Outstanding CPA in Government 2011 Award Winner- Local Level: John McCormac, CPA 


    Mayor John E. McCormac, CPA, has a long and distinguished career as a Certified Public Accountant, elected Mayor of Woodbridge Township, Middlesex County, New Jersey, and as Treasurer for the State of New Jersey.
     
    Mayor McCormac began his professional financial services career as a CPA after earning a BA in Accounting from Rutgers University and a Masters of Business Administration in Finance from St. John’s University.  In 1980, Mayor McCormac joined Arthur Young & Company (now Ernest & Young), a large international CPA firm representing Fortune 500 companies, municipal governments, small business, and individual clients. As Manager of Governmental Auditing and Consulting, Mayor McCormac developed specialization in budgeting, tax rate forecasting, computer system design and installation, internal control system design and evaluation, and debt issuances/audits of school districts, municipalities, and counties.

    In 1988, Mayor McCormac founded McCormac & Company, a Woodbridge Township-based CPA firm specializing in accounting and tax services for retailers, contractors, professional firms and individual clients, with professional emphasis in governmental budget consulting for school districts and municipalities.  Mayor McCormac sold the successful CPA firm in 2002. 

    Mayor McCormac’s CPA, financial accounting, and business acumen and experience transferred to local government in 1992 when he was appointed Chief Financial Officer in the Financial Department of Woodbridge Township municipal government.  As CFO, Mayor McCormac maintained oversight of $200 million in receipts and disbursements and an $80 million Township budget.  In 2001, Mayor McCormac took the reins as the Woodbridge Township Business Administrator, responsible for managing the day-to-day functions of town government, supervising over 800 municipal employees, and bringing stability to town finances and budget.    

    In 2002, Mayor McCormac was appointed New Jersey State Treasurer.  As Treasurer, Mayor McCormac provided financial expertise to New Jersey Governor Jim McGreevey and Acting Governor Richard Codey while managing New Jersey’s $28 billion annual budget and 12 operating divisions with 3,500 employees, including Taxation, Revenue, Lottery, Purchasing, Property Management, Insurance, Public Finance, Investments, and Pensions. Treasurer McCormac served on 74 boards, maintained oversight of New Jersey’s economic development efforts geared to attract and retain New Jersey-based companies and incent thousands of jobs, reform of the state corporate tax structure, diversification of a $72 billion pension portfolio, and responsibility for multiple bond financings, including $3.5 billion in tobacco securitization bonds and $2.2 billion in Turnpike/Parkway consolidation bonds.    

    Mayor McCormac continued public service upon election as Mayor of Woodbridge Township in 2006 to an unexpired term and reelection in 2007 to a full four-year term. Mayor McCormac has prioritized “Quality-of-Life” for the nearly 100,000 residents in ten distinct sections of the Township by establishing a vision for Woodbridge and leading a team to enact that vision. Major issues within the Township are economic and business development, affordable housing, and management of $300 million of activity.  Mayor McCormac led the effort to bring redevelopment to many areas of the Township and has worked with the Woodbridge Board of Education, the County of Middlesex, and the State of New Jersey to implement more than 40 shared service or inter-local agreement programs which maximize public resources, saving tax resources.  Mayor McCormac has developed and implemented numerous projects to improve Township infrastructure, Open Space acquisition, educational opportunities, and has advanced initiatives important to the environment, the arts, health & wellness, the animal rights community, and historical advocates.  Most recently, Mayor McCormac was tapped to serve as a financial advisor and member of Governor Chris Christie’s Transition Team in 2010.        

    Mayor McCormac, a life-long resident of Woodbridge Township, met his wife Tammy, an accountant for Bristol Myers, while they were both students at Rutgers University. They wed in 1983 and reside in the Colonia section of Woodbridge Township.  Mayor McCormac’s daughter Erin is entering her senior year at Duquesne University where she is majoring in Accounting. After interning this summer with Ernst and Young in Pittsburgh, Erin has been offered and accepted a full-time position with the firm upon graduation in 2012.  

    Mayor McCormac maintains licensure as a Certified Public Accountant, Certified Government Financial Manager, Certified Municipal Finance Officer, Registered Municipal Accountant, and Licensed Public School Accountant.

     




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