Riverside’s Treasurer-Tax Collector Lands Top Finance Job

Riverside County has filled a key executive position from within its ranks. Riverside County Treasurer-Tax Collector Don Kent has been named Chief Financial Officer for the County. Assistant Treasurer-Tax Collector Jon Christensen is expected to take over his current duties until a successor is chosen by voters in June 2018.

Kent will replace retiring Finance Officer Paul McDonnell on Aug. 3. The job pays as much as $283,427 a year compared to the Treasurer-Tax Collector position, which maxes out at about $195,000.

Kent was elected to the Treasurer-Tax Collector position in 2008, having previously served as an assistant investment officer. According to the county, he oversaw an $8 billion pooled investment fund that experienced no depositor losses during the recession of 2008.

Kent’s hiring comes at a strenuous time for county finances. Riverside’s budget is strained. Revenue has fallen behind a number of expanding costs, including increased pay for both union and non-union employees and fallout from a massive legal settlement over jail inmate health care. Private accounting firm KPMG was recently brought in to take a look at some of the problems and offer its advice.

Read more about Riverside County’s new finance officer and some of the challenges he’ll face here


Comments

Finance

Wednesday, October 4, 2017 - 05:13

The noose is tightening around California’s cities and counties. At least one-third of local and state budgets now go toward public employee pensions.