Title
Dept/ Agency: Office of the Mayor
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Appointment
Purpose: Chief Financial Officer
Name of Appointee(s): Vincent Buono
Appointment Term: January 1, 2026 through December 31, 2029
Additional Information:
The position of Chief Financial Officer of the City of Newark is for an effective date of January 1, 2026 through December 31, 2029.
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WHEREAS, N.J.S.A. 40A:9-140.10 requires the governing body of every municipality in the State of New Jersey to appoint a Chief Financial Officer (“CFO”) for a four (4) year term commencing as of January 1 in the year in which the said CFO is appointed; and
WHEREAS, the City of Newark’s (“City’s”) prior CFO, Danielle Smith, retired effective January 2025; and
WHEREAS, since said retirement, Benjamin Guzman has been serving as Interim CFO; and
WHEREAS, the Mayor of the City of Newark recommends the appointment of Vincent Buono, effective November 4, 2026, as permanent CFO for a four-year term pursuant to N.J.S.A. 40A:9-140.10; and
WHEREAS, Vincent Buono possesses the required municipal finance officer certificate pursuant to N.J.S.A. 40A:9-140.1 et seq.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, STATE OF NEW JERSEY, THAT:
1. Vincent Buono is hereby appointed Chief Financial Officer (“CFO”) of the City of Newark (“City”), effective November 4, 2026 (“appointment date”); Pursuant to N.J.S.A. 40A:9-140.10, this appointment shall be for a four-year term, commencing as of January 1, 2026 and ending December 31, 2029. The CFO shall be compensated in accordance with the City's Salary Ordinance.
2. The interim appointment of Benjamin Guzman as CFO is terminated as of November 3, 2026 (“termination date”). This action pertains solely to his designation as Interim CFO and does not affect his underlying employment with the City.
3. The Newark Municipal Council hereby ratifies its authorization of the termination of the appointment of the interim CFO and the appointment of the CFO from the termination date and the appointment date through the date of adoption of this authorizing Resolution.
4. The City Clerk is hereby directed to forward a copy of this Resolution to Vincent Buono, Benjamin Guzman, and Eric Pennington, Business Administrator.
STATEMENT
This Resolution ratifies and authorizes the appointment of Vincent Buono as Chief Financial Officer of the City of Newark, effective November 4, 2026, for a term expiring December 31, 2029, and ratifies the termination of the appointment of the interim Chief Financial Officer, Benjamin Guzman effective November 3, 2026.