NJ Muni Solutions LLC was founded in 2024 as a municipal focused consulting firm to serve an unmet need in the world of New Jersey Municipal Finance. New Jersey is the only state that operates under a unique regulatory framework governing municipal and county budgeting and financial reporting. This regulatory framework requires specific licensing and experience for New Jersey municipal chief financial officers.
Due to the specific requirements of New Jersey law, it has proven difficult to develop municipal finance officers in the State. Courses specific to New Jersey finance are not taught in undergraduate accounting and finance programs. As a result, there is an existing and growing shortage of qualified, licensed municipal finance officers. These licenses are issued to individuals only after passing a rather rigorous program offered through the Rutgers University Center for Government Studies.
In order to hold a permanent appointment as chief financial officer (CFO) in a New Jersey municipality, the CFO must be licensed as a Certified Municipal Finance Officer (CMFO). Similarly, for a county the CFO must be a licensed Certified County Finance Officer (CCFO).
NJ Muni Solutions LLC was founded by Joseph F. Kelly, CPA, RMA, PSA, CCFO, CMFO to bring his decades of experience to support New Jersey’s counties, municipalities and authorities in meeting their financial and regulatory obligations.
Mr. Kelly began his career as an auditor serving New Jersey counties, municipalities, authorities and school districts. He ultimately became a partner in a public accounting firm that specialized in audits and consulting services for New Jersey local governments. Throughout his career in public accounting, Kelly served dozens of governmental units of varying sizes, developing a thorough understanding of the challenging landscape that is the New Jersey regulatory model.
Following his career in public accounting, Mr. Kelly was recruited to restore fiscal oversight of the Passaic Valley Sewerage Commission (“PVSC”) after a management shakeup by the New Jersey Governor. Mr. Kelly served as Chief Financial Officer of PVSC during its most challenging period- first through the restoration of good governance and financial controls, followed shortly thereafter by the devastation of Hurricane Sandy, which caused over $1 billion in damage to the plant infrastructure. Kelly guided the executive team in rebuilding the plant while maintaining an average 1% increase in municipal sewer user charges over the course of a decade.
Mr. Kelly most recently served as Chief Financial Officer of the County of Monmouth, overseeing financial reporting, budget development, capital project financing and information technology implementations. With over 3,500 employees and responsible for over $1 billion in annual overall spending, Mr. Kelly maintained the County’s AAA/Aaa bond ratings with Moody’s Investors Service, Standard & Poors and Fitch rating agencies. Monmouth County is the only county in New Jersey that is Triple-A rated by these three major rating agencies.
Mr. Kelly is licensed in New Jersey as follows:
Certified Public Accountant (CPA)
Registered Municipal Accountant (RMA)
Public School Accountant (PSA)
Certified County Finance Officer (CCFO)
Certified Municipal Finance Officer (CMFO)
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