Durango Chief Financial Officer Devon Schmidt is leaving her role with the city after accepting another CFO position in St. Pete Beach, Florida.
City Manager José Madrigal announced Schmidt’s departure after she reported the city was awarded a Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association.
The award is considered “the highest honor in governmental accounting and financial reporting,” Schmidt said in her presentation.
Madrigal said Schmidt started with the city in late 2019 following an embezzlement scandal that damaged public trust and staff morale.
He said Schmidt quickly stepped in to help the city’s finance department become an award-winning team that has garnered statewide and national recognition for its financial reporting.
Durango City Council approved her permanent status as CFO in August 2023 after she formally took the acting title in April 2023.
Schmidt told The Durango Herald the city’s budgeting documents were included by California State University, Stanislaus faculty in a public budgeting textbook as examples of clarity and effectiveness, and the Colorado Department of Local Affairs uses the city as a model for its budgeting guide, “Colorado Budget Law Basics For Local Governments.”
She said when she became the CFO, the city’s top financial priorities became “rebuilding trust and strengthening financial oversight.” The finance department worked to enhance internal controls to prevent further mismanagement of public funds and cooperated with Colorado Bureau of Investigation audits.
Since 2022, the city has achieved the GFOA Distinguished Budget Award with outstanding recognition and the Certificate of Achievement for Excellence in Financial Reporting, she said.
She added the city’s 2023 financial audit returned zero findings, a “significant accomplishment demonstrating strong financial management and compliance.”
Among her proudest achievements is a cultural shift within the city’s finance department with an emphasis on collaboration, accountability and continuous improvement. She said the finance department's biggest challenges since 2019 were restoring public trust, balancing complex audits with daily operations, and strengthening financial policies for long-term sustainability.
“Today, Durango’s finances are stronger, more transparent and well-managed than when I started,” she said. “The next CFO will inherit a high-performing team and a system built for long-term success.”
Despite Schmidt’s success with the city of Durango, it is time for her to move on, she said.
“My family and I have always had an affinity for Florida; moving there has been a long-term goal. Sometimes, opportunities come sooner than expected, and this was one of those moments,” she said. “The opportunity to serve as finance director for St. Pete Beach was an ideal next step, professionally and personally.”
The move will allow Schmidt to continue meaningful work in government finance while fulfilling a lifelong dream, she said.
“While I will deeply miss the Durango team, I am excited for this new chapter and confident that the city’s finance department will continue to thrive,” she said.
Schmidt’s last day with the city of Durango is Friday. The city contracted Cheryl Turney, who started on Monday, to serve as interim CFO. Schmidt is working with Turney this week to help with the transition, said Tom Sluis, city spokesman.
Turney has over 35 years of experience in local government financial management and procurement, he said. She previously held leadership positions such as assistant finance director for the city of College Station, Texas, and procurement manager for the San Jacinto River Authority in Texas.
cburney@durangoherald.com
