Board of Trustees

Jay Valentine

Chairman — City of Grand Junction
Chief Financial Officer

Jay Valentine has served the City of Grand Junction since 1999 and currently serves as the City’s Chief Financial Officer (CFO). Over the course of his career with the City, he has held several leadership roles, including Financial Operations Manager, Deputy Director of Finance, and General Services Director. As CFO, Jay oversees the Finance Department, with responsibilities that include budget development and capital planning, investment and debt management, and long-range financial strategy. He also directly oversees the Information Technology Department and the General Services Department, which manage the City’s internal service and enterprise operations.

Jay holds a bachelor’s degree in Finance from the University of Northern Colorado, where he was inducted into the UNC Athletic Hall of Fame in 2011, and a Master’s degree in Public Administration from the University of Colorado Denver.

Byron Jefferson

Vice Chair — South Adams County Water and Sanitation District
Director of Financial Affairs

Byron brings almost 40 years of accounting, finance, and treasury experience with almost 35 of those in the public sector including municipality, and special districts. He is currently Director of Financial Affairs (CFO) of South Adams County Water and Sanitation District, which covers 65 square miles in Adams County, Colorado and serves more than 70,000 citizens. The District’s 115 employees serve the Commerce City and Adams County population; the District is a separate entity and is presently the largest combined Water and Sanitation District in the state of Colorado, covering over 65 square miles and serving nearly 70,000 customers.

He works with investment advisors and banks in managing The District’s $170+M portfolio and debt issuance processes, respectively. He has been involved with over $1B of debt issuance throughout his career. His extensive experience and knowledge provides significant value to CSAFE’s Participants. Trustee Jefferson is Vice-Chair of the CSAFE Board of Trustees and has been on the Board since 2018.

Trustee Jefferson is a Certified Treasury Professional (CTP) and prior roles include the Finance Director, Administrative Services Manager, Revenue Manager and Finance and Treasury Administrator, with City of Aurora, City of Westminster and Denver Water as well.

He is an active member in CGFOA, having served as a Board member and on the education committee and holds a BA in Finance from “The” Colorado State University.

Molly Kostelecky, CPA

Secretary — Metro Water Recovery
Chief Financial Officer

Molly has served on the CSAFE board since 2018 and brings almost 30 years of public sector accounting and finance experience at various levels and types of government, including state, municipal, and special district. She is currently the Chief Financial Officer of Metro Water Recovery, which serves more than 2 million people across a 715-square mile service area. Metro Water Recovery operates the largest wastewater treatment facility in the Rocky Mountain West, partners with 65 local governments including municipalities and sanitation districts, and employs over 450 people. She actively works with investment advisors and banks in managing Metro Water Recovery’s $300m portfolio and debt issuance processes. Her ability to leverage this extensive knowledge as a Trustee provides significant value to CSAFE’s Participants. Trustee Kostelecky is the Secretary of the CSAFE Board of Trustees and serves on the Audit Committee. She has been on the Board since 2018.

Prior roles include the Finance Director for the Town of Erie and Assistant Finance Director for the City of Longmont. She is an active member in CGFOA and GFOA, holds a BA in Business from Oregon State University, and is a licensed CPA.

Jonathan Levesque

Treasurer — Littleton Public Schools
Chief Financial Officer

Jonathan has more than 17 years of experience in various accounting and finance roles at Littleton Public Schools where he is currently the Chief Financial Officer, overseeing its finance, purchasing, payroll, nutrition services, and risk and investment management departments and functions. Littleton Public Schools operates 26 schools and programs, with a staff of over 1,800 and approximately 13,000 students. It is the only school district in the Denver Metro Area that has been “Accredited With Distinction” by the Colorado Department of Education eight times. Additionally, it has the lowest dropout and highest graduation rate of any school district in the Denver Metro Area. CSAFE Participants benefit tremendously from Trustee Levesque’s financial aptitude, school finance expertise, and commitment to service. Serving on the Board since 2020, he is CSAFE’s Treasurer and a member of the Credit Committee.

Prior roles include public accounting at KPMG and corporate accounting at JBS USA. He is an active member of ASBO, CASBO, CASE, and CSFP, serving as President of CASE’s Department of Business Officials; as a member of CASBO’s Board of Directors until 2027; and as Secretary for CSFP. A Colorado native, Jonathan earned a BS in Accounting and a Master of Accountancy from the University of Denver.

Bruk Mulaw, CPA

Trustee — West Metro Fire Protection District
Finance Director

Bruk has been the Finance Director for West Metro Fire Protection District since 2020. Prior to that, he was the Senior Accountant for the same district for seven years. Before joining West Metro Fire, Bruk was a Staff Accountant at the Denver District Attorney’s office for two years. Bruk holds a bachelor’s degree in accounting and master’s degree in business administration (MBA) from Addis Ababa University. Bruk has held the Certified Public Accountant designation since 2012. He is a member of numerous groups including AICPA, COCPA, GFOA and CGFOA. Bruk was first elected to the CSAFE Board of Trustees in 2023.

Jerry DiTullio

Trustee — Jefferson County
Treasurer

Jerry has been a resident of Jefferson County and the City of Wheat Ridge for more than 30 years along with his wife Julie and their two adult children. Jerry was elected Jefferson County Treasurer in November 2018 and re-elected in 2022. Jerry’s Bachelor of Science Degree in Computer Science & Management is from Metropolitan State University. He earned an MBA from Regis University and also a Master’s in Education (M.Ed.) from Regis University. Over the years, Jerry changed careers by his own choice. He believes, “It is always in one’s best interest to keep re-inventing yourself. It helps keep your mind clear and open.” Jerry has owned a software consulting company and a coffee shop in Wheat Ridge. Additionally, he worked as a commercial banker and taught special education classes in Jefferson County Public Schools at Wheat Ridge High School. Jerry was involved with city government in Wheat Ridge and the metro area for over 23 years. He was elected to serve as Treasurer, Mayor, and City Council member for the City of Wheat Ridge. Jerry was first appointed to the CSAFE Board of Trustees in 2019.

Doug Buchanan, CPA

Trustee — City of Thornton
Deputy Finance Director

With nearly two decades of dedicated service to the City of Thornton, Doug currently serves as the Deputy Finance Director, a role he has held since 2020. He progressed from a Tax Auditor with the city to the Tax Manager, and he now oversees the Tax and Utility Billing divisions and manages the city’s entire investment portfolio. A Certified Public Accountant with three years of experience in public accounting, Doug earned a bachelor’s degrees in both Accounting and Sociology from Colorado Mesa University.