Remembering Professor Steven M. Levine

SIPA is sorry to share the news that Steven M. Levine, an adjunct faculty member and a dedicated public servant, died on August 28.

Levine had a rich background in municipal finance, having worked in the New York City Office of Management and Budget for nearly 25 years over two distinct tenures.

He first joined the office in 1979, a tumultuous period in New York City’s financial history when the Big Apple was still reeling from the fiscal crisis and near-bankruptcy of the mid-1970s. Levine helped facilitate the city’s recovery as director of financing policy and coordination, serving as liaison to the Municipal Assistance Corporation, which provided capital and cash flow to New York through the early 1980s to help it get back on its financial feet.

During his first 12 years with OMB, Levine also served as the initial treasurer of the New York City Municipal Water Finance Authority and was instrumental in the Authority’s creation.

After leaving OMB, Levine spent 11 years in the public-finance division of Moody’s Investors Service, the last four as managing director for regional ratings.

He rejoined OMB in 2002—inspired, according to the Staten Island Advance, by the events of September 11, 2001. As deputy director of the expense, revenue, and capital budget division, Levine oversaw a staff of 60 analysts, who monitored the budgets and operations of almost 60 city offices in turn—including police, fire, sanitation, corrections, transportation, parks and recreation, and environmental protection.

In the multiple classes he taught at SIPA, Levine translated his public-sector finance experience into a wealth of knowledge for students.

“Steve Levine was an extraordinary public servant, and SIPA students who were able to take his public-finance course were fortunate to learn from his deep well of knowledge,” said Professor Ester Fuchs, the director of the Urban and Social Policy concentration. “Steve was known in government as a consummate professional, and was brilliant in his understanding of New York City’s budget and finances.”

Levine’s commitment to public service extended beyond his professional and academic life. He was active in many local charity organizations and served as a mentor in a program run by NYC Administration for Children’s Services and as a board member on the Trust for Cultural Resources of the City of New York.

He lectured at universities throughout the United States and consulted internationally on issues of government financing and financial management.

Levine held an MBA from New York University and an BS in economics and accounting from Brooklyn College. He was survived by his wife, Carmen Fermaint, and son, Robert Mujica; a daughter, Melissa, predeceased him.

”When Steve came to SIPA he was generous to our students and enthusiastic in his teachings,” Fuchs added. “His untimely passing has saddened us all, and we will miss him.”

— Lindsay Fuller MPA ’16

Thanks to colleagues Andrew Johnson and Patricia Macken for providing additional information.