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. […]

The Division of Local Government Services [DLGS] has decided the state’s Local Finance Board will not allow Asbury Park to bond $1 million to cover a shortfall in the budget, as detailed in a three-page letter addressed to the mayor and members of the city council as well as city manager Terence Reidy. Instead, the […]

The Division of Local Government Services is investigating the $1 million shortfall found in the city’s 2012 municipal budget, according to Lisa Ryan, director of communication for the New Jersey Department of Community Affairs. The division “has recently met with the former CFO and city officials to hear their sides of the story,” Ryan said […]

City officials recently announced a shortfall of $1,070,000 in the city’s 2012 budget more than a month after its approval — but according to former chief financial officer [CFO] Juan Uribe, those who put the budget together knew of the discrepancy all along. “This was a deliberate move suggested by the auditor to the city […]