“This is a great opportunity to participate in developing fiscal policies and procedures, contributing to improved government, and to be able to bring these tools back to Jersey City to further our efforts for the benefit of Jersey City taxpayers,” said John Metro, Director of the Department of Finance. “My goal, as is shared by the Administration, is to promote and facilitate positive change rather than merely codify the current accepted practice.”
The committee was formed by the Government Finance Officers Association (GFOA), to serve as a forum for the exchange of information about techniques in public budgeting and management. GFOA Committees are empowered to initiate policy statements, best practices, and advisories. The appointed government finance professionals from across the country collaborate to provide fellow financiers with timely information, practical educational opportunities, high-quality professional publications, and the latest information on best practices.
“We have been making internal changes to streamline our budgetary system, and John has worked to create comprehensive fiscal management plans to better our financial policies and safeguards,” said Mayor Fulop. “In recent months, we faced a crippling $70 million dollar budget gap due to the pandemic but were still able to achieve a balanced budget with no tax increases, as we have done for 6 of the last 7 years. These achievements ultimately affect our taxpayers’ pockets, and I believe this appointment will further those efforts.”
The Administration’s financial achievements were also recently recognized by Moody’s Investors Service forputting Jersey City finances on a positive trajectory. Jersey City earned a “stable” credit rating this year compared to most other cities seeing credit downgrades and negative reviews. The Moody’s report credits, “the city government is taking strong action to address both the public health needs of the city and the budgetary implications thereof. The city also has extensive plans to address the substantial expected losses of revenue.”
Metro’s three-year term on the committee begins immediately and expires on September 15, 2023.