There is a Chief Financial Officer in the Baltimore City Public School System who shall: Be responsible for the day–to–day management and oversight of the fiscal affairs of the Baltimore City Public School System; and Report directly to the Chief Executive Officer. The Chief Executive Officer shall, subject to the approval of the board: Select the Chief Financial Officer; and Establish the salary of the Chief Financial Officer. The employment contract of the Chief Financial Officer shall provide that continued employment is contingent on the effective fiscal management of the Baltimore City public schools. The Chief Financial Officer is not a public officer under the Constitution or the laws of the State.