NJIT appoints state deputy treasurer as CFO

New Jersey Deputy Treasurer Catherine Brennan will become senior vice president and CFO for NJIT Sept. 20, 2021. – NJIT

The current deputy treasurer for the State of New Jersey, Catherine Brennan, has been named New Jersey Institute of Technology’s senior vice president/chief financial officer, the school announced Aug. 26.

Brennan will leave the Treasury on Sept. 17 and begin her NJIT tenure on Sept. 20, where she is charged with maintaining responsibility for the university’s financial management and accountability. She will lead the Offices of General Accounting, University Budgeting, Payroll, Procurement Services, Accounts Payable, Financial Systems and Innovation, Risk Management, Treasury and Bursar.

With extensive experience in public finance and budgeting, Brennan, who became New Jersey’s deputy treasurer in 2018, oversees the Office of Management and Budget, and Office of Revenue and Economic Analysis within the New Jersey Department of the Treasury and leads the team of professionals responsible for developing the state’s annual $44.8 billion budget, including all appropriations and revenue initiatives.

She has overseen Treasury’s responsibilities related to management of federal COVID-19 funding (from the Coronavirus Aid, Relief, and Economic Security Act and American Rescue Plan) and serves as a board member for the New Jersey Economic Development Authority (Treasurer’s designee), the New Jersey Capital Budget and Planning Commission and the State House Commission, among other responsibilities.

Since 1994 Brennan has served in roles of increasing responsibility within the Office of Legislative Services, which provides non-partisan staff support to the New Jersey State Legislature, and was responsible for the Legislature’s independent revenue projections as section chief of revenue, finance and appropriations.

“Since the beginning of our Administration, Cathy Brennan has served as a valued member of our team at the Department of Treasury and played a critical role in our annual budget process,” said Gov. Phil Murphy in a prepared statement. “While we will miss her here in Trenton, we wish her all the best in her new role as chief financial officer at New Jersey Institute of Technology. President Bloom has made a fantastic selection and I’m confident Cathy will help lead NJIT to continued success.”

“We are extremely pleased to be able to attract a candidate of Cathy’s talent and experience to NJIT,” NJIT President Joel Bloom said of Brennan’s appointment. “She brings a unique understanding of state finance and public-sector funding (both state and federal), and has earned the respect of industry leaders as well as legislators and government leaders from both sides of the aisle throughout her career.”