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Dec. 29—Director of Finance Tim Russo has given two-weeks notice of resignation and will be leaving his post on Jan. 4.
Russo, who began running in the city as a volunteer chair of the city’s audit committee, was appointed to the CFO position in April 2020 through Mayor Michelle Roman.
In his resignation letter, Russo said the “at-will” clause of his task was not secure enough. In a follow-up interview, he said his family circle was developing and a more solid task was needed.
Russo is a local of Tonawanda and is a graduate of Buffalo State College. He worked as a budget analyst for the Maryland State Department of Budget and Management before joining Lockport. Early in his tenure, he said his goals were for the city’s profits to match its spending. , as well as monitoring the effects of Covid on the city’s finances.
“Although I had the opportunity to continue my career in the city with the new Mayor Lombardi (which I appreciate), this new role will give me more opportunities for career progression and growth,” Russo wrote in his letter.
Roman said he was “sad for the city. “
“He’s one of the main reasons we’re in a monetary situation like this,” he said.
Russo said he has set up all the vital moves and corresponding documents for the next director for the new year. These resources come with a “calendar for fiscal year 2024 and for the monetary cycle,” as well as neat folders filled with memos, committee documents, and how-to guides.
Russo also wrote down improvements made during his time.
These include:
—Month-end money reports.
— Documented budgets with supporting information.
—Multi-year financial forecasting to show the “impact” of current policies.
Russo also wrote, “The workers in my particular branch have proven to be some of the kindest, most welcoming, and most effective I have ever worked with and I would have lasted approximately 4 years in this position without them.
Roman, who will also step down as mayor after his failed re-election campaign, said he appreciates all that Russo has done and hopes he will continue to volunteer to intervene in the city’s problems.