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OV finance director named CFO of the Year

Photo of Finance Director Stacey Lemos with Town of Oro Valley seal

The Town of Oro Valley is proud to announce that Finance Director Stacey Lemos took first place in the government category at the Inside Tucson Business annual CFO of the Year awards on November 5, 2014.

November 12, 2014

"As the Finance Director, Ms. Lemos demonstrates a consistent ability to analyze, articulate and lead the Finance Department to financial excellence," said Town Manager Greg Caton. "As a leader of the department, Ms. Lemos’ work ethic is to produce quality work the first time around and ensure that all financial operations are running smoothly."

In her nearly nine years as Finance Director for the Town of Oro Valley, Stacey Lemos has brought a level of credibility and professionalism that has earned the respect of her peers and the community she serves.

In 2014, under her direction, the Town of Oro Valley received two awards from the Government Finance Officers Association (GFOA). The first is the Certificate of Achievement for Excellence in Financial Reporting for the FY 2012/13 Comprehensive Annual Financial Report (CAFR). This is the 20th consecutive year that the Town has received this honor. And for the sixth consecutive year, the Town received the Distinguished Budget Presentation Award, which required the Town to satisfy a set of stringent, nationally-recognized guidelines for effective budget presentation. Of the 91 incorporated municipalities in Arizona, Oro Valley is one of only 27 municipalities in the state to receive both awards from the GFOA. These two awards are the highest form of recognition in governmental accounting, financial reporting and budgeting, and they represent a significant accomplishment by a government and its management.

Over the past three fiscal years, as our nation continues to recover from the Great Recession, sound fiscal management has allowed the Town of Oro Valley to use annual budget surpluses to invest nearly $5 million into our community assets with a new Aquatic Center, new multi-purpose fields and dog park at Naranja Park, and protection of our viewsheds by ensuring utility lines are buried underground. We have done all of this while also growing our cash reserves above where they were three years ago, and stable cash reserves contribute to the Town’s strong bond ratings.

In February of this year, Standard & Poor’s Rating Services raised the Town’s long-term rating on the Oro Valley Oracle Road Improvement District’s special assessment revenue bonds two notches, from A- to A+. This investment grade rating will allow the Town to access future capital on the bond market at much lower interest rates, saving taxpayer dollars on the Town’s debt payments.