$38,500 Per Month for Interim CFO — But Where’s the Disclosure and Oversight?

Though First Selectman Toni Boucher stands by her actions and the process she has practiced, questions remain about whether her administration — through established procedures or in the public’s perception — has appropriately handled payments to the interim chief financial officer, with more than $115,000 already approved by Boucher from September through November without providing details or timely notice to the Board of Selectmen.

On Aug. 27 the BOS approved hiring Joseph Centofanti, a consultant with the firm PKF O’Connor Davies, to be the interim CFO. The only cost information provided was that Centofanti’s rate would be between $325 and $375 and that he would work a minimum of eight hours per week, though he might need or want to do more.

Through October, however, BOS members were left in the dark regarding Centofanti’s cost and exactly what his work entailed with regard to hours and supplemental per diem staff. Boucher said that as the town’s CEO and chief administrator she was empowered to sign his invoices, but also stated, incorrectly, that a contract approved in August outlined hourly rates for any staff.

Likewise, Boucher told GOOD Morning Wilton last week, “The contract and salary of the new CFO was approved in a public BOS meeting,” but neither the contract nor salary has been made available to the public.

In December, GOOD Morning Wilton asked for and received copies from Boucher of three of Centofanti’s invoices for September, October and November of 2025.

Discussion in the Details

What the invoices ultimately showed — and when — contrasts sharply with what the Board of Selectmen was told to expect.

September: The first invoice provided by PKF O’Connor Davies on Sept. 30, 2025, was for $17,718.75. The only description on the invoice said “47.25 hours-Interim CFO Services,” with no additional detail.

September Invoice+

October: A second invoice dated Oct. 31, 2025, provides more detail, revealing for the first time that Centofanti’s rate was $375 per hour — a fact that was not forthcoming to BOS members, though several inquiries were made. The invoice totals $50,066.00, and includes $45,750 that went to Centofanti for, respectively, 60 hours of CFO services and 62 hours of general ledger reconciliation services, making a total of 122 hours.

The invoice also includes 31 hours for a manager for general ledger reconciliation services at $255 per hour, totaling $7,905.00, and 1.5 hours for “staff assistance” at $120 per hour, totaling $180.00.

Initially subtotaling $53,835, for unknown reasons the invoice shows PKF O’Connor Davies applied a 7% “Discount” to it, for a total billed of $50,066 for October.

October Invoice+

November: A third invoice dated Nov. 30, 2025 totaling $47,715.00 provides similar details, with Centofanti logging a total of 113.75 hours for CFO services (36.5), general ledger reconciliation services (68), and audit prep (9.25) for a total of $42,656.25. There are also 34.75 hours billed for a manager at $255 for general ledger reconciliation services and audit prep totaling $8,478.75, as well as $180.00 billed for 1.5 hours of staff assistance.

This bill includes a similar 7% discount of $3,600, bringing November’s total down from $51,315 to $47,715.

November Invoice+

December: Boucher told GMW that as of Thursday, Jan. 8, 2026, the Town has not yet received an invoice for December.

History and Mystery

At the Aug. 27 BOS meeting, then-Second Selectman Josh Cole emphasized that the BOS needed to be mindful of the cost for the interim CFO, noting that “fees can add up rather quickly” for a consultant.

While Boucher said the selectmen would have a discussion about it at the Sept. 16 BOS meeting — and that she would provide them with a report on what the consultant’s findings were and cost expectations — she instead told the BOS at that meeting, “We’re not going to be pursuing this tonight.”

In an attempt to instill confidence, Boucher went on to say that Centofanti was currently simultaneously working with 15 other towns and that, while he would only be in Wilton one day a week, he would be in regular touch with staff by phone and email. She also said he would make an appearance at the following BOS meeting on Oct. 6.

Despite this reportedly large client load, it’s worth noting that Centofanti billed a total of 122 hours for the month of October (5.5 hours per business day on average) and 113.75 hours for the month of November (6 hours per business day on average).

Centofanti was not in attendance at the Oct. 6 BOS meeting, nor did Boucher share any costs with the selectmen.

At that Oct. 6 meeting, new Selectman Rich McCarty for a second time specifically requested details on exactly what Centofanti was costing the town; he would continue to press for more transparency throughout the fall. Then-Selectwoman Kim Healy also asked for specifics on Centofanti’s recommendation for additional temporary finance staff.

At that meeting Boucher told the BOS members that she would get back to them at their next meeting on Oct. 21, with cost specifics on Centofanti, as well as a report from him that included “hours and tasks at hand.”

However, Boucher provided neither at the Oct. 21 meeting, though she reported that she had requested Centofanti attend the following BOS meeting on Nov. 3.

He did appear at that Nov. 3 meeting via Zoom, and it was the first time BOS members heard what PKF O’Connor Davies billed for September. Details on any breakdown by firm employees, hours worked or billing rates were light. When Healy suggested that the BOS should approve the use of additional PKF personnel other than Centofanti, Boucher deflected the question.

