a $100,000 home to be $130.55 (total proposed taxes including the tax increase). Without the proposed tax increase, the total taxes that would be owed on a $100,000 home would have been $125.52.<br><br>The proposed increase is exclusive of increased primary property taxes received from new construction.  The increase is also exclusive of any changes that may occur from property tax levies for voter approved bonded indebtedness or budget and tax overrides.<br><br>All interested citizens are invited to attend the public hearing on the tax increase that is scheduled to be held June 16, 2021 at 2:30 p.m. at the city of Phoenix Council Chambers, 200 W. Jefferson St.<br><br><p style="text-align:justify;">Published 6/1/21 & 6/8/21​<br></p></html></div>https://www.phoenix.gov/financeNewsfinanceFinance
City of Phoenix Chief Financial Officer Denise Olson Named a “Trailblazing Women in Public Finance”https://www.phoenix.gov/newsroom/finance/1669Finance12/18/2020 11:00:00 PMCity of Phoenix Chief Financial Officer Denise Olson Named a “Trailblazing Women in Public Finance”<div class="ExternalClass68276ADD394746A485B46B057E39CE0A"><html> <p style="text-align:center;">​​<img style="margin:5px;width:210px;height:210px;" src="/piosite/MediaAssets/DeniseOlson.jpg" /><br></p>City of Phoenix Chief Financial Officer Denise Olson was honored by Northeast Women in Public Finance as one of 10 “Trailblazing Women in Public Finance" at the Bond Buyer's Deal of the Year Awards on December 16, 2020.<br><br>The Deal of the Year Awards recognize the nation's most outstanding municipal finance transactions each year, as well as the people behind the transactions.  The awards focus on innovation as well as trailblazing women in finance, both public and private.   <br><br>The honor recognizes Denise for developing solutions to improve the city's retirement systems; as a leader in procuring millions of dollars of PPE for the fifth largest city in the nation during the COVID-19 crisis; and as an innovator who led a successful $400 million bond offering in March 2020, with $290 million focusing on sustainability – a first of its kind for the city of Phoenix. It was one of the only successful municipal bond sales taking place during the pandemic.    <br><br>“Denise embodies a unique combination of financial acumen and creativity that continues to deliver financial successes for the city and our residents," said Phoenix City Manager Ed Zuercher.  “Her leadership is critical to retaining our AAA-bond rating, which provides the financial flexibility a major city needs to innovate and build for the future, especially during these uncertain times." <br><br>Denise began her city of Phoenix career as an economist in 1994, promoting through the ranks before becoming the first woman appointed Chief Financial Officer in 2015.  Denise leads a department of 200 employees, managing $2.3 billion in cash, tax collection, risk and debt management, among other functions.  Denise holds a bachelor's degree in Business Administration, with majors in human resource management and economics, from New Mexico State University, and a Master of Public Administration from Arizona State University.<br><br>Northeast Women in Public Finance is a not-for-profit professional organization for women who work in private or public sector firms or organizations that are engaged in public finance. <br><br>The Bond Buyer is the only independent information resource serving the entire municipal finance community. <br><br>The city of Phoenix is the fifth largest city in the nation, and the fastest growing city in the nation, with more than 14,000 city employees and a $3.4 billion annual budget.​​<br> <br></html></div>https://www.phoenix.gov/financeNewsfinanceFinance



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