After 10 years at the Citizens Budget Commission, President Carol Kellermann will be stepping down by the end of the year, the New York budget watchdog announced on Monday.

"New leadership leads to fresh thinking, and I have no doubt CBC will continue to thrive under its next president," Kellermann said. "I look forward to assisting the search committee and assuring a smooth transition."

Citizens Budget Commission President Carol Kellermann
Citizens Budget Commission President Carol Kellermann

Kellermann graduated from Harvard College and Harvard Law School and came to the CBC after working in government and in the nonprofit sector.

In the 1980s, she served in several roles in New York City Mayor Ed Koch's administration, including as a deputy commissioner in the city finance administration. In the 1990s, she was chief of staff to then-congressman Charles Schumer. Later, she became a principal at the Podesta Group Inc. before getting involved in the nonprofit sector.

Kellermann was interim director at the Alliance for Young Artists & Writers and was chief executive director of the September 11th Fund.

The CBC's executive committee has created a committee to look for candidates to fill Kellermann’s position and advance CBC's mission as New York's budget watchdog.

The CBC also announced the nomination of Walter Harris to become chair starting on Jan. 1, 2019. Harris, who is on the CBC executive committee, will succeed Chair Ed Skyler, whose term expires at the end of the year. Harris' nomination will be submitted to the trustees for election this week.

“At a time when government resources continue to become more constrained and federal laws hinder our state's economic competitiveness, the Citizens Budget Commission's mission has never been more important,” said Harris.

Walter Harris has been nominated  to become Chair of the CBC.
Walter Harris has been nominated to become Chair of the CBC.

Harris has been a member of the CBC's executive committee for nearly 14 years, serving two terms as vice chair from 2010 to 2015, and has been a CBC trustee since 2001. As co-chair of the Budget Policy Committee for the last six years, he has played a key role in developing positions on city and state fiscal issues.

"Carol Kellermann has been an outstanding leader of CBC for the past 10 years, and we have been very lucky to have her," Skyler said. "Under her leadership, CBC has expanded the number of trustees and cemented its standing as the leading voice for city and state fiscal responsibility. Walter will make an excellent Chair. He is committed to CBC's mission and he, along with CBC's future president and skilled and knowledgeable staff, will continue to hold New York government accountable."

The CBC was founded during the Great Depression to analyze New York City's finances and issue reports and recommendations, and later included the state government as well.

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Chip Barnett

Chip Barnett

Chip Barnett is a journalist with more than 40 years of experience. Barnett is currently Senior Market Reporter for The Bond Buyer.