JERSEY CITY, NJ - Elizabeth Castillo has been appointed as the Acting Director of the Department of Finance for the City of Jersey City. Mayor Steven Fulop established the new department earlier this year to further develop fiscal policies and procedures.
Castillo’s accounting career spans more than 21 years of combined experience in governmental, manufacturing, and managerial roles, during which time she also obtained state licensure as a Certified Municipal Financial Officer. As Acting Director, she will oversee five divisions within the Finance Department, including Management and Budget, Collections, Treasury and Debt Management, Accounts and Control, and Payroll.
“Liz Castillo is the epitome of what hard work can accomplish - having started as a clerk for HHS in 2003, she has a track record of success in every step of her career, leading up to her new role as Acting Director of Finance,” said Mayor Fulop. “We are in the midst of historically challenging times as we face unprecedented financial hardships, but I have no doubt she will continue our aggressive efforts in creating a sustainable and resilient fiscal model for Jersey City now and for decades to come.”
In her most recent position as Chief Financial Officer within the Finance Department, Castillo, a Jersey City resident and employee since 2003, has played a key role within the city’s financial team.
“As a single mother, a Jersey City resident, and a Latina, I’m beyond humbled to be entrusted by Mayor Fulop with this great opportunity to continue the important work within the newly established Division of Finance. I’m excited to further solidify our stance as a regional model of what fiscal responsibility can accomplish,” said Castillo.
The newly created Department of Finance is tasked with all budgetary management. As local governments nationwide face crippling budgetary burdens, the statement announcing Castillo’s appointment said, the Fulop Administration’s proactive steps to aggressively address unprecedented financial hardships amid the health and economic crisis have helped alleviate taxpayer burdens while establishing a more stable economic foundation.
“Liz has been a great asset to our finance team, and is the best fit to further lead the city in our objective to best serve the residents and businesses citywide, ” said John Metro, former Director of Finance and current acting Business Administrator.
Despite the recent odds against local governments, the Mayor’s actions were recently cited by Moody’s credit rating as reason to earn a “stable” 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.”
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