Rebecca Rhynhart will leave her current position as Philadelphia’s treasurer and replace former budget director Stephen Agostini beginning Nov. 1.

Mayor Michael Nutter Tuesday announced Rhynhart’s promotion. As treasurer, she manages the city’s debt transactions, including addressing variable-rate debt, derivatives, and credit facility issues. As budget director, she will oversee Philadelphia’s $3.78 billion budget and its $2.3 billion capital budget, and craft yearly and five-year financial plans.

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