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March 4, 2008

 

DiNapoli Appoints SanFilippo

To Municipal Bond Bank Agency

New York State Comptroller Thomas P. DiNapoli today announced that he has appointed Buffalo City Comptroller Andrew SanFilippo to serve as a director on the State of New York Municipal Bond Bank Agency (MBBA), which helps local governments access capital for general improvements and education needs.

“Comptroller SanFilippo has a rich and distinguished legacy of public service, and his expertise in government finance and local government will serve New York taxpayers very well,” DiNapoli said. “Since taking office as Buffalo City Comptroller in 2003, Andy has been a steady, powerful and effective force for positive change in the State’s second-largest city. I’m pleased to have Buffalo’s chief fiscal watchdog as my appointment to the MBBA.”

“We are pleased to welcome Comptroller SanFilippo to the MBBA board,” said Priscilla Almodovar, President and Chief Executive Officer of MBBA. “His hands-on expertise and knowledge of government finance will help the agency in providing better access to the capital markets for the state’s municipalities.”

SanFilippo was re-elected to his second four-year term as Buffalo City Comptroller in November. During his tenure in office, SanFilippo has served as a member of the city’s Joint Schools Construction Board and has worked closely with the Buffalo Fiscal Stability Authority, which was created to help Buffalo address the fiscal challenges that followed the Sept. 11 terrorist attacks.

Between 1980 and 2003, SanFilippo served as the city’s Investment and Debt Manager and was responsible for issuing more than $2 billion of debt for the City, the Buffalo City School District, and the Buffalo Municipal Water Finance and Sewer Authorities. Prior to that post, SanFilippo served as Executive Assistant to the Buffalo City Comptroller beginning in 1973. He holds a B.S. from SUNY – College at Brockport. SanFilippo is a director with the New York Society for Municipal Finance Officers, the Joint Schools Construction Board, and the New York State Government Finance Officers Association.

The State Legislature created the MBBA in 1972 to help local governments finance capital improvements. The MBBA has operated a tax-lien securitization program since 2000, and in 2002, its powers were expanded to include special financing for school needs. SanFilippo will attend his first MBBA board meeting tomorrow, March 5.

As a member of the MBBA board, SanFilippo will also serve as a member of MBBA's subsidiary corporation, the Tobacco Settlement Financing Corporation, which was created in 2003 to purchase New York State’s share of tobacco settlement revenues.

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