Chapel Hill gets new Business Management Director

I just found out via the Chapel hill eNews that we have a new business management director. His name is Ken Pennoyer and was previously the finance director for the City of Durham. Welcome to Chapel Hill Ken! (See full press release bellow)

My personal concern upon reading this was about his position as manager over the Town of Chapel Hill Information Technology Department. I see the connection with IT and the budget. But what is Mr. Pennoyer's experience with Technology and communications? I bet y'all have other concerns. What do you think the priorities for our new business management director should be?

3. New Finance Director for Chapel Hill

Town Manager Roger L. Stancil announced his decision today to appoint Ken Pennoyer, finance director for the City of Durham, as the new business management director for the Town of Chapel Hill. He is scheduled to start on February 4 with an annual salary of $112,000.

"Ken's considerable experience in managing the finances of a larger neighbor that is also a Triple A bond rated community will benefit Chapel Hill," Stancil said. "His experience with managing technology as well as financial operations makes him a perfect candidate for this newly defined position. I am delighted with our Town's ability to attract and retain individuals of such high caliber to our senior management team."

Pennoyer has worked as finance director for the City of Durham since 2003 and as assistant director since 1999. A certified internal auditor, Pennoyer holds a Master of Business Administration from Villanova University in Pennsylvania and a Bachelor of Science degree from Central Connecticut State University.

Stancil said the new director will be tasked with transitioning the finance department into one that manages the business of the Town including budget, accounting, business analysis and information technology. He will be a strategic partner with both core administrative departments and key operating departments in thinking about the future of the Town and addressing future challenges.

When two national bond rating agencies recently assigned the highest possible bond ratings to Chapel Hill, the agencies (Standard and Poors, and Moody's) noted the quality of leadership reflected by the Town's solid financial health, management, and overall planning. Chapel Hill's budget for 2007-08, which provides for no tax increase for the second year in a row, is about $87 million ($52.5 million for the General Fund, $14.7 million for the Transportation Fund, and the remainder for various other funds).   

"I am looking forward to serving the Town of Chapel Hill and working with a strong team of professionals in an energetic and progressive organization," Pennoyer said.  "Chapel Hill has a reputation for financial and managerial excellence, and it is an honor to join the team and to work on continuing and building on that tradition."

A native of Norwalk, Conn., Pennoyer has more than 26 years of experience in the his field including positions with the Township of Upper Merion, Penn., the City of Stamford, Conn., and the City of Norwalk, Conn. Pennoyer is married to Mary Foster, who is an associate professor of medicine at Duke University. They are avid cyclists.