Freehold finance chief named acting CMFO in Asbury
Richard J. Gartz to replace Juan Uribe, who resigned in August
The city council at its Nov. 19 meeting voted unanimously to hire Freehold borough’s chief financial officer [CFO] as acting chief municipal finance officer [CMFO] in Asbury Park.
Richard J. Gartz is the fulltime CFO for Freehold and will be compensated $80 per hour he serves Asbury Park until a fulltime replacement can be found.
Uribe did not tell city officials why he was leaving in his resignation letter on Aug. 2. His resignation was effective Aug. 16 and his annual salary was $95,000.
Since mid-August, the city’s finances were handled largely by city manager Terence Reidy, external auditor Dave Kaplan and city finance employee Christine Paulin.
Following Uribe’s resignation, city officials announced a $1 million shortfall in the 2012 municipal budget resulting from a discrepancy in health insurance costs versus what the city had set aside for that expense. Officials planned to bond for $1,070,000.
The bond ordinance never garnered the two-thirds majority of council votes necessary for its passage, but after the Division of Local Government Services investigated the situation, they said the city could not borrow the funds anyway. Now, city officials plan to make up for the shortfall using short-term loans and fund transfers.
