Connecticut Treasurer Denise L. Nappier announced today the appointment of Sarah K. Sanders as assistant treasurer for debt management. In this capacity, Sanders will direct the day-to-day operations of the treasury’s debt management division, responsible for $14 billion of outstanding state bonds and the issuance of over $1 billion in new bonds each year to finance the state’s capital projects.
The division also manages Connecticut’s debt-service payments and cash-flow borrowing, maintains the state’s rating agency relationships, administers the Clean Water and Drinking Water loan programs, and manages tax-exempt debt compliance according to Internal Revenue Service regulations.
In addition, Sanders will serve as the treasury’s liaison to a number of boards and agencies, including the State Office of Policy and Management, the Office of Fiscal Analysis, and the State Bond Commission.
“Sarah brings seasoned knowledge and a strong track record of managerial success to the treasury’s business of debt management,” Nappier said. “A consummate professional, she has played a key role in the debt management team’s unparalleled accomplishments that have saved taxpayers more than $450 million during my administration.”
Sanders has been serving as Acting Assistant Treasurer, succeeding Catherine Boone, who retired from the post at the end of the 2006 calendar year. She joined the treasury a decade ago, following 12 years at Yankee Energy System — the largest natural gas distribution company in the State at that time — where she rose to the position of corporate treasurer. A graduate of the University of New Hampshire and the University of Connecticut master’s program in resource economics, Sanders is a member of the Government Finance Officers Association.
“I am honored by the Treasurer’s appointment and look forward to continuing to work with her on developing innovative financing solutions for the state’s future funding needs,” Sanders said.
