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Henrico names Walter as director of Finance

Henrico County Manager Virgil R. Hazelett, P.E. announces the appointment of Eugene H. Walter as director of the Department of Finance, effective May 1.

Walter, who serves as Henrico’s budget director, will succeed John A. Vithoulkas, who was promoted in December to deputy county manager for administration. Vithoulkas has continued to serve as director of Finance.

As Finance director, Walter will lead a department that is responsible for maintaining Henrico’s three AAA bond ratings through sound fiscal management, accurate recording of financial activity and timely preparation of the Comprehensive Annual Financial Report. The department also develops and manages the annual budget, administers taxes and tax-relief programs, maintains the county land book and completes real estate assessments for tax purposes. The department has 157 full-time employees and an operating budget of $12 million for fiscal 2011- 12.

Under Henrico’s county manager form of government, the director of Finance assumes all duties typically performed by the constitutionally elected treasurer and commissioner of revenue. The Department of Finance is organized in five divisions: accounting, the office of budget and management, revenue, treasury and real estate.

A Henrico employee since 1997, Walter worked as a budget analyst and supervisor before becoming budget director in 2008. He holds a bachelor’s degree in economics from the University of South Carolina.