Avalon Welcomes Ann DeGennaro as New CFO, Honors James Craft's 26-Year Legacy

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The Avalon Borough Council has appointed Ann DeGennaro as the new Chief Financial Officer, replacing James Craft who will retire on May 31, 2024, after serving for 26 years. The appointment was confirmed at the council meeting on May 22, 2024. DeGennaro has over two decades of experience in municipal finance within Avalon's financial team.

Mayor John McCorristin expressed confidence in DeGennaro's abilities, noting her extensive experience and key contributions to the borough's financial management. Previously, as Assistant Comptroller, DeGennaro managed Avalon's financial operations, preparing her to succeed Craft.

Ann DeGennaro started her career at the Borough of Avalon in 2001 as a payroll clerk and was later promoted to Assistant Comptroller. Her responsibilities included budget preparation and financial oversight. She holds a Municipal Finance Officer certification and a Qualified Purchasing Agent Certification, qualifications that prepare her for her new role as Chief Financial Officer.

James Craft is recognized for his prudent financial management. During his tenure, Avalon maintained the lowest municipal tax rate in New Jersey, achieved a AAA bond rating, and eliminated long-term debt. His policies have supported fiscal stability and growth in the community.