City of Albuquerque Chief Financial Officer, Sanjay Bhakta, to Retire at End of the Year
Mayor Tim Keller announced that Chief Financial Officer (CFO) Sanjay Bhakta will retire at the end of this year. Bhakta has served as CFO since the start of the administration, having been appointed by Mayor Keller in December 2017.
Prior to joining the City, Sanjay worked for New Mexico State Government for 13 years, serving in various capacities including Deputy State Auditor under then State Auditor Tim Keller for three years and ASD Director/CFO at the New Mexico Department of Finance and Administration for three years.
Sanjay navigated the City through the unprecedented financial uncertainties of the pandemic, managing to support City employees and their families while continuing to invest in public safety and quality of life projects throughout Albuquerque. Under his leadership, the City moved to the self-insured model for health insurance coverage that has saved millions of dollars in the last five years, as well as opening the BetterHealth clinic in City Hall for employees and their families. Sanjay played a crucial role in advocating for the fair share of gross receipt tax pertaining to internet commerce that has resulted in millions of dollars of recurring revenues for the City. In addition, the City’s Department of Finance and Administrative Services under his leadership received multiple recognitions from the Government Finance Officers Association for excellence in governmental budgeting and financial reporting. The team sustained the City’s excellent bond ratings, even during the pandemic, and have implemented innovative strategies that provide stability for volatile costs.
“Sanjay has been a reliable and powerful presence leading our city since the beginning. He’s shared his expertise and been a creative problem solver through some of our city’s most difficult times. With his leadership and extraordinary ability to hire the best talent, we’ve been able to protect jobs for Albuquerque families and make historic investments to help address some of our toughest challenges,” said Mayor Tim Keller. “On top of it all, he consistently delivered on the fundamentals, increasing our city’s bond rating, improving our audits and balancing the budget every single year. We’re grateful for his work and for the standards he’s set for the entire finance team at the City.”
“Together, we’ve been able to put Albuquerque families first and make responsible investments where they are most needed. I’m thankful for the hardworking team that continues to manage taxpayer money in a responsible and transparent manner. It has been a privilege to serve the City” said Sanjay Bhakta.