FOR IMMEDIATE RELEASE:
July 18, 2005
GOVERNOR, COMPTROLLER, SENATOR BRUNO ANNOUNCE MEMBERS OF ERIE COUNTY FISCAL STABILITYAUTHORITY
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Panel Will Work to Improve County Finances, Ensure Long-Term Fiscal Health
Governor George E. Pataki, State Comptroller Alan G. Hevesi, and Senate Majority Leader Joseph Bruno today announced their appointments to the newly-created Erie County Fiscal Stability Authority -- a panel created by the Governor and Legislature that will work with Erie County to improve its finances and ensure the County's long-term fiscal health.
"These members are all highly-qualified New Yorkers who have distinguished themselves in business, public service and their communities," Governor Pataki said. "By agreeing to be part of the Erie County Fiscal Stability Authority, these members will provide Erie County with immediate financial expertise and oversight and help local leaders address the County's fiscal challenges. I am confident they will perform their work with the utmost professionalism, energy and dedication."
State Comptroller Alan G. Hevesi said, "Erie County is facing a serious fiscal crisis after years of irresponsible fiscal management and needs experienced, courageous leadership to resolve this financial mess. This is why I am nominating Janet Penksa to the Erie County Fiscal Stability Authority. Janet has more than 20 years of budgetary, government and management experience. She has led top-level budget negotiations, has a track record of building consensus among groups with diverse needs, and a reputation for candor and honesty. I have no doubt that she will distinguish herself even further in this new and critical position."
Senate Majority Leader Joseph L. Bruno said, "The Erie County Fiscal Stability Authority will play a critically important role in helping the county address its financial problems. The members of the Authority have the necessary expertise to provide oversight and accountability of county finances, restore taxpayer confidence and get Erie County headed in the right direction."
Senator Dale M. Volker said, "Stanley J. Keysa is a practicing attorney, a former Town Supervisor of Lancaster, and a former Deputy Commissioner for Planning and Economic Development of Erie County. He is someone who I have tremendous respect for and trust. He is a consensus builder and has a firm understanding of government at the local and county level. The facts are clear that Erie County towns and villages will be impacted by the looming county financial crisis and the need for someone to have the in-depth knowledge in the inner workings of local governments will be critically important. I believe that Stanley J. Keysa will be a fine addition to the Erie County Fiscal Stability Authority and profoundly complement the board with his dedication, devotion and commitment to Erie County and its taxpayers."
Under legislation signed into law last week by the Governor that creates the Erie County Fiscal Stability Authority, the Authority will begin its work in an advisory role, similar to the Nassau County Interim Finance Authority (NIFA). The Board will be responsible for reviewing and approving a financial plan submitted by the County, and ensuring the County adheres to a series of objectives outlined in that plan.
If Erie County does not meet those objectives, the Control Board would have the authority to freeze wages, approve all contracts, and put in place other fiscal control powers. The Board is comprised of seven members, four directly appointed by the Governor and the remaining three upon the recommendation of the Senate Majority Leader, the Speaker of the Assembly and the State Comptroller.
The new members of the Erie County Fiscal Stability Authority are:
Ned Regan (Governor Appointee) who will serve as Chairman: A former four-term Comptroller of the State of New York and former President of CUNY's Baruch College. Regan has also served as a trustee of the Financial Accounting Foundation, the board that is responsible for overseeing and selecting the members of the Financial Accounting Standards Board (FASB) and the Governmental Accounting Standards Board (GASB). Regan is an alumnus of Hobart College and earned a law degree from the State University of New York School of Law.
P. David Campbell (Governor Appointee) who will serve as Vice-Chairman: Former President and CEO of Dunlop Tire Corporation, a North American sales and manufacturing company with headquarters in Buffalo. Campbell assumed the President and CEO positions after the company had suffered ten consecutive years of financial losses. He built a new value culture and management team and returned the company to profitability after one year. Campbell played an important role in preparing, negotiating and implementing the sale of Dunlop on a global basis to Goodyear Tire and Rubber, and retired from Dunlop in April 2001 after a 32-year career.
John A. Johnson (Governor Appointee): Commissioner of the New York State Office of Children and Family Services (OCFS). Johnson has served as Executive Director of the Office for University Preparatory Programs at the State University of New York at Buffalo. He has also served as special assistant for the U.S. Department of Housing and Urban Development. He has served on numerous boards of community organizations, including the United Negro College Fund, the United Way of Buffalo and Erie County, Erie County Community College Academy and the NYS Housing Trust Fund Board. In 1998, Governor Pataki appointed Commissioner Johnson as chairman of the Erie County Stadium Corporation, which was established to implement the $95 million Erie County Stadium civic project, a major economic development initiative.
Stanley Keysa (Senate Appointee): A former Erie County planning Board chairman and economic development head who served two decades as supervisor of the Town of Lancaster. Keysa, an attorney, has served as a village judge and is the Cayuga District Chairman of the Greater Niagara Frontier Council.
Janet Penksa (Comptroller Appointee): Associate Vice President for University Services at the University at Buffalo, the State University of New York. Prior to coming to UB, Penksa served as Vice President for the Center for Health Policy Studies in Albany. Penksa has 14 years of experience working with the New York State Assembly, most recently as Secretary to the Ways and Means Committee. She was chief advisor and lead negotiator for Assembly leadership on all fiscal and economic matters, as well as being responsible for final preparation of the state budget.
Carole Stone (Governor Appointee): Former Director of the New York State Division of the Budget. As Budget Director, Stone played a vital role in stabilizing and strengthening New York State's finances following the September 11 terrorist attacks on the World Trade Center in New York City. She also advanced proposals that helped restore fiscal responsibility to State government, reduce the tax burden on businesses and taxpayers, and secure the State's highest credit rating in 24 years. She has won national recognition for her outstanding achievements as a Budget professional, including a number of awards for her fiscal management skills. ###
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