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Gary Franzi: Time for a Change After 15 Years as Avon BOE Finance Director

Franzi is exploring his options, including doing more consulting work and finance lectures.

 

For Gary Franzi, who is leaving his role as Avon Board of Education director of finance in December, continual development of his work experience and skills is important, but educating others interested in the finance field is just as crucial.

"It's critical to share that information with others," Franzi, who has been finance director for 15 years, said on Tuesday.

After all, that is what professors from some of the top business schools in the country, such as Wharton, Harvard Business School and Dartmouth's Tuck School of Business did for him during his advanced management training at the start of his career at Travelers in Hartford. He worked there from 1975 to 1993, serving as financial officer and director for managed care and employee benefits, chief financial officer for corporate communications and assistant director of corporate finance over the course of his career there.

"You continue to grow over time and develop expand on your skills," said Franzi, who earned his bachelor of science and master of business degrees at the University of Hartford.

During his last five years of working in finance at Travelers, he completed several expense reduction initiatives on company operations to increase profitabilty. He decided he wanted a more positive environment where he could make a difference.

"Education seemed like a normal transition," Franzi said.

He worked full-time as district financial officer for the Education Alternatives, Inc. and the Hartford Board of Education strategic alliance in the mid ’90s before he was hired in Avon, where he said the school board at the time welcomed him.

The public and the private sectors have their differences and similarities, according to Franzi. The key is to take the "best practices from both and apply them as you move forward to try and make a difference."

A finance director's perspective is critical in budget endeavors. Franzi said that he has to ensure a school district is providing for both the children and the residents.

The most challenging part of working for a school district, Franzi said, was that the "resources in the public sector are finite." He also said it is "critical" to balance the best interests of students and schools with taxpayers' needs, a common issue in many towns.

That task is not easy, but seeing the results and the outcome of securing funding is rewarding, Franzi said, particularly for capital projects. That is particularly true, he said, when the public, school district staff and town are able to work together to come up with creative solutions for funding. A good example of that is the  Avon Middle School tennis courts replacement project, which town and school board budget money, private donations and grants will fund, including a potential United States Tennis Association grant. Fundraising is still underway.

During his 15 years working for Avon Public Schools, he did financial planning that made projects like the Avon High School expansion possible. Other notable capital projects, he said, include the construction of Thompson Brook School, the  installation of new roofing at Pine Grove School, Roaring Brook School and Avon Middle School possible, and new school boilers. There were also one or two small school vehicles when he first started. Over the years he helped bring in a fleet of trucks and more equipment.

But that's not all he has done. He does consulting work on the side, depending on the demand, giving financial advice to municipalities and other school boards. In his spare time, Franzi also gives lectures at universities to students considering working in finance, predominantly at his alma mater, as well as for the University of Connecticut's executive leadership program over the summer.

"It's great. It's a lot of fun," Franzi said.

Franzi's resignation comes in the midst of the search for a new assistant superintendent, which is scheduled to conclude in November. Leaving the Avon school district after all those years is bittersweet, though Franzi said "it's good news" overall. He doesn't have a full-time job lined up yet, but he is looking forward "to trying something new." He is in the process of searching, but in the meantime, he will stay on until December to help the district transition.

"It's not a job you can just walk away from," Franzi said.

Franzi spent a few months, starting in July, mulling over the idea of leaving his post as finance director. His decision was revealed to the Board of Education during executive session at a special meeting Sept. 12, but Franzi was not there. Superintendent Gary Mala received Franzi's resignation letter on Sept. 22.

Franzi said his resignation does not have anything to do with the previous budget season. In fact, he said that he thinks Avon's financial planning is moving in a positive direction and that the district is always optimizing its budget process.

The school board is in the process of closing out a revolving account in order to place some of the money into special revenue accounts and creating line items in the operating budget for another portion. With the revenue sources more specifically labeled, that will make the school board's accounting more comprehensive for auditors to review.

The district also will start using financial software program BudgetSense for accounting, which Franzi previously said will increase the efficiency of developing the school board budget and decrease manual administrative labor.

There has already been more communication between the Avon Board of Education, Town Council and Board of Finance, as school board members rotate attending the other boards' meetings. Franzi said that the school board is also trying to keep the public more informed.

"They're positive changes and necessary changes," Franzi said. "I think they will provide more fiscal insight for the general public as a whole. Transparency and disclosure are critical."

A driving force behind becoming a school district finance director was making a difference for kids. Now, Franzi, a Harwinton resident, said he wants to spend more time with his own children, who are 6 and 10.

He said he wishes the Avon school district "continued success" and that his colleagues and the school board have been very supportive of his decision.

"It's been a great town and a great environment to work in," Franzi said.

Tricia

3:16 pm on Wednesday, September 28, 2011

For Jessie, fair is fair and, in spite of my other comments, you did a good job with this piece, assuming all the cited information is accurate. From information conveyed, to tone, to conclusion, this is one of your better articles.

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