The City of Covington Finance Director Muhammed Owusu is retiring nearly one month shy of his four year anniversary in the position. Owusu’s official last day of employment was on March 30.
“It’s time to hang up my boots,” said Owusu, who will be returning to his home state of Virginia. “I’m tired.”
Owusu’s main focus now turns to his family, he said. Owusu cites the desire to spend more time with his wife, children, and grandchildren. Owusu has been making 1,000 mile round trips to Virginia to visit his wife, Habiba, who stayed behind for work.
Owusu came to the United States at the age of 25 from Ghana. He’s had a career in finance spanning over 30 years with stops at public agencies in New York, Virginia and Washington D.C.
“Covington is a great place to work, seriously,” Owusu said. “My staff, my colleagues. I got up every morning and I felt good about coming to work. There are not a lot of places where you can’t say that.”
Assistant Finance Director Jerome Heist will serve as the interim finance director.
“I hate to see Muhammed go,” said City Manager Ken smith, who started within weeks of Owusu. “He’s just an all-around good guy who’s been fun to work with, and his leadership has helped put the Finance Department and the City’s finances on solid footing.”
Since Owusu’s arrival, Covington news releases have documented a steady array of changes with the department, which had been decimated by staff cuts in the wake of the 2008 Financial Crisis and a 2014 embezzlement case. Those changes since Owusu’s arrival included:
- Two upgrades in two years in the City’s bond rating, courtesy of Moody’s Investors Service.
- The addition of multi-year financial planning to go with the annual fiscal year budget.
- Quarterly presentations and monthly written reports updating the Board of Commissioners about the City’s budget.
- Cleaner audits.
- New, expanded, and modernized policies related to investments, debt management, fund balances, and financial management, plus a 49-page Accounting Policies and Procedures Manual.
Owusu said he enjoyed his relationships in the office and watching the support from the community grow.
“There’s a buzz going on in Covington,” he said. “You can feel it. And it was good to be a part of it.”
