ANSONIA – The city this week hired Fairfield resident Michael Iodice to head its finance department.
Iodice is the comptroller and chief financial officer (CFO). The position is full-time and pays $145,000 per year, according to a 1-year contract from the city.
Mayor Frank Tyszka said Iodice will help the city navigate the tough financial waters it’s in. The city is currently attempting to formulate its first budget since Tyszka took office.
“We have some serious mismanagement of our finances that we’re trying to address. And when you don’t have the money, and you’ve got holes in the budget, it’s pretty difficult. So as I had promised, we are hiring a professional full-time comptroller/(CFO) for the city,” Tyszka said at an April 14 Board of Aldermen meeting.
Iodice will be responsible for managing Ansonia’s budgets and finance department going forward, according to the contract.
Iodice most recently worked as chief of staff at Coordinated Transportation Solutions, a Trumbull-based transportation business, according to his LinkedIn. His listed experience also includes ten years as the CFO of Trinity Church in Greenwich, and four months as director of global financial planning & analysis at media research firm Nielsen Company.
Iodice was selected out of a field of seven candidates, according to past statements by city officials. The hiring team included city chief of staff Nancy Spagnolo, chief operations officer/human resources director Joseph Jaumann, assistant comptroller Kim DeStefano, and Thomas Hamilton, a financial consultant previously hired by the Tyszka administration.
Tyszka had pledged to hire a CFO as part of his mayoral campaign last year, saying that the city needed someone to work full-time to develop its budgets. The city previously hired Kurt Miller as a full-time CFO in 2020, before changing his position to part-time budget director in 2023, a position he still holds.