Who She Is: Rahm Emanuel's chief fiscal officer, Lois Scott, grew up in Apalachin, NY. Her father was a doctor and her mother worked for a company that provided sewers to towns. She received her masters from Cornell University then moved to Chicago to work for First Chicago Corp. She transitioned into investment banking, working for the firm Donaldson, Lufkin & Jenrette then worked for Bank of America. Scott co-founded and is president of Scott Balice Strategies, a financial advisory firm. Emanuel and Scott have known each other since their days in the Clinton White House where she was a White House Fellow and he was a policy chief.
City Salary: Scott's annual salary is $169,992.
Goals: She has been charged with the task of cutting $75 million from Mayor Daley’s final budget as well as remedying the city’s $600 million deficit. She wants to make those cuts creatively and in the least controversial way possible. Her background in privatization of government services may be an indication into the direction Scott will take, but she insists that she will not privatize without weighing the benefits as well as the pitfalls of such a decision.
Challenges: The challenge facing Scott will be finding the most efficient ways to make cuts with the least impact on citizens and provided services.