Kennedy nominates Caron as Lynn CFO

LYNN – Mayor Judith Flanagan Kennedy has nominated city Chief Assessor Peter Caron to the position of Chief Financial Officer.”I have appointed Peter Caron CFO,” Kennedy said via text Friday. “(The Council) will vote on the appointment.”In an interview Friday, the 62-year-old Caron said Kennedy asked him a little more than a week ago if he would accept nomination to the CFO post.As Kennedy’s pick for the financial oversight job, he will retain his current position but receive extra pay equivalent to the sum Richard Fortucci received. Fortucci earned $140,000 in 2012, according to city salary records, serving as city treasurer and CFO. Caron earned $104,000 as chief assessor last year.”She obviously thinks I’m qualified enough to do the job. I have a very good relationship with her. I wouldn’t say I’ve been one of her supporters – my loyalty is with the office,” Caron said.Fortucci will retain his position as treasurer. He said the title stripping translates into a pay drop to $105,000.The 10-year City Hall veteran said the mayor walked into his office at 12:30 p.m. Friday and informed him of her decision. With his term expiring July 1, Fortucci said Kennedy made it clear she was exercising her option as city chief executive to appoint someone she wanted to oversee city financial functions.”I’m a little disappointed. I think we’ve made great strides,” he said.Caron is the city’s chief assessor overseeing property taxation. During his tenure as CFO, Fortucci said he worked to stabilize the city’s self-insured municipal health insurance account, refinanced a significant amount of city debt, and worked with Comptroller Stephen Spencer to develop a strong rapport with bond agency representatives responsible for rating the city’s financial health.”I think we’ve done a decent job,” he said.But Kennedy’s decision to replace Fortucci with Caron, the city’s chief assessor, represents the second time in three years the mayor has ousted Fortucci.In January 2011, Kennedy suspended Fortucci with pay, calling him derelict in his professional duties. At the same time she appointed John Pace, then the city’s comptroller, temporary CFO. Kennedy leveled 16 charges at Fortucci that resulted in a lengthy three-day hearing before the City Council.The council, however, found no grounds for Fortucci’s dismissal and reinstated him to the chief financial officer’s position. Once Fortucci was reinstated Pace automatically went back to his treasurer’s position. Pace was later suspended and subsequently fired for overpaying himself once he returned to the comptroller’s position.Fortucci in an interview Friday did not draw a connection between the 2011 hearings and the mayor’s decision to replace him with Caron.”It’s her choice – I respect that fact,” he said.Caron said he has “31 years in municipal finance,” including former assessing jobs for the cities of Salem and Beverly. He started working in City Hall in 1998.Caron said he and Kennedy discussed specific goals the mayor wants him to meet as CFO, but he declined to elaborate on those objectives Friday.”They’re more long term things,” he said.Thor Jourgensen can be reached at [email protected] Stevens can be reached at [email protected].