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Princeton hires Phoenix Advisors as temporary CFO while finance director transition proceeds

Mayor and Council of Princeton, New Jersey · July 28, 2026
AI-Generated Content: All content on this page was generated by AI to highlight key points from the meeting. For complete details and context, we recommend watching the full video. so we can fix them.

Summary

Council authorized a professional services agreement with Phoenix Advisors to provide interim chief financial officer services (not to exceed $180,000) during the municipality's transition following the scheduled retirement of its CFO; staff said state approval was obtained for third‑party coverage.

The council authorized a contract with Phoenix Advisors to serve as the municipality's temporary chief financial officer and director of finance for an amount not to exceed $180,000. Staff explained the town is required to have a CFO and may use third‑party services with state approval when an in‑house CFO is not available; the contract covers interim coverage only until a permanent CFO is appointed.

Municipal staff explained that state approval was received to bring in a third-party provider for CFO functions and that Phoenix Advisors already performs some work for the municipality. "We will only use them as long as we need them until we get a CFO on board," staff said. The council approved the resolution by voice vote.

Provenance: topicintro — SEG 1062 (resolution text), topicfinish — SEG 1100 (approval).

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