FOR ALBANY COUNTY COMPTROLLER
FOR ALBANY COUNTY COMPTROLLER
MEET THE ALBANY COUNTY COMPTROLLER
Susan Rizzo was born and raised in the City of Albany. She attended SUNY Plattsburgh and earned a Bachelors of Science in Accounting. Susan began her career in the private sector and has more than 30 years professional accounting and financial experience.
Prior to her election to Albany County Comptroller, Ms. Rizzo was the Vice President of Real Estate Investments for Cornerstone Real Estate Advisors, a subsidiary of Mass Mutual Life Insurance. Ms. Rizzo specialized in hotel property investments. Her last assignment, prior to public service, was as the Portfolio Asset Manager for the Los Angeles County Firemen Pension Fund. She managed over $300 million in hotel real estate assets for the pension fund. Throughout her career, Ms. Rizzo specialized in luxury and boutique hotel assets.
Additionally, as an Investments Manager for MetLife Real Estate Investments, Ms. Rizzo was in charge of originating, underwriting, and closing commercial real estate mortgages. She managed a $1.5 billion portfolio of equity owned hotels, including hotel mortgage production and hotel sales, positioning properties to sell, re-negotiating management agreements, developing exit strategies, reviewing and approving budgets, and developing valuation procedures. Ms. Rizzo also coordinated investments, valued properties via the income, market, and physical cost approach, and developed annual property information packages. Susan created strategies to maximize value, including sub-dividing mixed-use properties, pursued tax appeals, positioned hotels to sell, successfully sold these hotels or utilized a long-term investment approach to maximize the return on investment.
Ms. Rizzo began her career in public service as a member of the City of Albany’s Assessment Board, where she successfully assisted City residents with residential and commercial assessment grievances. Shortly thereafter she became the Chief Financial Manager for the City of Albany’s Department of General Services. In 2017 she was elected as the Chief City Auditor for the City of Albany. As Chief City Auditor, she conducted more audits than any of her predecessors to help the City identify over $1 million in expense savings and additional revenue opportunities.
Since taking office in January 2020, she has worked diligently to professionalize the Comptroller’s Office and has implemented extensive procedural changes that resulted in increased operational efficiencies to ensure the highest quality of service to the County taxpayers.
Under her leadership, Albany County has maintained its strong credit rating and reputation in the municipal bond market, which has resulted in an impressive savings for its taxpayers. Despite the COVID-19 Pandemic, S&P Global Ratings reaffirmed the County’s overall long-term credit rating as AA with a Stable Outlook. This strong credit rating ensures a lower interest rate for the County while other municipalities have been downgraded during the pandemic. In June 2020, the Comptroller completed a refinancing of a portion of the County’s outstanding debt that saved the taxpayers over $1 million at a 0.598% interest rate.
Since 2020, the Comptroller’s office completed a thorough and exhaustive analysis of the County’s Debt Service Fund. This analysis led to the discovery of roughly $17 million in funds that have been added to our total debt reserve. Included in this was $6.7 million in available unrestricted funds from court facility reimbursement related to project costs dating back to 2003. These discovered funds have allowed the County to contribute an additional $6.7 million towards the 2022 debt service payment. As well as using the $6.7 million from court facility reimbursement to create two reserve funds, a Capital Reserve fund for $3.7 million to be used to fund projects traditionally paid for from bonding, and a Retirement Contribution Reserve for $3 million will be created. This results in reductions in payments for the next 10 years.
In December 2020, the Comptroller completed a preemptive short term cash flow borrowing of $40 million, which has since been repaid, to provide much needed relief to navigate cash shortfalls at the end of 2020 and beginning of 2021. This short term borrowing gave the County the ability to take advantage of the NYS Retirement early payment program, resulting in $236,000 in County wide savings.
Comptroller Rizzo will continue to draw upon her extensive accounting and financial experience to professionally execute her responsibilities as County Comptroller.
What is a COMPTROLLER
Comptrollers are accounting and finance professionals who oversee the fiscal activity of public agencies, nonprofit organizations, or businesses. In a nonprofit or government agency, a comptroller often holds a role similar to a chief financial officer (CFO).
Comptrollers need an array of knowledge and skills to do their work. Often, their duties include these five key job tasks:
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THANK YOU FOR ALL YOUR SUPPORT
To Contribute Via Mail
please send a check made out to:
Friends of Susan A. Rizzo
P.O. Box 8354
Albany, New York 12208
Susan Rizzo is proud to have received the following endorsements for the office of Albany County Comptroller.
I'm humbled to know my professional career experirnce, passion for my community and commitment to public service has been recognized in such a manner. – Susan Rizzo
The Albany County Democratic Committee is a grassroots organization totally fueled by volunteers. We are the party of everyday people and need volunteers for big and small jobs in every corner of Albany County.
Together, we can make the future and build a country where everyone can thrive. We believe that no matter where we come from or what our color, most of us want the same things. We want to earn enough to thrive, not just survive, and leave a better future for our kids. We want healthy food and clean water, safe neighborhoods and a safe world. We want to be free.
Albany Permanent Professional Firefighters Association Local 2007, which also operates under the name APPFA L2007, is located in Albany, New York. This organization primarily operates in the Labor Union business / industry within the Membership Organizations sector. This organization has been operating for approximately 53 years.
Help elect Susan Rizzo for County Comptroller
Vote Democratic Primary
Tuesday, June 27
Early Voting: June 17-25
Vote Election Day
Tuesday, November 7
Early Voting: October 28 - November 7
Contact Info:
rizzoforalbany@gmail.com
Mailing Address:
Friends of Susan A. Rizzo
P.O. Box 8354
Albany, New York 12208
Thank you. We look forward to hearing from you.