Elinor B. Bachrach, who has served as one of New York City's chief fiscal monitors for the past nine years, has resigned as deputy state comptroller to take a post with the International Monetary Fund.
Bachrach, whose resignation is effective Dec. 31, said she was leaving for "personal reasons." She has served as deputy comptroller for New York City since 1983, one of seven deputies under state Comptroller Edward V. Regan.
Her duties have included analysis of the city's four-year financial plan and capital budget, and auditing of city agencies and programs. She also advised the New York State Financial Control Board and the Municipal Assistance Corporation for the City of New York on the city's fiscal affairs.
The deputy state comptroller for New York City is one of several city fiscal monitors established by state statute after the city's financial crisis of the 1970s. Also watching the city's finances are the Financial Control Board, MAC, and the city comptroller's office.
Bachrach said her decision to join the IMF as a consultant is unrelated to speculation about a pending reorganization of the audit officials in the state comptroller's office.
Bachrach, who has degrees in international relations from Princeton University and political science from Brown University, has worked as a consultant for the World Bank. With the IMF, she will be consulting on the budgets of developing countries.
"I have a personal interest in international relations," she said, "and a great opportunity came along."
In announcing the resignation, Regan said Bachrach "has earned a fine and solid reputation over the years as a consummate professional and a knowledgeable commentator of the state of the city and its economy."
A spokeswoman for the state comptroller said the office has begun recruiting a successor to Bachrach, only the second official to serve in the post since it was established in 1975.
In recent months, speculation has swirled that Regan would have to combine the functions of his seven deputies in an effort to reduce administrative costs that have strained budgets across the state.
Knowledgeable sources said it is unclear which office might be eliminated. One source said Regan will probably not eliminate the city's deputy comptroller, but may reduce its functions to only financial analysis of city budgets.
The source added, however, that Bachrach's departure may provide some impetus for eliminating the office, which some people in Albany had viewed as repetitive given the number of other city fiscal monitors.
In recent months, the deputy comptroller's office for the city has seen its budget affected by the state's effort to deal with its own fiscal problems. During the past legislative session, lawmakers decided to finance the office's roughly $5 million budget with both MAC and state money. Since 1986, the office was funded through solely appropriations by the state Legislature.
The corporation receives funding through city sales tax revenues.
