Gloucester CFO Accepts Natick Finance Position

Gloucester Chief Financial Officer Jeff Towne has accepted an offer to become Natick’s deputy town administrator for finance, Gloucester Mayor Carolyn Kirk announced.

Kirk credited the city's financial success to Towne's overall body of work.

"Any success my Administration has is a direct result of the talent and professionalism of our team," she said. "and Jeff has been an outstanding contributor."

Among Towne's highlights over the past five years are:

• Substantial free cash deficits have been reversed and the city now produces positive free cash within established standards;
• Water and sewer collections along with tax title was backlogged by many years, and now the city is in timely cycles of collection;
• Towne has also overseen the financing of tens of millions of dollars in infrastructure debt and has worked aggressively to take advantage of every state financing program and opportunity in order to gain the most favorable terms for the citizens of Gloucester.

Current Natick Deputy Town Administrator/Finance Director Michael Walters Young announced earlier this year he is moving out of state but plans to stay with the town until mid-January.

DPW Director Bill Chenard will become Natick's deputy town administrator for operations, effective Dec. 16.

Natick Town Administrator Martha White said Towne is expected to start on Jan. 6.

"Jeff has extensive experience in municipal finance and is highly regarded as a leader with innovative ideas and the drive to enhance a municipality’s financial operations," White said in a statement.