Mafnas was chosen among two final candidates during the CPA board’s last meeting.
“He turned down the offer and he decided that it’s best that he continue his practice in the private sector,” Camacho told Variety on Friday.
Mafnas’ selection was delayed following earlier disagreement among board members who later voted to re-announce the vacancy to get more candidates.
“The board did not retract the decision…but made the offer to Mr. Mafnas who didn’t accept the position at this particular point in time,” Camacho said.
CPA has been operating without a comptroller since the resignation of George Palican last year.
Since then, its acting comptroller is Frances Mafnas.
Camacho said CPA will continue to look for a new comptroller.
“We will announce the post again,” he added.
The comptroller plays a crucial role in addressing the CPA bond indenture issues and other financial concerns, he said.
CPA offers a $65,000 annual pay for the position.
Mafnas is a certified public accountant and has worked for a government agency in the past as comptroller.
