Print Page   |   Sign In   |   Register
News & Press: Recent News

Longtime Director of State Budget Office Stepping Down After 16 Years in Post

Friday, June 19, 2015   (0 Comments)
Share | 06/18/15

For the first time in nearly two decades, someone other than Charlene Holzbaur will soon be running the state office that’s in charge of formulating the annual budget. Holzbaur, a state employee for the last 36 years and a fixture at legislative hearings and budget briefings, is planning to step down as director of the Department of Treasury’s Office of Management and Budget on June 30 when the state closes out its fiscal year. She’s been Treasury’s budget director for the last 16 years, serving under six different governors from both political parties, a rarity for the high-level position. Treasury records indicate Holzbaur is the state’s longest-serving budget director, going all the way back to 1865. And the last time a budget director served under multiple governors from different political parties was between 1941 and 1948, when state spending was just a small fraction of the current budget of nearly $33 billion.

Holzbaur’s departure comes after a recent string of difficult fiscal years, including the 2014 fiscal year, which saw the state struggle with a more than $1 billion budget shortfall in the final weeks left before the June 30 deadline. But this fiscal year, state tax collections are on track to surpass revenue projections by roughly $200 million. Under Holzbaur’s direction, the state budget has received annual awards from the Government Finance Officers Association of the U.S. and Canada. The organization has also awarded the state a certificate of achievement for excellence in financial reporting for the Comprehensive Annual Financial Report. And last May, Holzbaur was recognized with the 2014 distinguished leadership award from the Trenton chapter of the Association of Government Accountants.

Sidamon-Eristoff, who was appointed treasurer by Gov. Chris Christie in 2010, credited Holzbaur with improving the office’s work, which governors and other top officials have come to rely on. “The New Jersey Budget has grown in size, scope and complexity, making the Budget Director’s position one of the toughest jobs in State government,” Sidamon-Eristoff said. “Her longevity is a reflection of her competence, professionalism, credibility, and impartiality, which have enhanced OMB’s role as an indispensable organization for financial expertise and leadership.”

Sign In

Latest News