DENVER | State Rep. Mark Ferrandino, speaker of the Colorado House, will become Denver Public Schools’ chief financial officer when his term ends in January.

The Denver Post reported Thursday Ferrandino will be paid $145,000 annually and be eligible for up to $15,000 in performance bonuses.

Ferrandino, a Democrat who represents Denver, could not run for re-election because of term limits.

He previously worked in the White House Office of Management and Budget and was a senior budget analyst for the Colorado Department of Health Care Policy and Financing.

Ferrandino was first elected to the state House in 2007.