The city of Monterey has a new finance director, longtime city staffer Julie Porter who has served as interim finance director since Jimmy Forbis’ departure on Oct. 17.
Porter inherits a full plate with $100 million in capital projects underway, a planned budget deficit for the 2016-17 fiscal year and the Tidelands Trust Fund still needed to be brought into full compliance with state law.
“I’ve really enjoyed working in the city finance department,” says Porter, a Salinas High grad who has been with Monterey since 2006. “I’m really excited for this opportunity.”
Her team will start working on the two-year budget for the next fiscal year in the coming months as well as updating the city five year revenue forecast.
With the Conference Center closed for remodeling, revenue projections were conservative due to the expected decrease in hotel taxes, but Porter says returns this year have been better than expected.
City Manager Mike McCarthy opted against a nationwide search to fill the position, saying that there were already very qualified candidate on city staff.
“She’s been involved in every aspect of managing the city’s budget. Especially during the recent great recession, Julie’s careful analysis and fiscal prudence helped guide many budgetary decisions,” McCarthy said in a prepared statement. “I know she will be an excellent Finance Director.”