Allen J. Proctor, executive director of the New York State Financial Control Board, has announced he will resign from the post effective Aug. 12 to take a teaching position at Harvard University.

Proctor, who served as the control board's executive director for the past four and a half years, will teach budgeting at Harvard's John F. Kennedy School of Government.

The control board, which monitors New York City finances, has begun a search process for Proctor's replacement. The actual selection is completed jointly by the state's governor and the mayor of New York City.

Proctor announced his resignation in a letter to Gov. Mario M. Cuomo, the chairman of the control board. "I am proud to have had the opportunity to contribute to the honorable traditions of the financial control board," Proctor said. "Born as an experiment in 1975, the FCB has continually demonstrated the beneficial side of oversight and analysis."

Before coming to the control board, Proctor served in New York City's office of management and budget under former Mayor Edward I. Koch.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.