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Department of Finance adding deputy director

The Idaho Department of Finance is hiring a deputy director.

The new position was approved by the Idaho Legislature during the 2018 session for fiscal year 2019, which began July 1. The department’s budget passed with little dissent, receiving unanimous votes from the Joint Finance-Appropriations Committee (JFAC) and the Senate, and a 58-5-7 vote from the House with no debate on the appropriation.

photo of gavin gee

Gavin Gee

“For many years, the Department’s increased operating tempo and number of regulated entities has been steadily increasing,” said Gavin Gee, director. “In 1998, we had 62,308 regulated entities; as of this July, we had over 191,000. We looked at operational models of agencies our size in requesting this position. Deputy directors are present at many agencies, so we specifically looked at how agencies near our size use them. The Idaho Department of Insurance was a good benchmark, as they have a deputy director and are similar in size and regulatory function.”

During the budget hearing, Gee said the deputy director could also stand in when the director is out of the state on business or in the hospital. Gee was out of the office for a number of months in 2017 recovering from a serious accident.

The Department of Finance is a dedicated fund agency, as opposed to a general fund agency, meaning its budget comes out of fees it charges rather than from taxpayers. Traditionally, the Legislature doesn’t question dedicated fund agencies about how they spend their money as strongly as they do general fund agencies. In fact, the department reverts some of the fees it collects to the general fund. In the previous year, that amounted to $5.3 million, Keith Bybee, deputy division manager of the budget & policy analysis division of the legislative services office, told JFAC in January. It regulates banks and credit unions, as well as cemeteries, collection agencies, and finance and securities companies.

Interested people can apply through Sept. 17, Gee said. “We hope to review the applications and interview the finalists by the end of September and fill the position shortly thereafter.”

About Sharon Fisher

Sharon Fisher is an Idaho Business Review staff writer, covering financial institutions, technology, and business development. She holds a bachelor of science in computer science from Rensselaer Polytechnic Institute, and a masters in public administration and graduate certificates in geographic informational analysis and in community and regional planning from Boise State University. She likes explaining things and going to meetings. Join me on Twitter at @IBR_SLFisher.

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