“I just want to remind the board that you did all approve the hiring of this firm and the cost involved with hiring them to get the job done,” Boucher said, though there were no specific costs approved and the board was told that numbers would be provided after Centofanti began his work.

“We’ll give you a report on cost at this point and some anticipated cost, but again, that’s unknown at this time,” Boucher said, implying more would be shared at the next BOS meeting on Nov. 17.

But on Nov. 17, even though an update from Centofanti was listed as an agenda item and his presence in person had been promised, BOS members were surprised to learn that the interim CFO would not be on hand that night to brief the board. They received little new info from Boucher, who once again promised they’d have Centofanti in person “…at the next meeting.”

By Dec. 3, with Healy moving to the Board of Finance, new Selectman David Tatkow joining the BOS, and Cole having stepped down, Centofanti again was not on the agenda. Tatkow and McCarty pressed again on unfulfilled promises, but Boucher mollified her board by announcing that Centofanti was preparing to present to the Board of Finance on Tuesday, Dec. 9, and that they could hear from him then.

Centofanti did update the BOF in person on Dec. 9, but he provided more specifics on the work he’d been doing rather than detail the charges his firm had billed the town. He confirmed that he’d used additional staff and revealed for the first time his own hourly billing rate of $375 as well as that of his manager ($255) and other staff ($120). While he noted that November’s invoice reflected 350 collective hours and a 7% discount, he didn’t share a total figure nor was he asked for it.

Looking for Answers

While GOOD Morning Wilton reached out to the four other members of the BOS and to each member of the BOF for thoughts on this situation, responses were limited and varied. Questions about the matter included why costs this high were not shared publicly, whether they should have been approved by the BOS as a whole rather than just Boucher, and what the cost and contract are for the new permanent CFO Dawn Savo, who was hired last month.

“These are good questions,” BOF Vice Chair Rudy Escalante said regarding the matter.

“Some are BOS questions,” he said. “I will raise the ones that are appropriate for the BOF at our next meeting.” The BOF is next scheduled to meet on Tuesday, Jan. 13.

While BOF Member Eric Fanwick said there was not much he could add, as he was just getting his feet wet on this new board, BOF Member Prasad Iyer referred questions to BOF Chair Timothy Birch.

“The BOF was not involved in the negotiation or approval of the contract for the interim CFO’s firm,” Birch said, noting that questions were better sent to the BOS. “We have not reviewed the invoices or been asked to review them.”

Second Selectman Ross Tartell responded by forwarding the questions to Boucher.

“I have referred those questions to the first selectman so she can provide you with answers,” he said.

Likewise, Tatkow said it was his understanding that Boucher would be responding to these questions from GOOD Morning Wilton.

McCarty, however, shared some thoughts while also forwarding the questions to Boucher.

“As you know, I have been asking that the BOS receive regular updates regarding the condition of the Finance Department and the work of the interim chief financial officer since the earliest days of the firm’s retention,” McCarty said, “including just this week where I asked that there be a CFO report at all BOS meetings until such time as the BOS determines that they are no longer required.”

McCarty added that, thus far, he is encouraged by CFO Savo’s performance.

No responses were received from former BOF Chair/new Selectman Matt Raimondi (who was appointed to the BOS on Dec. 17), nor from new BOF Member Kari Roberts.

Healy, now newly seated on the BOF, replied to GMW’s questions with a qualification — that her response was given solely as a former BOS member that was serving when the contract approval was made, and not in her new BOF role.

“As expressed during the initial discussion, it was my and the other BOS members’ expectation that the consulting hours required would exceed the minimum guarantee of eight in-person hours,” she said, “but we didn’t know by how much.”

“Josh Cole stated at the time of the motion to authorize the engagement that Joe was expected to attend the second BOS meeting in September to provide an estimate for the number of hours and the cost,” Healy said. “Toni agreed.”

“Toni and Joe never provided the promised estimate even when asked directly at our subsequent meetings,” she noted. “In retrospect, the BOS should have placed a dollar limit or time limit on the engagement, which would have forced Toni to provide us with an estimate and an explanation of how the amount was to be funded.”

Boucher said that the costs for Centofanti’s invoices are covered as part of the FY 2026 budget, which she said includes funds for a CFO and also prior approval for a consultant to help with the Town’s ongoing financial software conversion.

Healy noted that — while Boucher was authorized to expend consulting fees to the extent they were within the Fiscal Year 2026 Finance Department budget — at the Dec. 16 BOS meeting Raimondi recommended that the BOS receive a FY ’26 forecast for the Finance Department, giving the BOS a chance to decide how it wants to proceed if additional funding is needed.

“As a former BOS member and a current BOF member,” Healy said, “I’m anxious to learn the results of Matt’s recommendation and to receive monthly financial reports which include each department’s forecasts.”