CPA names new comptroller

After months of searching for a new comptroller for the Commonwealth Ports Authority, the board approved yesterday the hiring of David Blake, the only certified public accountant among the four applicants that submitted credentials to the agency.

Efrain S. Camacho, CPA executive director, reported yesterday that Blake was given a one-year contract, with an annual compensation of $65,000.

The position, which has been vacant since the resignation of George Palican in 2007, was supposed to be filled by Rufo Mafnas, who later rejected the offer of the agency.

Mafnas, also a CPA, was the committee’s choice for the position but he later turned down the offer in favor of private practice.

CPA since then had hired a consultant—Bruce McMillan—to do some financial analysis and assessments on the airport and seaport bond indenture agreements.

The agency was earlier declared under a state of emergency and its management transferred to the Executive Branch due to bond indenture problems.

Although it has already hired a comptroller, Camacho said the agency will retain the service of McMillan, who receives a maximum 40-hour retainer’s fee from the agency.

“At present, we’re going to keep our contract with McMillan because CPA still needs his service pertaining to our bond indenture issues,” Camacho told Saipan Tribune.

McMillan was instrumental in the implementation of new rates for CNMI seaports and the airport, which is still in the initial stages of enforcement.

“Every month, we’re getting new data from the consultant to see the changes and impact of the new rates both for airport and seaports. Through these data, we will be able to determine if there’s a need to consider some changes,” he said.

Camacho said CPA intends to keep McMillan but in a less demand capacity.

“With the new comptroller onboard, we’re expecting that some works of the financial consultant will be turned over to him, resulting in a lighter duty for the consultant. In the end, we’re looking at reducing the 40-hour service work of Mr. McMillan,” Camacho said, adding that the consultant’s main task is the airport and seaport bond indenture issues.

The CPA board also approved yesterday the inclusion of Blake among the authorized signatories of financial documents and checks for the agency, along with the board chair and executive director of CPA.