Dushani Dye, 2022 CFO of the Year in the Government Category

Article by Becky Fillinger, photos provided

A Discussion with Chief Financial Officer, City of Minneapolis, Dushani Dye

CFO Dushani Dye was recently awarded CFO of the Year in the Government Category by the Minneapolis-St Paul Business Journal. We talked to her about being recognized for her work and how it differs from the CFO role in private enterprises. Dye is also a committed community volunteer – learn about her approach to work and giving back below.  

Dushani DyeQ:  Congratulations on being named CFO of the Year in the Government category by the Minneapolis-St. Paul Business Journal. What did winning this award mean to you?

A:  It is a great honor to be recognized, especially as a CFO for the government sector. The last two years have definitely been a challenge for many CFOs, and City of Minneapolis was no exception. The entire finance team, including other leaders throughout the City, rose up to the challenges and was resilient through revenue losses and civil unrest the City experienced. I was recognized for the efforts made by the Finance Department, but there were many others who contributed to my successes. Our work is not complete, but this recognition means that we are on the right track.

Q:  You’ve worked in municipal finance for almost 30 years. Why does it appeal to you? 

A:  Early in my career, I have had the opportunity to work in multiple areas of local government including social services, property management, public works and the attorney’s office. I was able to see the direct correlation between finances and service delivery. Being able to have input into projects and programs and making budget decisions that affect the public we serve was extremely rewarding. As a county budget director, I had the opportunity to find solutions to budget challenges, and seeing the impact the decisions had in the community, was fulfilling for me. As the CFO, I enjoy working towards priorities of the City that affect all residents and visitors rather than making a profit for a company. Some say public service is a calling. That’s definitely true for me.  

Q:  You oversee departments that manage the City’s money – a daunting job that covers so many areas.  One of the tenets of your department, listed on the website, states that your department engages enterprise partners in decision-making to uphold the City’s lasting vibrancy and strength. Can you talk about this idea a little bit – which enterprise partners and how can your department contribute to Minneapolis’ vibrancy and strength? 

A:  It is extremely important to ensure the City can endure unexpected financial challenges. The pandemic is a good example of that, and the City was able to close the last two years with surpluses. This couldn’t have been accomplished by Finance Department alone. As the CFO, I can make recommendations or caution against making certain decisions, but ultimately all leaders of the organization, including elected officials, have to work together to make the best financial decisions for the City. It is also important for me to have the bond ratings agencies acknowledge the financial strength of the City. This evaluation affects the cost of borrowing for the City to complete capital projects and gives the investors’ confidence that the City is financially well managed.

Dye working with Michael Goenner, an Accounting Technician at City of Minneapolis

Q:  In my opinion, your job is so much more difficult than a CFO of a private corporation. How do you stay centered and focused on the tasks to be accomplished each day? 

A:  I start each day with a plan for the day. Most days, the plan is just a plan and I stay flexible to attend to situations as they arise. I have a great team that I get to work with every day, and everyone on it is willing to step in as needed. The decisions made by a City CFO is different than of a private company CFO. Financial decisions made by the City may impact every resident and visitor to the City, and that is a responsibility many private company CFOs don’t have.  

Q:  You’re on the board of Guild Services. Why is it important to you to support their mission? 

A:  Guild Services offers community-based mental health services and also helps individuals find safe housing and employment. Guild fulfills the unmet needs of the community and does amazing work. I see the intersection of my work with the community as the CFO for the City and the role Guild plays in social services. I find it rewarding to be able to offer my expertise as a financial professional and assist the organization to be successful. With mental health issues having been escalated since the pandemic, Guild Services’ dedicated staff has stepped up to find solutions. I am committed to playing a supporting role in the organization as I believe in supporting those struggling with mental health.  

Q:  How may we follow your department’s news?

A:  Finance Department news and all City news can be found at https://www.minneapolismn.gov/news/.