Marlboro Township CFO Named To Lead Statewide Board

MARLBORO, NJ — Marlboro Township’s Chief Financial Officer (CFO) has been officially sworn in as President of the NJ Government Finance Officers Association, the township recently announced.

Lori Russo, CPA, CMFO, was sworn in as president of the NJGFOA on Sept. 9, during the association’s annual conference at the Hard Rock Hotel in Atlantic City.

According to township officials, Russo was unanimously elected as president by a membership comprised of municipal and county professionals throughout NJ, and will serve in the position for the next two years.

Prior to being sworn in as president, Russo served as 1st and 2nd vice presidents of the organization between 2023 and 2025.

During a recent Township Council meeting, Mayor Jonathan Hornik congratulated Russo on her achievement.

“A strong management team and a healthy balance sheet are the hallmarks of a great community,” Hornik said. “It is in this context, and with great pride, that I announce that Lori Russo, Marlboro Township Chief Financial Officer, has been sworn in as President of the New Jersey Government Finance Officers Association (NJGFOA).”

“Over the course of Ms. Russo’s tenure, Marlboro has received several credit rating upgrades, culminating in a triple A rating from both Standard & Poor’s and Moody’s Investor Service, which we have maintained since 2021,” Hornik continued. “There are only six towns in the entire State who share this distinction, which puts us in the top tier.”

Hornik went on to say that the township has received clean audit reports, free of any comments, from three independent accounting firms for 14 consecutive years, with Russo directing financial operations for 12 of those years.

He congratulated Russo on “another great achievement, and her pivotal role in maintaining Marlboro’s status as one of the premier suburban communities in the state.”

“I, too, am very proud of Marlboro’s financial position, reputation, and standing in the State,” Russo said. “In this new role, I will continue to advocate on behalf of our membership and work to develop the next generation of municipal financial professionals.”

“I appreciate my colleagues for their confidence in me, and want to especially thank Mayor Hornik and the Marlboro Township employees for supporting me in my career and endeavors,” Russo continued.

Established in 1937, the NJGFOA was created as a professional association of government finance officers working together to enhance and promote professionalism within the governmental community.

To learn more about the association, you can visit their website.