The statute (N.J.S.A. 40A:9-140.10 et seq.)
provides for certification of finance officers and establishes the
position, qualifications, and duties of the Chief Financial Officer
for municipal governments. It defines the responsibility of the Chief
Financial Officer and clarifies the requisite experience and educational
requirements. It also prohibits a member of the local governing body
from serving as Chief Financial Officer in the municipality and provides
that tenure for a Chief Financial Officer will occur after four years.
The municipality is not required to adopt a
separate ordinance creating the position of Chief Financial Officer.
However, the municipality must adopt a salary ordinance establishing
a salary for the position.