Delaware River and Bay Authority Names Assistant Director of Finance
Joseph M. Nadel to Develop and Administer Operating Budgets, Audits and Financial Reports
(New Castle, DE) Today, Delaware River and Bay Authority officials announced the selection of Joseph M. Nadel of Magnolia, Delaware, to serve as the agency’s new Assistant Director of Finance. Mr. Nadel, who officially began his duties on August 5, 2013, reports to Joe Larotonda, Director of Finance.
“I appreciate and value the Authority’s faith and confidence in my abilities to lead and manage the agency’s financial reporting and audit functions,” said Joseph M. Nadel. “As a certified public accountant, I welcome the opportunity to use the myriad of skills and knowledge that I’ve gained in the private sector to enhance the Authority’s financial reporting and analytical capabilities. It’s a tremendous opportunity and I’m excited to get started.”
As the Assistant Director of Finance, Mr. Nadel is responsible for managing the accounting, financial reporting and budgeting functions of the Authority. In this role, he is responsible to plan, develop and administer the Authority’s annual operating budget; prepare, direct and review the preparation of monthly and annual financial statements, including the Comprehensive Annual Financial Report (CAFR); prepare and update Authority financial policies and procedures and internal controls to guide financial decisions and protect assets; and direct the audit functions and procedures to assure consistent and proper fiscal controls over Authority assets.
“Joe is a well-respected management professional and an expert in his field,” remarked Joe Larotonda, Director of Finance. “I am pleased he accepted the opportunity to lend his talents, leadership abilities and problem solving skills to our financial team. He’s a proven, successful leader with strong analytical and interpersonal skills. Our budgetary process will begin in a few weeks and it’ll provide a good opportunity for him to hit the ground running. We’re very fortunate to have him join our team.”
Hired as the Director of Corporate Accounting by Allen Family Foods in June 2005, Mr. Nadel oversaw the accounting operations of three business segments, a position he held for more than six years. In this capacity, he was responsible for the businesses’ accounting operations – including supervising accounting staff, managing cash flow, developing revenue and expense statements, and providing financial analysis. For the last two years, Mr. Nadel served as the Corporate Controller for Hertrich Family of Auto Dealerships. In July 1997, Joe began his career as a staff accountant at Faw, Casson & Company, a Dover-based consulting, auditing and accounting firm.
A certified public accountant, Nadel earned a Bachelor of Science degree in accounting from Wesley College in Dover, Delaware. He is a member of the American Institute of Certified Public Accountants and the Delaware Society of Certified Public Accountants.
About the Delaware River and Bay Authority
The DRBA, a bi-state governmental agency created by Compact in 1962, owns and operates the Delaware Memorial Bridge, the Cape May- Lewes Ferry, and the Delaware City – Salem Ferry Crossing. The DRBA also manages corporate and aviation properties through its economic development powers - two airports in New Jersey (Millville Airport and Cape May Airport) and three in Delaware (New Castle Airport, Civil Air Terminal and Delaware Airpark). All DRBA operating revenues are generated through the bridge, ferry and airport facilities. For more information, visit www.drba.net.
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