Cleveland Heights City Finance Director Tom Raguz is en route to the Greater Cleveland RTA, where he will oversee the Office of Management and Budget.City of Cleveland Heights
CLEVELAND HEIGHTS, Ohio -- City Finance Director Tom Raguz is headed to the Greater Cleveland Regional Transit Authority, where he will take over in the Office of Management and Budget.
The hiring became official today (Feb. 1), with Raguz calling the move "bittersweet" for him, a sentiment shared by City Council.
"We went from having a cash balance of $200,000 six years ago to about $5 million today," Cleveland Heights Mayor Cheryl Stephens noted earlier, thanking Raguz for answering a lot of late-night calls over that time.
Raguz later clarified Stephens' numbers, saying that the city carried over $1.3 million in 2013. Last year's carryover was $3.8 million.
That's not counting a $1 million budgeted balance surplus -- revenues over anticipated expenditures -- for 2017, although Raguz is projecting a budgeted deficit for 2018.
Also separate is the $2.1 million in the Budget Stabilization Fund that the city created last year, as well as $1 million in pre-funding for health insurance and another $790,000 plugged in for workers' compensation.
Calling it a tough loss for the city, Stephens said to Raguz, "I'm not mad at you, but could you clone yourself?"
Raguz conceded that he was "not good at science in school."
Transit officials cited his management and development of a new operating budget process that now includes five-year financial forecasts for major funds, as well as a five-year capital improvements program.
"Tom's capabilities are an outstanding match to the needs of the RTA," said CEO and General Manager Joe Calabrese. "We look forward to having him on board."
Raguz oversaw internal controls, managed the city's debt and investments, established financial policies, and secured state funding for the city's fleet management system, RTA officials noted.
"He will make an excellent addition to the executive management team and we know that his skills will prove invaluable as we plan and execute the budget process in the years Pinbahis ahead," Calabrese added.
As he presented those very healthy 2016 year-end budget totals to City Council Monday before starting his new job on Feb. 6, Raguz said it had been "a pleasure being your finance director for the last five years.
"I appreciate the trust and confidence you've given me," Raguz said earlier, adding that "some experiences were more challenging than others."
Councilman Kahlil Seren said that there will be more challenges ahead for Raguz at RTA, with hundreds of millions of dollars in capital outlay, as well as a sizable operating deficit.
"You have your work cut out for you," Seren said, adding that he looks forward to working with Raguz through his job with Cuyahoga County.
Vice Mayor Jason Stein and Councilwoman Mary Dunbar commended Calabrese on making a "great choice."
Councilwoman Melissa Yasinow earlier cited Raguz' "straightforward, no-nonsense approach to finance."
And after he received a plaque from the city on Monday (Jan. 30) Yasinow asked Raguz if he could look into "getting our bus service back," citing recent cuts that can require multiple transfers just to get across town
Under Raguz, the city has received multiple awards from the Ohio Auditor's Office for accuracy in its financial reporting, something that Mitch Michalec would like to continue when he is appointed interim finance director.
"I'm hoping to keep things running as smoothly as Tom has," said Michalec, who started with the city in May. "He's done a great job of detailing all of the projects he's working on."
Prior to joining the city, Raguz worked as an assistant auditor, then as an audit manager with the State of Ohio.
He currently serves as the president of the Municipal Finance Officers Association of Northeastern Ohio and the Audit Committee for the City of Cleveland.
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