By Gemma Q. Casas
Variety News Staff

THE Commonwealth Utilities Corp. is still looking for a chief financial officer, the vacancy for which was announced several months ago.
CUC spokeswoman Pamela Mathis said economics is a major factor in the agency’s difficulty in hiring a CFO who will assume the post of CUC’s comptroller —a post that has been vacant since 2005.
Mathis said U.S. certified public accountants do not like to work for CUC because other companies in the U.S. offer better wages and benefits.
“We have had so very few responses. The economy in the states is doing well, so the salary that CUC offers for someone with a CPA is lower than in the U.S.,” said Mathis. “It comes down to economics.”
The executive order that reinstated the autonomy of CUC requires the position of CFO to be filled.
According to CUC, applicants must have at least a bachelor’s degree in accounting or financial management from a U.S. accredited institution or one with equivalent accreditation; at least 10 years of professional experience in governmental or financial accounting; and preferably a licensed U.S. certified public accountant.
The CFO will oversee the financial activities of CUC, including its long-term financial strategies and the creation of adequate reserve funds.
The CFO will also analyze revenues and expenditures of the corporation and the rate schedules for power, water and sewer services.