CASE STUDY: Timely Interim Finance Leadership Helps Meet Deadlines

Fractional CFO Navigates Transition for VIRGINIA DRPT

The SITUAtion

When the Virginia Department of Rail and Public Transportation’s CFO and other financial leaders left to join a newly created state agency, the department’s accounting function lacked leadership and finance talent at a critical time. As deadlines quickly approached to launch a new payroll system and deliver end-of-year close and ARMICS reporting, it became apparent to department leadership that the employees tapped to replace the outgoing finance team were unprepared to do the job.

Solution

Needing qualified financial leadership fast, DRPT tapped Fahrenheit Advisors to meet the need with a fractional CFO. Fahrenheit deployed Kathy Czerwonka, a CPA who has served as CFO for large private-sector companies and has state government accounting, training, and auditing experience. What was supposed to be a 30-day assignment to assess the situation, provide leadership, and meet deadlines, turned into an 11-month job to set up the agency’s finance team for long-term success. Kathy provided focused accounting training to improve the team’s skills and collaborated with the agency’s director to document performance issues and implement organizational changes to make the team more streamlined and effective.

Results

Kathy’s leadership and support helped the agency launch its new HCM payroll system, complete FY22 ARMICS testing and reporting, and provide all FY22 year-end closing reports and reconciliations accurately and on time. Additionally, she leveraged her experience and expertise to build a competent and qualified finance team capable of taking the agency into the future. With confidence in Kathy and Fahrenheit Advisors high, however, DRPT hired Fahrenheit to conduct a nationwide talent search that resulted in the successful placement of a new CFO.

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Meet Kathy Czerwonka

With experience in numerous industries and capacities, Kathy Czerwonka brings a broad perspective to project teams within finance and accounting. Her strengths are leadership, collaboration, and a positive outlook. As CFO for three companies, in manufacturing, healthcare, and services industries, and as a consultant, she has worked on ERP and other system implementations. In the first 10 years of her career, she worked on numerous international projects. Kathy has experience as an auditor, trainer, negotiator, business analyst, project manager, security analyst, and product owner. Connect with Kathy on LinkedIn.