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News Release

FOR IMMEDIATE RELEASE
April 18, 2008
CONTACT:Media and Communications
951.413.3053

Finance Director/City Treasurer to retire

Moreno Valley Finance Director and City Treasurer Steven M. Chapman has announced that he will retire from his position effective January 9, 2009. He has served in the position since June 1997. Chapman has nearly 34 years in public service. Prior to coming to Moreno Valley, Chapman served as Finance Director for the City of Redlands for six years, and Controller for two years. Before he was hired in Redlands, he began his public service career in the San Bernardino County Auditor/Controller-Recorder’s Office, working his way from student intern in 1974 to accounting manager in 1982, a position he held for 7 years.

City Manager Robert G. Gutierrez said he has enjoyed working with Chapman during his tenure with the City of Moreno Valley. “Steve’s knowledge, experience and high sense of professionalism have been greatly appreciated and valued by the entire organization. He has been a key member of my Executive Team, where his quick wit and great sense of humor will be greatly missed,” Gutierrez said.

“While I look forward to enjoying my retirement, I will miss working for the City of Moreno Valley. Without hesitation, I consider this the best job I have ever held, and I’m proud of my many accomplishments here at the City,” Chapman said.

Chapman is credited with helping to maintain the City's financial stability during economic challenges Moreno Valley experienced in the mid-1990s, and implementing a number of best practices in the City's Finance Department, including the two-year budget process. Additionally, under Chapman’s leadership, Moreno Valley's Finance Department received its very first followed by 8 more awards for Excellence in Financial Reporting from the Government Finance Officers Association.

In 2007, credit rating agency Standard and Poor’s stated in a published article that it deems the City of Moreno Valley’s financial management practices to be “strong” under its new Financial Management Assessment (FMA) methodology, which highlights aspects of management that are common to most governments. The FMA is S&P’s newest analytical tool to evaluate established and ongoing management practices and polices in seven areas most likely to affect credit quality. In their evaluation of each of these critical areas of financial management, S&P awarded the City the highest score – “strong”. “I hope that’s part of my legacy here in Moreno Valley,” said Chapman. “I’ve been blessed with competent and professional City staff, a very supportive City Manager and Executive Team, and the same City Council during my entire tenure here in Moreno Valley.”

In the months leading up to his retirement, Chapman will be involved in facilitating the City Council’s adoption of the proposed FY 2008-09 budget and work to ensure a smooth transition of the department to his successor.