Stephen F. DeGroat

I am currently the Commissioner of Finance and Budget Director for the County of Rockland.� I started with the County of Rockland in 2011 and have worked to turn around a County in serious fiscal stress.� Many programs were implemented to cut cost and increase revenues, such as an early retirement incentive, sale of surplus properties, payroll deferral, increase to property taxes, establishment of a new motel/hotel tax, residential energy tax, vehicle registration fee and 911 surcharge.� The County currently has an operating budget in excess of $700 million.Before I came to the County of Rockland I was a senior vice president in charge of marketing and new business development in the Municipal Finance Engineering Group, Department of Public Finance at Dexia Credit Local.� Prior to that I was a managing director of the Municipal Finance Department at Financial Security Assurance, and vice president and eastern region manager of MBIA Insurance Corporation’s Tax-Backed Department.� My municipal career began as a senior examiner of municipal affairs for the New York State Comptroller’s Office in White Plains, NY.�I joined Dexia Credit Local in 2007 and directed my efforts in the direct lending private placement area for municipal governments and agencies.� Our new business development lead to an array of various bank taxable and tax-exempt financing, such as lines of credit, restructuring and refunding, equipment financing, bridge loans, POB’s and OPEB’s.In 1996 I joined FSA and worked diligently to eliminate their trading differential, increase deal volume and put FSA in position as the number one municipal bond insurer.� New business development included using the insurance product in new areas such as the New Jersey Investment Trust, Pool Financings and Royal Charter Properties.During my eleven years at MBIA, I held a number of analytical and management positions and worked on a wide variety of transactions, including Illinois Sports Facilities Authority (Chicago White Sox Stadium), Atlantic City Convention Center, New York Dormitory Authority (United Cerebral Palsy), Rhode Island DEBCO, Republic of Ireland, and several New York City and New York State local municipal issues.In the past I have been a member of the Municipal Analysts Group of New York, the Bond Market Associations, a trustee of the Citizen’s Budget Commission, President of the Municipal Forum of New York (2005-2006), member of the board of governors for the Municipal Forum of New York, Chairman of the Government Finance Committee of the Westchester County Association (1993-96), member of the Financial Reporting Task Force for the Government Accounting Standards Board (GASB), member of the Presidents Council and alumni hall of fame of St. Thomas Aquinas College and Alumni Chair for the STAC Annual Giving Program (1995-97).�Professionally, I am affiliated with the National Federation of Municipal Analysts, the American Institute of Certified Public Accountants, the New York State Society of Certified Public Accountants. and the Government Finance Officers Association.Presentations that I have made to numerous professional organizations include the National Government Finance Officers Association, the National Association of School Business Officials, the National Association of State Treasurers, the American Banker-Bond Buyer conferences, the National Forum on Public Finance (Governing Magazine), the University of Illinois at Chicago, Old Dominion University, the University of Massachusetts at Amherst and the University of Delaware.I have a MBA in finance from Iona College, Hagan School of Business and hold a Bachelor of Science degree in business administration with a concentration in accounting from St. Thomas Aquinas College.� I am a Certified Public Accountant.��