The Town Council voted 4-0 to appoint Controller Doug Smith as Finance Director.
The position became vacant last year when former Finance Director Sue Hickey’s employment was terminated. Hickey settled with the Town and moved on to serve as Derry’s Chief Financial Officer.
Smith has been with the Town since 2011 and “aptly stepped up to take on the roles and responsibilities of the Finance Director,” Town Manager Kevin Smith told the Council.
“He has done an excellent job in that capacity,” he said.
The position of Controller will be replaced with a Senior Accountant, who will now report directly to the Town Manager, whereas the Controller previously reported to the Finance Director.
In total, appointing Smith as Finance Director and hiring a Senior Accountant in place of a Controller will save the Town a minimum of $50,000 in the FY16 budget, according to Kevin Smith.
As finance director, Doug Smith’s annual salary will increase by $9,000 to $109,000 annually, where Hickey’s salary was budgeted at $124,000.
Kevin Smith noted that depending on the health insurance the Senior Accountant decides to take, the Town could see even greater savings.
The changes will be reflected when the Town begins putting together the FY17 budget in the fall, Smith said.
“I think this is a good decision by the Town Manager and I support the decision,” Councilor Tom Dolan said at Monday night’s meeting.