Senior Staff

Ernesto R. Flores, President

Since the firm’s inception 25 years ago, the mission has been to meet the facilities and financing needs of California’s school districts and community colleges. Mr. Flores is very proud of the experienced team he has assembled to assist our client base of over 140 districts. CFW continues to be the leading firm annually in bond transactions sold and in the number of successful bond programs approved and implemented — all for the benefit of our clients.

Michael D. Winters, Ed.D., Partner

With over 40 years experience in public school teaching, administration, and facilities planning, Dr. Winters has the knowledge and skills to help districts find the best ways to assess and meet their long term facilities needs. He has worked with many clients to help identify planning and demographic issues that drive enrollment, voter preferences, developer fees, and the need for State facilities funding for new construction and modernization projects. He is also recognized throughout the State for his work in school district reorganizations and assessing unification efforts.

Khushroo Gheyara, Chief Financial Officer

Khushroo Gheyara has had the opportunity to work with over 175 districts during his 15 year tenure at CFW. He has worked in all facets of the firm’s operations. He knows it takes quality services to make your district successful in its efforts and is committed to maintaining the firm’s high standard of service.


Barbara Renteria, CEO, CFW Foundation

Barbara Renteria is the CEO of the CFW Foundation, administering the firm’s annual giving and scholarship program. Under her leadership, the CFW Foundation has made a commitment to allocate $500,000 over a ten year period to qualifying high school seniors to further their college education or career training. She also maintains CFW’s investments, sponsored activities, and systems operations. Her 10 year tenure with the firm has made her a vital component of the firm’s daily operation and commitment to our gifting programs.

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Emilio Flores, Executive Vice President

Emilio Flores has worked on over 120 financings assisting school and community college districts in the issuance of public debt. He sits on the Municipal Securities Rulemaking Board’s Professional Qualifications Committee for Municipal Advisors. Mr. Flores works closely with clients and the executive team to develop planning and financing strategies. In addition Mr. Flores is also responsible for assisting clients with post-issuance obligations compliance.

Rosa Perez, Principal

Rosa Perez has worked throughout the State garnering support to substantially improve our colleges. As a former chancellor of a community college, Ms. Pérez turned her local institution into one of the most admired and sought after colleges for corporate, public and private partnerships and employment. She brings a wealth of experience in community college planning, financing, and operations. As the head of our community college practice, she assures a practitioner’s hand in making recommendations that provide solutions necessary to compete in today’s world.

Janet Kliegl, Vice President – Educational Services

As an educator for over 30 years, Ms Kliegl has served in all facets of K-12 education, including over 14 years as superintendent.  During her tenure she has excelled in advancing test scores, deployment of 1:1 computer technology, the construction and modernization of school facilities and the master planning for the reconfiguration of an elementary school program to K-8 facilities.  She is a leader in building facilities to support the education mission of a changing population and financial landscape.  She is in charge of promoting the need to define the education program to be housed in 21st century learning environments.

Jeremy Cogan, AICP, Assistant Vice President

Jeremy Cogan assists clients with facilities planning, program management, and election services, as well as providing expertise in evaluating 21st century classroom technology infrastructure.  With seven years of experience in planning and public policy, he has led development of dozens of school facility improvement programs as well as conducted public information and sustainable planning initiatives throughout California as well as in India, China, and the U.S. House of Representatives.  Mr. Cogan holds a Master’s degree in Urban Planning from UCLA.