New budget chief Rhynhart looking forward to challenges

Mayor Nutter yesterday named City Treasurer Rebecca Rhynhart as his next budget director.

Rhynhart will take over the job of steering the city's $3.9 billion operating budget on Nov. 1. She will report to Finance Director Rob Dubow. Her salary will be raised from $140,000 to $150,000.

"She was the only person I thought about," Nutter said, when asked if he did an extensive search for the job.

Rhynhart is taking on a big job. The city has faced massive fiscal decline since Nutter took office, cutting billions from the five-year financial plan.

"I'm looking forward to tackling the budgetary challenges facing the city," Rhynhart said.

Previous budget director Steve Agostini left the administration last week to become chief financial officer at the U.S. Office of Personnel Management, in Washington, D.C.

During her time as treasurer, Rhynhart oversaw payments out of the treasury, supervised the city's investments and managed cash flow. Before joining the Nutter administration in 2008, Rhynhart worked for the investment bank Bear Stearns.

Nutter yesterday also named Deputy Budget Director Maari Porter as the city's recovery officer, in charge of overseeing the stimulus dollars provided to the city government.

Porter, who previously served as a deputy budget director in charge of stimulus money, came to Philly from government jobs in the United Kingdom and New Zealand. Her salary will be $103,000, up from $97,000.