Pomona College has tabbed Los Angeles City Administrative Officer Karen Sisson to be its next treasurer, overseeing the college's $130 million budget and $1.7 billion endowment.
Will Bigham had an article in the Daily Bulletin on the Sisson appointment.
Sisson is a Pomona alum and is probably picking a good time to leave the City of Los Angeles, which is facing a $400 million budget deficit after already having had to cut $155 million from its current fiscal year's operating budget.
Sisson's experience with LA's budget problems didn't escape Charles Johnson's notice over at the Claremont Conservative:
My main question: God knows I'm no finance guru, but does Pomona really want to entrust that task to someone who managed the City of Los Angeles into a $155 million deficit?
(I guess when you're jugging around with a $7 billion dollar budget, $155mil is chump change.)
Naturally Sisson had a series of recommendations to reduce the shortfall by $117 million, "including the sale of three former animal shelters and a delay in the construction of police and fire stations."
Kevin Roderick at LA Observed gave a brief biography for Sisson when she was named Los Angeles' CAO last year:
[Posted on LA Observed, 2/2/07]:
Her extensive career in public finance includes eight years as Chief Financial Officer of Los Angeles World Airports, where she was an architect of LAX’s post-9/11 Interim Financial Plan. The plan’s success resulted in LAX receiving a double-A rating from Standard & Poor’s - the highest ever rating for a general airport revenue bond.
In her new role, Sisson follows William T. Fujioka, who retired after more than seven years of distinguished service as City Administrative Officer. Sisson began serving as Acting City Administrative Officer in early December.
Sisson has held progressively responsible positions with the City of Pasadena, the Community Redevelopment Agency of Los Angeles and one of the City’s financial advisory firms, Public Resources Advisory Group. Her private sector experience includes positions with Countrywide Funding Corporation and the former Chemical Bank in New York.
She holds an MBA from the University of Chicago in Finance and Public Management, and a BA in International Relations from Pomona College.
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