MARLBORO TOWNSHIP, NEW JERSEY (October 9, 2025) – Marlboro Township Chief Financial
Officer, Lori Russo, CPA, CMFO, was sworn in as President of the New Jersey Government
Finance Officers Association (NJGFOA) on September 9, 2025 during the NJGFOA annual
conference held at the Hard Rock Hotel in Atlantic City, New Jersey. Russo previously served as
1st and 2nd Vice Presidents of the organization between 2023 and 2025. At a recent Township
Council meeting Mayor Jonathan Hornik congratulated Ms. Russo on her achievement.
Mayor Jonathan Hornik stated, “A strong management team and a healthy balance sheet are the
hallmarks of a great community. 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).” He continued, “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. There are only six towns in the entire State who share this distinction which puts us
in the top tier.”
Ms. Russo was unanimously elected by the membership comprised of Municipal and County
financial professionals throughout the state to serve in this position for the next two years.
Russo said, “I, too, am very proud of Marlboro’s financial position, reputation and standing in the
State. 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.” She continued, “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.”
Mayor Hornik stated, “A testament to the quality of Marlboro’s financial reports and tight
internal controls, the Township has received clean audit reports free of any comments from
three different independent accounting firms for 14 consecutive years. Ms. Russo has directed
financial operations for 12 of those years. I congratulate Lori on another great achievement, and
on her pivotal role in maintaining Marlboro’ s status as one of the premier suburban
communities in the State.“
The NJGFOA was established in 1937 as a professional association of government finance officers
working together to enhance and promote professionalism within the governmental community.