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City Communications Office

City of Kansas City, Mo.

http://www.kcmo.org

CONTACT: Mary Charles, city communications officer, (816) 513-1356

FOR IMMEDIATE RELEASE: Jan. 15, 2010

Yates resigns as chief financial officer

Landes appointed director of Finance Department

Acting City Manager Troy Schulte has announced the resignation of Jeffrey A. Yates, chief financial officer and director of the Finance Department for the City of Kansas City, Mo. Yates’ resignation is effective Jan. 15.

“I wish Jeff much success in his decision to pursue other career opportunities and am appreciative of his contributions and service to the City,” Schulte said. Schulte cited an update of the City's business tax regulations and improved communications with external stakeholders as important and lasting accomplishments made by Yates.

Schulte also announced the appointment of City Treasurer Randall Landes to the position of director of the Finance Department effective Jan. 15. "With Randy’s proven leadership and extensive experience serving as city treasurer, I am confident he will have an immediate and positive impact on the City’s financial operations during these difficult economic times,” Schulte said.

Schulte has tasked Landes and the Finance Department with making the following improvements in its operations: improved and timely financial reporting of the City's fiscal condition along with a reduction in annual audit findings; aggressive and equitable enforcement and collection of the City's current taxes; and a targeted restructuring of the City's $1.5 billion tax-supported bond portfolio to minimize market risk and protect the City's credit ratings.

Landes, a lifelong resident of Kansas City, is a graduate of Center High School and holds bachelor’s and master’s degrees in business administration from Rockhurst University in Kansas City. A 20-year City employee, Landes began his career with the City in August of 1989 as an analyst in the Office of Management and Budget and also worked in the Parks and Recreation Department, prior to his appointment as city treasurer in 1996. A certified treasury professional, Landes has been recognized with awards from the Association for Financial Professionals and the Association for Public Treasurers of United States and Canada.

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