Mayor Fischer announces leadership change at OMB
Mayor Greg Fischer announced today that Daniel Frockt is leaving Louisville Metro Government (LMG) later this year for a position at Bellarmine University, and Monica L. Harmon, who is currently Metro’s Director of Finance, will be LMG’s new Chief Financial Officer (CFO).
Thanking Frockt for committing to stay with LMG during the FY21-22 budget process, Mayor Fischer praised him as a wise and committed member of his leadership team.
“With a calm yet firm hand, Daniel has helped us through economic good times and challenges, always approaching the budget process with a compassionate, systematic and creative approach,” Fischer said. “I deeply appreciate his work as our CFO over these past six years, and his willingness to help us with the current budget process. I’m also grateful for his work building a deep, talented bench at the Office of Management and Budget (OMB), including Monica, who is well prepared for the top job.”
The Mayor said of Harmon: “Monica has the skills, talent and experience to guide OMB. She’s a thoughtful, well-respected leader who gets things done and done well. We are lucky to have her join the senior leadership team.”
As the Director of Finance, Harmon currently manages Metro Louisville’s daily financial operations, including accounting, and invoice processing and payments, grants management and compliance, treasury functions including cash collections, investments and billing, payroll, risk and financial systems and other related administrative functions. Harmon’s team also manages LMG’s Comprehensive Annual Financial Report (CAFR), which is a key report to residents, investors and public markets. Louisville Metro has been the recipient of Government Finance Officers Association award for Excellence in Financial Reporting for eight consecutive years for this report, which provides an essential snapshot of the city’s financial health.
Harmon has worked in various managerial roles over the past 40 years both in government and the private sector. Prior to joining Metro, she was Director of Finance and CFO for the city of Jeffersonville, IN. This was preceded by 20 years in various roles at the Regional Airport Authority of Louisville and Jefferson County, followed by 10 years in private industry as a Controller and VP of Finance.
She attended Indiana University both in Bloomington and New Albany, IN, and received her BS in Accounting.
As CFO, she will lead OMB, which is responsible for the city’s finances, including its approximately $1 billion annual operating and capital budget. OMB administers procurement, risk management, treasury, accounts payable/receivable, accounting, grants, payroll, financial systems, open records/archives, and revenue collection. In her new role, Harmon will advise the Mayor’s Office on the financial health of the city and provide routine testimony to the Metro Council and public.
Harmon said: “It is an honor to accept this new role and I look forward to continuing my service for Mayor Fischer and the city. OMB has a solid team and with their support I will maintain the sound fiscal policies and customer service that support all the city departments and programs the citizens expect from their taxes dollars.”
In his new role at Bellarmine, Frockt will be Chief Financial Officer and Vice President for Finance.
Frockt has been CFO and director of the LMG Office of Management and Budget since 2015, after previously serving as the city’s Budget Director for 10 years. Previously he was an education policy advisor for the Texas Association of School Boards (TASB). He has an MBA from the University of Texas at Austin, a M.Ed. from the University of Washington, and a BA from the University of Pennsylvania. He is a Louisville native.
Frockt said: “I want to thank Mayor Fischer for giving me the opportunity to serve the city in so many distinct ways. It has been an honor and a pleasure to work alongside talented people who have the city’s best interests at heart. I especially want to thank the entire OMB team for their unwavering commitment to fiscal integrity and customer service. I am excited about the opportunity to help Bellarmine continue its growth and know that the city will thrive under Monica’s leadership.”
The city will hire a new Finance Director to replace Harmon when she moves into the top job.