At yesterday’s Borough Council meeting Ann DeGennaro was named as Avalon’s new Chief Financial Officer. She is taking on the role that has long been filled by James Craft, who is retiring after 26 years of service at the end of the month.
Mayor John McCorristin says that, “Avalon is in extremely capable hands with Ann being our new Chief Financial Officer as she and Jim are responsible for the financial success enjoyed in the Borough. Ann has served us as an Assistant Comptroller for 22 years and is intimately familiar with the Borough’s financial management practices and policies. As much as we will miss working with Jim, we enthusiastically welcome Ann to the top position in the Avalon Department of Revenue and Finance”.
An Avalon employee since 2001, DeGennaro began as a payroll clerk before being promoted to Assistant Comptroller. She earned her Municipal Finance Officer certification in 2011 and her Qualified Purchasing Agent Certification in 2023 and is a graduate of Stockton University.
Jim Craft has served as Avalon’s Chief Financial Officer since 1997. During his tenure, the borough has achieved the lowest municipal tax rate of any developed community in New Jersey, earned and maintained a Standard and Poor’s bond rating of AAA, and completely paid down all long-term general obligation debt. Avalon has only experienced one small tax rate increase since 2015, either maintaining or reducing the rate every other year, including this one.
In honor of his years of service, the Avalon Home and Land Owners Association made a donation of $300 to Beacon Animal Rescue in his name.
Images courtesy of the Borough of Avalon.
Pictured in top image: James Craft, Council President Jamie McDermott, and Ann DeGennaro
Pictured in bottom image: John Bell, James Craft, and Tony Newshel
-
-
-
-
-