Bill Letteri has announced his retirement as chief financial officer for Albemarle County, effective Aug. 1.
Letteri will have worked for Albemarle County for 13 years at his retirement, capping a career of 25 years of public service in Virginia and North Carolina.
“Albemarle County’s strong financial position is due in large part to Bill’s leadership throughout his career here to develop and manage our financial models, and our capital financial program. For a county of our size, our AAA bond rating from all three credit rating agencies is truly best-in-class. Stewardship is one of the County’s organizational values and Bill and his team are a model of it,” County Executive Jeff Richardson said in a release.
Letteri began his career in Albemarle in 2007, as the director of the Office of Facilities Development. Letteri served as deputy county executive from 2009 to 2018.
As CFO, Letteri oversees the county’s financial systems that support the $457 million annual budget and the supporting functions of accounting, payroll, purchasing, real estate, and revenue administration.
Under his leadership, Albemarle County successfully issued general obligation bonds following the 2016 bond referendum, negotiated the Courts Complex agreement, and upheld Albemarle County’s top credit rating and awards for Excellence in Financial Reporting.
Letteri also recognized the synergies among the County’s Facilities Development, General Services, and Water Resources departments, and led their consolidation into the Department of Facilities and Environmental Services.
Albemarle County will begin the recruitment process for a successor immediately.
“It has been an exciting time to be a part of an evolving and progressive organization. I have witnessed the transformation of a predominantly rural county to one that effectively balances the beauty and value of its natural environment with the needs of a growing urban core,” Letteri said on his retirement. “I am very proud to live in such a great community, and particularly grateful for the opportunity to contribute to an organization that helps keep it that way.”
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