Thursday, January 29, 2009

Asbury's Finance Chief Quits

Greg Mayers, Asbury Park's Chief Financial Officer, confirmed today (Jan. 29, 2009) that he will leave the post on Friday, February 6.
Mayers said he has already been sworn in by Plainsboro Twp. (in Middlesex County) to be its financial officer, but he has offered to come in on Saturdays and other times, if City Manager Terry Reidy asks him to help in the transition to a new CFO. Asbury Park's budget has not been set for 2009 yet. This is partly due to the fact that the State hasn't completed its budget. As for residents, Mayers said they don't have to worry about getting new tax bills until July. In June, another Bond Anticipation Note will come due and need to be refinanced or rolled into a bond issue.
Mayers said he'll be giving the city about two and a half weeks notice. He is not aware of any replacement having been chosen as yet.
Asbury Radio will miss Mayers' straight talk and willingness to break down for us the arcane world of municipal finance.

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