Indiana’s state budget director stepping down to become Carmel’s CFO

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Zachary “Zac” Jackson, who has led the State Budget Agency as director for nearly five years, is leaving state government to become chief financial officer and controller for the city of Carmel, the Indiana governor’s office announced Monday.

Jackson will step down April 5 after nearly 20 years with the State Budget Agency. He will take his new position April 5.

“Zac has dedicated almost 20 of years of his career to serving the State of Indiana,” said Indiana Gov. Eric Holcomb, who appointed Jackson to the budget agency’s lead job in 2019. “He has successfully managed balanced budgets and maintained the state’s AAA credit rating through unpredictable times such as the COVID-19 pandemic. I’m truly grateful for his service.”

Prior to joining the budget agency, Jackson had positions at the Indiana Office of Medicaid Policy and Planning and the Indiana Fiscal Policy Institute.

“Serving as state budget director for the last few years has been an incredible experience,” Jackson said in written remarks. “I’m forever grateful to Gov. Holcomb for this opportunity to serve Hoosier taxpayers and for the hard work of the dedicated staff at the State Budget Agency and my colleagues across state government.”

In Carmel, Jackson will manage all aspects of financial and cash-flow planning, analyze the city’s financial position, and set and monitor city financial strategy.

“Zac is one of our state’s top financial leaders, and I am thrilled to have him join our leadership team,” Carmel Mayor Sue Finkam said in written comments. “Shaping a transparent financial strategy and protecting and effectively directing our assets are critical in advancing our ambitious plans and continuing our strong financial position.”

The governor’s office gave credit to Jackson for developing and managing 10 biennial balanced budgets; managing state finances through financially unpredictable times, such as the Great Recession and the COVID-19 pandemic; designing and managing the implementation of technology that fundamentally changed the way that SBA manages budgets; and overhauling the agency’s financial management circular system.

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