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Kathy Kardell, the assistant commissioner for treasury at the Minnesota Department of Management and Budget, is leaving the agency to take a new job with Hennepin County.

Kathy Kardell to leave Minnesota Management and Budget

Peter Bartz-Gallagher)

Kathy Kardell (Staff photo: Peter Bartz-Gallagher)

Kathy Kardell, the assistant commissioner for treasury at the Minnesota Department of Management and Budget (MMB), is leaving the agency to take a new job with Hennepin County. Her last day at MMB is Thursday. She will join Hennepin County’s Office of Budget and Finance on Oct. 25.

Kardell was a key official in handling the state’s debt sales during the Wall Street meltdown and credit crisis of 2008 and 2009. She also worked on updating the state’s bonding guidelines.

More recently she negotiated a line of credit with U.S. Bank as a fallback for the state’s cash flow crunch.
Kardell, of Eden Prairie, had 20 years of experience in the private sector when she came to MMB in 2008.

The state made a $908 million bond sale on Sept. 8. The sale included $687 million in general obligation bonds. The state doesn’t have any sizeable offerings planned before Gov. Tim Pawlenty leaves office in January.

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