Marblehead Finance Committee got a pair of new members on Wednesday night, filling the remaining vacancies on the nine-member committee.
Marblehead Select Board appointed Michael Janko to a three-year term expiring in 2025 and Eric Knight to a year-long term expiring in 2023. Both said they’ve recently acquired more time to devote to public service and decided to go for the Finance Committee seats.
“I’ve actually had a long standing interest in a [Finance Committee],” Janko said. “I believe I can be a contributor to the ongoing efforts to keep Marblehead fiscally sound.”
Janko and his family have lived in Marblehead for 24 years. He characterized himself as a “seasoned investment professional with experience across finance disciplines.”
“I am responsible for developing and executing on portfolio strategy, security selection(debt, equity, alternatives) and articulating market/macro outlook,” Janko told the Select Board. “In this role, I have worked directly with other Massachusetts municipalities in managing reserve and a range of purpose-dedicated funds.”
He added, “My experience also includes responsibility for managing a team of 15 professionals across investment, operations and trading platforms.”
Knight recently entered retirement after a 26 year career in the Massachusetts Office of the Inspector General.
“My professional career was largely spent working in the public sector of watch-dog agencies that ensure public entities deliver services to the citizens of the commonwealth in the most efficient and cost-effective manner,” Knight told the Select Board. “My background, training and education, including a master’s of business administration and having served as treasurer for three nonprofit entities would serve me well if I am appointed to serve on such an essential board.”
He added, “Now that I have retired, I would welcome the opportunity to make a meaningful contribution to the town.”
While the Finance Committee functions in an advisory capacity for all of Marblehead finan, it has neither regulatory functions nor power of the purse. The Finance Committee, however, holds serious influence over financial matters.
“The committee reviews the budgets of all town departments and holds a public hearing on Marblehead Town Meeting warrant articles calling for the expenditure of town funds,” reads the town’s website. “The Finance Committee’s recommendations in favor, in opposition, to table or to indefinitely postpone these articles are included in the Report of the Finance Committee that is delivered to each home prior to Town Meeting.”