Arche McAdoo, the finance director for the Town of Carrboro, announced his retirement on Nov. 6 after 13 years working with the Town.
Throughout his career, McAdoo has worked in public and nonprofit agencies. He has held several senior-level financial management positions, including at the Baltimore City Solicitor’s Office and the North Carolina Biotechnology Center at Research Triangle Park.
He said the role of a financial officer has evolved throughout the course of his professional career.
“I think initially when I started in my career, the role of the finance officer was strictly debt, limited to all the financial transactions and things," McAdoo said. "Over the years, as the markets changed, and as they changed the management, the finance officers evolved into more strategic planning, policy elements and impact, in addition to all the other financial aspects."
McAdoo, an Orange County native, also received a master’s degree in business administration from the Kenan-Flagler Business School at UNC.
He said one of his proudest accomplishments was expanding Carrboro’s enterprise resource program so more people could access it by creating a comprehensive online approval system. He was also a part of the initial implementation of North Carolina’s Community Development Block Grant Program for non-entitlement cities.
Randee Haven-O’Donnell, a member of the Carrboro Town Council and one of McAdoo’s longtime co-workers, said that because Carrboro does not have the commerce and tax base that their regional partners do, having a fiscally-wise and professional expert is critical.
“He is exceptional at understanding the fiscal challenge and how to build resiliency and creative opportunities for the use of general funds within the Town,” Haven-O'Donnell said.
Haven-O'Donnell said he provided a steady, assured hand during the most trying times of the COVID-19 pandemic and lockdown amid economic uncertainty.
“The reason Carrboro stands on two legs is because of the finances,” Haven-O'Donnell said.
They also said McAdoo was key in planning and outlining the finances with Orange County on the collaborative 203 Project.
The 203 Project is located on Greensboro Street in Carrboro on a municipal parking lot near the center of the town, and is set to open in June 2024. The project will create a three-story facility containing a library and several Town governing entities.
“When you think of the importance of a library to a community, we live in a time when people are narrowing the scope of a library and Carrboro is building a library," Haven-O’Donnell said. "That makes quite a statement about the value of public education and the commitment of Carrboro to provide free public access to not only library materials, but computers and a teen center and a skill center.”
Damon Seils, the mayor of Carrboro, said McAdoo’s legacy of conservative budgeting has served Carrboro well and helped the Town achieve its goals.
"Arche’s approach to budgeting has helped new and experienced council members understand how to do Town budgeting — he knew how to explain things to those of us who are not finance experts in a way that we could understand,” he said.
With McAdoo as financial director, the Town’s Annual Budget Report and Annual Comprehensive Financial Report has been recognized with awards of excellence from the Government Finance Officers Association.
“He's leaving big shoes to fill, but he has definitely earned his retirement," Seils said. "I think it's safe to say that he stayed because we liked him so much, and we kept talking him into staying for so long. I'm really happy that he's finally gonna get some time to relax and enjoy retirement."
McAdoo said that, in his retirement, he is most excited about having free time for himself.
“I guess to have time to do some things for myself that I want to do, that by working full-time you just don’t have enough energy nor time to do some of those things, such as travel,” he said.