San Diego County Water Authority Finance Director Lisa Marie Harris is the CFO of the Year in the Public Sector category by the San Diego Business Journal. Harris and the other winners are celebrated in a special section of the publication.
Harris has served as director of finance and treasurer for the Water Authority since May 2014, capping 30 years of experience in both public and private finance.
San Diego County Water Authority Finance Director Lisa Marie Harris has been named CFO of the Year in the Public Sector category by the San Diego Business Journal.
Harris has served as director of finance and treasurer for the Water Authority since May 2014, capping 30 years of experience in both public and private finance. In her current role, she is responsible for overseeing the Water Authority’s $1.98 billion debt portfolio, a $503 million investment portfolio, the development of the biannual $1.7 billion operating budget, and setting annual rates and charges.
San Diego County Water Authority Finance Director Lisa Marie Harris has been named CFO of the Year in the Public Sector category by the San Diego Business Journal.
Harris has served as director of finance and treasurer for the Water Authority since May 2014, capping 30 years of experience in both public and private finance. In her current role, she is responsible for overseeing the Water Authority’s $1.98 billion debt portfolio, a $503 million investment portfolio, the development of the biannual $1.7 billion operating budget, and setting annual rates and charges.
“The San Diego Business Journal could not have selected a better example of dedicated public service than Lisa Marie Harris,” said Water Authority General Manager Sandra L. Kerl. “Over the past seven years, Lisa Marie has led strategic initiatives that have improved the financial health of the Water Authority, benefitting our member agencies and the region’s ratepayers, while demonstrating leadership for employees who provide essential water services to San Diego County.”
Each year, the San Diego Business Journal honors the financial executives with its CFO of the Year Awards that recognize contributions to growth, leadership, and community involvement. A panel of independent judges, drawn from the region’s financial leaders, selected the 2022 candidates.
During the peak of the pandemic, she advocated for refinancing Water Authority debt and then timed the market to minimize costs for the agency. Harris’ financial savvy and keen sense of timing saved the region $48 million, which will be applied to future rate cycles. Photo: San Diego County Water Authority
Harris’ sustained excellence and financial acumen have been critical to minimizing wholesale water rate increases despite inflationary pressures on energy, chemicals, and other materials. In addition, she is helping to lead agency initiatives to ensure long-term fiscal sustainability, reliability, and affordability.
“I am honored to receive this recognition, which reflects the work of the entire Water Authority Finance Department team,” said Harris. “It’s also important to recognize our Board of Directors, which provides strategic direction and ultimately makes the difficult decisions to balance all of the complex factors necessary to sustain water supplies for San Diego County.”
Among her recent accomplishments, Harris led the Water Authority’s successful efforts to earn strong credit ratings from the three major U.S. rating agencies. High ratings allow the agency to optimize its debt portfolio and minimize the cost of financing vital water reliability projects, which reduces long-term costs.
During the peak of the pandemic, she advocated for refinancing Water Authority debt and then timed the market to minimize costs for the agency. Harris’ financial savvy and keen sense of timing saved the region $48 million, which will be applied to future rate cycles.
“I am honored to receive this recognition, which reflects the work of the entire Water Authority Finance Department team,” said Harris. “It’s also important to recognize our Board of Directors, which provides strategic direction and ultimately makes the difficult decisions to balance all of the complex factors necessary to sustain water supplies for San Diego County.” Photo: San Diego County Water Authority
Prior to joining the Water Authority, Harris served as chief deputy treasurer for the County of San Diego Treasurer-Tax Collector’s Office; executive director of California Debt and Investment Advisory Commission; assistant deputy airport director for the City and County of San Francisco – San Francisco International Airport; and senior vice president for Siebert Brandford Shank LLC.
Harris holds a bachelor’s degree in Economics from UC Berkeley and a master’s degree in Public Policy from the University of Michigan. Harris is a past executive board member of the Debt and Nominations Committees for the Government Finance Officers Association; past executive board member for Women in Public Finance; and founding member and vice president for the San Diego Chapter of Women in Public Finance.
San Diego Mayor Todd Gloria appointed Harris to the City of San Diego Employees Retirement board in May 2021, and she serves on the Investment Committee. Harris was recently appointed to the board of directors of San Diego-based Wakeland Housing Corporation, which develops affordable housing in California.
March 25, 2022 – San Diego County Water Authority Finance Director Lisa Marie Harris has been named CFO of the Year in the Public Sector category by The San Diego Business Journal.
More than 18 months into the pandemic, COVID-19 still reigns as the most pressing concern for California issuers.
