Chief Financial Officer Nancy Mitman announced she will retire from the Bonneville Power Administration in July 2016.
Mitman, who was appointed executive vice president and chief financial officer in September of 2014, began her career at BPA in 1988 as an accountant and steadily rose through the ranks of financial management and leadership. As CFO, Mitman oversees capital and debt management, accounting, cash management and budgeting for BPA’s $4.3 billion total budget.
“The Northwest has benefited greatly from Nancy’s incredible wealth of knowledge of federal budgeting and BPA’s financial infrastructure,” said BPA Administrator Elliot Mainzer. “Throughout her tenure, Nancy has kept a steadfast focus on keeping our costs low, maintaining thorough and transparent financial records, and building business practices that are both modern and efficient. In addition, she has brought a longer-term perspective to the comprehensive financial health of our organization that will bring even more benefits to the region for decades to come.”
Before serving as CFO, Mitman acted as BPA’s executive vice president and chief financial officer for more than a year. During that period, BPA conducted the first Capital Investment Review, a public process that involves a new, cross-agency capital prioritization and allows interested parties the opportunity to comment on BPA’s draft asset strategies and 10-year capital forecasts. In addition to multiple stints as acting chief financial officer, she also served as BPA’s treasurer and deputy chief financial officer.
“It’s been a privilege to work with the people at BPA, sharing their passion for public service,” Mitman said. “BPA’s important public responsibilities and the evolution of our industry have offered a multitude of opportunities to contribute to achieving regional benefits and giving back to the community I call home.”
Mitman wanted to make this announcement ahead of her retirement date in order to provide an orderly transition to a new CFO. This should allow more than enough time to conduct the federal selection process and provide a brief overlap period before her departure. BPA will soon post a vacancy announcement for the next chief financial officer, a Senior Executive Service position.
The Bonneville Power Administration is a federal nonprofit agency based in the Pacific Northwest. Although BPA is part of the U.S. Department of Energy, it is self-funding and covers its costs by selling its products and services. BPA markets wholesale electrical power from 31 federal hydro projects in the Columbia River Basin, one nonfederal nuclear plant and several other small nonfederal power plants.