Elizabeth Reich, who wrapped up her final day as Dallas chief financial officer on Thursday, will be joining Dallas Area Rapid Transit starting July 18.
DART announced on Friday that Reich, as its new CFO, will be a key member of the executive team, reporting to President & CEO Nadine Lee and leading the agency’s accounting, financial reporting, budget, treasury, fare collections and fare payment systems, debt management, investment management, and risk management functions.
“Reich brings a diverse skill set to the agency, including deep financial experience, strong analytics, and a track record of achievement,” Lee said in a statement. “She is the right leader to helm our talented finance organization and deliver a comprehensive strategic financial plan that will help drive our rider-focused vision for the future.”
Reich told The Bond Buyer that DART has the opportunity to make a difference in the lives of Dallas residents.
“Particularly in an environment of rising costs, inflation, and gas prices, public transit is incredibly important for moving people from their homes to their jobs,” she said. “We need to be really successful and efficient and a great service for residents. I really look forward to helping deliver on that vision.”
DART provides light rail, commuter rail, and bus and paratransit services for more than 220,000 passengers daily in the Dallas area.
After nearly six years in city government, Reich resigned last month with Dallas Budget Director Jack Ireland tapped to replace her as CFO.
Reich said while she accomplished a lot as Dallas CFO, including helping to broker a compromise to save the Dallas Police and Fire Pension and boosting the city’s reserve balance, she was ready for a new challenge.
“I wanted to stay local and stay in service to this community and this was a great option to do that,” she said.
Prior to her position with the city, Reich spent 16 years at the Social Security Administration, where she served as the deputy regional commissioner of the Dallas Region and also served as its CFO.