Committee to Vote on Increasing CFO Salary

The Township Committee is scheduled to hold a public hearing and vote Tuesday on an ordinance setting the 2012 salary for a new Chief Financial Officer.

The proposed $98,500 salary is an approximately 16 percent increase from the top of . The position never was filled at the range of $65,000 to $85,000 set in August 2010.

The committee meeting is scheduled for 8 p.m. in the .

Katie Yanke was appointed as the new CFO at the Nov. 22 meeting.

When the committee set the current CFO salary range along with the ranges for some other open positions in August 2010, officials said the ranges were low and one resident worried about how the lower ranges would affect turnover. But officials also said the reduced ranges were a way to save money and take advantage of a down job market.

"Each of these salary ranges is significantly lower than the salaries of the people retiring from these positions," Mayor Jim Sandham said at the time. "I feel we have taken significant steps in the financial arena to move this town forward and curb spending efforts."

The CFO position has been vacant and the duties have been performed by director of finance Robert Lowenfish, who was hired on a temporary basis. Fran Vanderhoof, the previous CFO, has been serving part-time as the town's certified municipal finance officer until the position was filled because she has necessary certifications.