City of Houston Office of the City Controller

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CITY CONTROLLER NAMES SHAWNELL HOLMAN-SMITH DEPUTY CITY CONTROLLER

February 3, 2011 -- Houston City Controller Ronald C. Green has named Shawnell Holman-Smith Deputy City Controller, effective February 1, 2011. Holman-Smith will be responsible for managing the City’s Debt Section and Investment Portfolio.

Before serving as Treasury Manager in the Controller’s Office for seven years, Holman-Smith served for eight years in the Budget Section of the City’s Finance Department and Fire’s Finance & Accounting Section. She has a BA degree in Economics from Rice University and an MBA from the University of Houston-Victoria.

“Shawnell has an exemplary record in her service to the City, and I am confident of her ability to manage the city’s debt and investments at this critical time in our history,” says Controller Green. “She is vigilant about finding re-funding opportunities, managing the investment portfolio and also seeking securities that generate significant interest income for the City.”

The Deputy City Controller over debt and investment is responsible for managing $13 billion of outstanding debt, $2 billion of investment securities as well as overseeing the daily treasury functions which average $10 million a day.

Recently, the Debt and Investment division was able to refinance $94 million of airport debt (without extending the life of the debt) to completely tax exempt debt, saving the City $15-20 million over 15-20 years. Additionally, the division also recently refunded $200 million of previously issued water and sewer bonds (again, without extending the debt’s life), saving the City $15 million over nine years.