Fort Worth selects new finance officer
12/15/2013 12:00 AM
12/13/2013 4:23 PM
After an eight-month search, Fort Worth has selected a new chief financial officer, who is expected to start work in mid-January.
Aaron J. Bovos is coming from Gwinnett County, Ga., where he has served as the chief financial officer and deputy county director since 2010.
The county, in the Atlanta area, has a population of about 840,000 and employs more than 4,800 people. Its annual operating budget is about $56 million, compared with Fort Worth’s operating budget of about $1.2 billion.
“I’m excited about him, and everyone who has met him and interviewed him is excited. His references are impeccable,” Mayor Betsy Price said.
Price was not directly involved in the selection process. City Manager Tom Higgins took the lead.
“In a fast-growing city like Fort Worth, a strong CFO plays a vital role. In Aaron, we found a professional with a breadth of experience — in budget, in finance, and even time as a city manager,” Higgins said in a statement.
“That gives him the kind of depth that will allow him to integrate effectively with the city manager’s office, with staff, and with our vision for the city moving forward.”
Bovos, a certified government finance manager and certified treasury professional, helped maintain Gwinnett County’s AAA bond rating from Fitch, Standard & Poor’s and Moody’s, according to a news release.
He also chaired the county’s investment committee, which managed $1.7 billion in cash and investments. And he oversaw the retirement plans management committee, which was responsible for nearly $1 billion in assets.
Horatio Porter, the city’s former chief financial officer, resigned in May, leaving right before the fiscal 2014 budget talks, to become chief financial officer of the North Texas Tollway Authority.
Porter is credited with reining in Fort Worth’s budgets.
Jay Chapa, director of the Housing and Economic Development Department, led the city through the recent budget process.
Porter’s annual salary with the city was $155,000. Bovos was offered $158,000.
This report includes material from the Star-Telegram archives.
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