During a panel discussion Tuesday at The Bond Buyer’s California Public Finance virtual conference, every discussion involved the pandemic in some way.
The Senate and House will negotiate soon on robust legislation for water infrastructure projects, which is especially critical for water and wastewater facilities during the coronavirus pandemic.
In a letter sent to Republican and Democratic congressional infrastructure leadership on Monday, the National Association of Clean Water Agencies urged that the Water Resources Development Act of 2020 authorize strong funding for the public water sector.
The San Diego County Water Authority’s decision to do a forward delivery on one of two series for a $400 million refunding paid off with the water wholesaler realizing $67.4 million in savings.
The Water Authority decided to explore what has become a more frequent option used by issuers since tax-exempt advance refundings were eliminated by the 2017 federal tax bill with the aim of realizing greater savings for ratepayers, said Lisa Marie Harris, the water authority’s finance director.
Co-lead managers B of A Securities and Loop Capital Markets priced Wednesday a $283.5 million series and $117.7 million series of water revenue refunding bonds. Orrick Herrington & Sutcliffe LLP is bond counsel. Montague DeRose and Associates LLC and Acacia Financial Group are co-municipal advisors.
Poseidon Resources received a one-notch upgrade to BBB from Fitch Ratings ahead of plans to privately place a $45 million note to finance construction of a new intake system for its desalination plant in Carlsbad, California.
Bank of America Merrill Lynch won the right to purchase the three-year note, expected to close in November, according to sources close to the deal.
For Lisa Marie Harris, serving as the director of finance for the San Diego County Water Authority is far more than a job. It’s part of a calling that started in college.
As an undergrad, Harris secured a fellowship to study public policy at the University of Michigan, which confirmed her desire to pursue a career in government finance. Today, she is responsible for overseeing the Water Authority’s $2.3 billion debt portfolio, developing the agency’s bi-annual $1.5 billion operating budget, and setting the agency’s annual rates and charges.
“I consider it a noble profession,” said Harris, who led the Water Authority’s successful efforts to earn a AAA rating from Standard & Poor’s in 2016. “It’s been rewarding to know I assisted my community and protected the assets of my community.”
That approach to her job is part of the reason that Harris was selected to deliver the keynote address at the 2018 Municipal Bond Women’s Forum on October 18 in San Francisco. The organization comprises women leaders in the municipal bond industry, including public finance bankers, analysts, traders, brokers, issuers and portfolio managers. Harris is the only speaker on the agenda from the public sector.
After earning her master’s degree in public policy at Michigan, Harris served in several leadership positions, starting as a senior economist at the U.S. Environmental Protection Agency. Then, she served as chief finance officer for the Emergency Communications Department at the City of San Francisco; assistant deputy director of the San Francisco International Airport; and executive director of the California Debt and Investment Advisory Commission for the California State Treasurer’s Office.
Harris arrived in San Diego as chief deputy treasurer for San Diego County Treasurer/Tax Collector Dan McAllister to manage the county’s $5 billion investment portfolio. It was the perfect venue to showcase what Harris sees as her strengths: her readiness to accept challenging assignments, her ability to make adjustments, and her willingness to ask for help.
After seven years, Harris left for a stint in investment banking. But she continued to feel the need to serve the larger community – and when the Water Authority offered her a position as director of finance and treasurer in 2014, she eagerly accepted.
Today, she touts the same philosophy that she has for most of her career: “Strive for excellence. Don’t be mediocre. Go for the best and try to be the best.”
Harris attributes her success in part to civic engagement and professional contributions outside the workplace. She strongly recommends that women in financial careers pursue opportunities to develop their skills and contribute value outside of the workplace as a career-building strategy.
In addition to her participation in the Municipal Bond Women’s Forum, Harris also is a longtime member of the Government Finance Officers Association, having served on various committees, the executive board, and the nominating committee that selects the organization’s president. In addition, Harris recently completed a three-year term on the national board of Women in Public Finance, and she helped charter the San Diego chapter of this nationwide organization.
Harris explains the benefit of seeking leadership opportunities in volunteer roles: “You get to demonstrate to the world what you bring outside of work,” she said. “You can’t always receive accolades and demonstrate your skill sets at your job.”
She also advises colleagues across the financial services industry to seek help achieving a work-life balance – a topic she plans to address during her keynote address in October.
“If you want to have children, you have to set up the infrastructure in your family,” said Harris, who has been married 28 years and has two children in college. “I think I got it done,” she said, “but I couldn’t have done it without my husband.”
The Water News Network is San Diego County’s source for water news and information.
