Director of Finance Program Creation

Item 69.10 #1c

Language
Page 53, after line 3, insert:
"Financial Assistance for Administration (xxx) ... $  515,271  $  515,271
Financial Assistance to Local
   Directors of Finance ...................................   $5,021,442     $5,021,442
Authority: Title 15.2, Chapter 16, Articles 2 and 6.1, Code of Virginia.
A.1. The annual salaries of elected or appointed officers who hold the combined office of city treasurer and commissioner of the revenue, or elected or appointed officers who hold the combined office of county treasurer and commissioner of the revenue subject to the provisions of § 15.2-1636.17, Code of Virginia, shall be as hereinafter prescribed, based on the services provided, except as otherwise provided in § 15.2-1636.12, Code of Virginia.
July 1, 2004 to November 30, 2004
December 1, 2004 to November 30, 2005
December 1, 2005 to June 30, 2006
Less than 10,000
$50,165
$50,165
$51,670
10,000 to 19,999
$55,741
$55,741
$57,413
20,000-39,999
$61,934
$61,934
$63,792
40,000-69,999
$68,814
$68,814
$70,878
70,000-99,999
$76,461
$76,461
$78,755
100,000-174,999
$84,955
$84,955
$87,504
175,000-249,999
$89,428
$89,428
$92,111
250,000 and above
$101,622
$101,622
$104,671
2. Whenever
any officer whether elected or appointed, who holds that combined office of city treasurer and commissioner of the revenue,
is such for two or more cities or for a county and city together, the aggregate population of such political subdivisions shall be the population for the purpose of arriving at the salary of such
officer
under the provisions of this item.
B. There is hereby reappropriated the unexpended balance remaining in this program on June 30, 2004, and June 30, 2005.
C.1. The Treasurers' Career Development Program shall be made available by the Compensation Board to appointed officers who hold the combined office of city or county treasurer and commissioner of the revenue subject to the provisions
of §
15.2-1636.17
, Code of Virginia.
2. The Compensation Board may increase the annual salary in paragraph A1 of this item following receipt of the  
appointed officer’s
certification that the minimum requirements of the Treasurers' Career Development Program have been met, provided that such certifications are submitted by
appointed officers
as part of their annual budget request to the Compensation Board on February 1 of each year. The amount of increase shall be subject to appropriations by the General Assembly for this purpose.
"

Explanation
(This amendment updates the program structure for Treasurers by creating a separate program for Directors of Finance. The existing funding of $5.5 million the first year and $5.5 million the second year from the general fund for Directors of Finance is transferred from the program for Treasurers in Item 69.)