Macomb Man Named Crain’s Detroit Business 2012 CFO of the Year

Macomb County Director of Finance and Macomb Township resident, Peter Provenzano Jr., has just been chosen as Crain’s Detroit Business 2012 CFO of the Year.

“I am honored to have been selected from such a talented pool of CFO candidates and I am grateful to the main department heads, elected officials and employees that have contributed to the County’s fiscal stability,” said Provenzano, in a prepared statement. “This award would not have been possible without a very talented staff. I am very proud of the finance team we have assembled.”

Macomb County has always had a history of financial responsibility, but Provenzano has taken the concept to the next level through his leadership.

“Pete inherited a budget that was structurally deficient,” said Macomb County Executive Mark Hackel, in a prepared statement. “Under his watch, the County has transitioned to a timelier and transparent budget process.”

As a result of Provenzano’s improvements, Standard & Poor’s awarded Macomb County a AAA bond rating, adding that the company anticipates the county will receive that same rating through at least 2013. This AAA bond rating allowed the county to refinance bonds and prevent possible job eliminations by saving the county an additional $1 million.

Additionally, Provenzano started doing quarterly budget reports and Macomb County became the first in Michigan publish a comprehensive financial dashboard for the public to view. The county’s budget documents were redesigned to improve the readablility and transparency of financial operations. Moreover, the Finance Department was reorganized to reflect the county’s focus on budgeting for long-term sustainability.

Provenzano was recognized in the May 28 issue of Crain’s Detroit Business. A reception for the winners will be held on June 12. Just prior to working for Macomb County, Provenzano acted as the controller/assistant city manager for Roseville for six years.