Brennan, N.J.’s deputy treasurer, named new CFO at NJIT

Catherine Brennan, the deputy treasurer for the state of New Jersey, has been selected to be the chief financial officer for New Jersey Institute of Technology, the school announced Thursday.

Brennan will assume the position, which also contains a senior vice president title, on Sept. 20.

Brennan will maintain responsibility for the university’s financial management and accountability, and will lead the offices of General Accounting, University Budgeting, Payroll, Procurement Services, Accounts Payable, Financial Systems and Innovation, Risk Management, Treasury and Bursar.

Brennan brings extensive experience in public finance and budgeting to NJIT. In overseeing the Office of Management and Budget and Office of Revenue and Economic Analysis within the New Jersey Department of the Treasury, Brennan leads the team of professionals responsible for developing the state’s annual $44.8 billion budget, including all appropriations and revenue initiatives.

Brennan also oversees Treasury’s responsibilities related to management of federal COVID-19 funding and serves as a board member for the New Jersey Economic Development Authority, the Capital Budget and Planning Commission and the State House Commission, among other responsibilities.

NJIT President Joel Bloom was thrilled to add Brennan to the school’s leadership.

“We are extremely pleased to be able to attract a candidate of Cathy’s talent and experience to NJIT,” he said. “She brings a unique understanding of state finance and public-sector funding (both state and federal) and has earned the respect of industry leaders as well as legislators and government leaders from both sides of the aisle throughout her career.”

Brennan said she was eager to get started.

“I understand the high value return a polytechnic research education offers, and I know that education is pivotal — even indispensable — to our economy,” she said. “I am extremely enthusiastic to join NJIT’s leadership team and play an important role on behalf of one of the nation’s premier public polytechnic universities.”

Brennan, who became deputy treasurer in 2018, has been involved in state government since 1994 in roles of increasing responsibility within the Office of Legislative Services, which provides nonpartisan staff support to the New Jersey Legislature, and was responsible for the Legislature’s independent revenue projections as section chief of revenue, finance and appropriations.

State Treasurer Elizabeth Maher Muoio praised Brennan.

“The state of New Jersey has been well served by Cathy Brennan during her 27 years of public service, and I have greatly appreciated her partnership here in Treasury over the past several years,” she said. “She has played an integral role in the development and implementation of our state budget, and her commitment and work ethic are second to none. I wish her the very best in her new role.”