Monday, January 13, 2014

Roosevelt Island Operating Corp Without Chief Financial Officer Since September 2013 - RIOC Audit Committee Meeting Today To Discuss

The Roosevelt Island Operating Corp (RIOC) has been without a Chief Financial Officer (CFO) since September 2013. Later today, the RIOC Board Of Directors Audit Committee will meet to discuss the position of CFO in executive session which is closed to the public. According to RIOC:

PLEASE TAKE NOTICE that a meeting of the Audit Committee of the RIOC Board of Directors will be held on Monday, January 13, 2014 at 5:15 p.m. at the RIOC administrative office, 591 Main Street, Roosevelt Island, New York.
1. Chair’s Motion for Executive Session Regarding the Chief Financial Officer Position;
2. Any Other Committee Business That May be Brought Before the Committee
RIOC has undertaken a complete overhaul of senior management during the last 18 months beginning with the still unexplained departures of its President in September 2012 and Vice President Of Operations in December 2012 and then followed in 2013 by the departures of the head of Engineering, Public Safety Department Director and CFO.

Currently only the positions of RIOC President and Interim Public Safety Department Director have been filled.

According to RIOC (Page 3)
... Proposed Budget for FY 2014-15 eliminates the position of Vice President/Chief Operating Officer and replaces it with the position of Vice President/Compliance Officer to facilitate RIOC’s compliance with the applicable statues, regulations, rules, policies and procedures...
and (Page 3):
...Engineering & Maintenance – as discussed in the Capital Projects section below, there are many major capital projects that are budgeted for the next 2 years. An engineering firm, Hill International, was engaged in FY 2014 to provide consulting services to oversee these projects. These services are expected to continue and budgeted for in FY 2015....