Release #-108-00

CONTACT:	Sunny Mindel/Curt Ritter (212)788-2958 Kevin Ortiz (212) 487-4239 (DCA)	View the Mayor's Press Conference Download

MAYOR GIULIANI NAMES ADAM L. BARSKY
AS DIRECTOR OF THE OFFICE OF MANAGEMENT AND BUDGET

Mayor Rudolph W. Giuliani today announced the appointment of Adam L. Barsky as Director of the New York City Office of Management and Budget (OMB) and the Mayor's Chief Financial Officer. Mr. Barsky will leave his current post as Director of the Mayor's Office of Operations immediately to assume the position at OMB. He succeeds Robert M. Harding, who was appointed Deputy Mayor for Economic Development and Finance earlier this month.

"As Director of Operations, Adam worked closely with all City agencies and oversaw their daily operations to ensure that they provided the quality services expected by all New Yorkers," said Mayor Giuliani. "In this capacity Adam was responsible for publishing the Mayor's Management Report twice a year, and also served as Executive Director of the Mayor's Tax Reform Task Force. He has helped develop methods to improve City services and make certain that each agency operates efficiently and remained accountable for its operations.

"Adam's appointment today as Budget Director is a natural progression. His dedication, experience and first-hand knowledge of the City's agencies will help to ensure that New York City continues to remain fiscally sound in the years to come," the Mayor concluded.

"I would like to thank the Mayor for placing his confidence in me with this appointment," said Mr. Barsky. "I look forward to the challenges of this new position and to furthering the success of the Giuliani Administration."

As Director of OMB, Mr. Barsky will be responsible for the development of the Mayor's Preliminary and Executive Budgets. He will also advise the Mayor on all policy issues affecting the City's fiscal stability and the effectiveness of City services.

Mr. Barsky has served as Director of the Mayor's Office of Operations since June 1998. He also serves as a member of the City's Technology Steering Committee, the Mayor's New Media Task Force, and as the Mayor's representative to the Governor's Task Force on Pensions. As Director of Operations he was responsible for all aspects of the Office, which oversees the daily operations of all City agencies by providing them with technical assistance and consulting services, and by coordinating the streamlining and restructuring of City Government. In addition, the Office assists City agencies in developing methods to enhance service quality to ensure efficient agency management and accountability.

Prior to this, Mr. Barsky served as First Deputy Commissioner for the New York City Department of Finance from March 1995 to June 1998. He also served as Acting Commissioner from July 14, 1997 to January 5, 1998. In addition to being responsible for all day-to-day operations of the Department, Mr. Barsky was in charge of the development and implementation of the City's tax policy, including the creation and development of New York City's first tax lien securitization program, which was awarded "Deal of the Year" by Governing Magazine.

In July 1997 he was appointed Chairman of the New York City Employees Retirement System (NYCERS) and, more recently, to the Teachers' Retirement System (TRS) in March 1999. Mr. Barsky has played a leading role in providing strategic direction to the Board of Trustees on many important issues, including long term planning, asset allocation and proxy issues, as well as many others. NYCERS manages approximately $40 billion in plan assets and has consistently been among the top performing publicly-managed pension funds during Mr. Barskys' tenure.

Before joining the New York City Department of Finance in March 1995, Mr. Barsky was Chief Financial Officer at the New York City Economic Development Corporation, where he oversaw the audit of the City's lease with the NY/NJ Port Authority concerning its operation of the City's airports. This audit later determined that the Port Authority owed the City hundreds of millions of dollars in back rent.

Mr. Barsky first joined the Giuliani Administration in 1994 as an Assistant Director in the Office of Management and Budget. He also served in executive capacities in the private sector with Kidder, Peabody & Company and Arthur Andersen & Company.

Mr. Barsky is a graduate of the State University of New York at Albany, where he received a Bachelor of Science degree in Accounting, and he currently serves as a member of the Board of Directors of the Alumni Association. He is also a Certified Public Accountant.

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