T. Eloise Foster Brings Impressive Public Service Experience to Volcker Alliance Board of Directors

The Volcker Alliance

Contact: Neilia Stephens, Director of Communications


Ms. Foster, the first African American woman in the nation to serve as a chief state budget officer, joins good government group founded by Paul A. Volcker

NEW YORK, NY (January 15, 2021) – The Volcker Alliance is excited to announce that T. Eloise Foster, who served for a decade as the secretary of the Maryland Department of Management and Budget, has joined its board of directors. Ms. Foster, who now serves as the secretary and treasurer of the Financial Accounting Foundation Board of Trustees, joins a bipartisan board of prominent federal, state, and local government officials, business leaders, and scholars.

“Ms. Foster brings an outstanding level of fiscal policy acumen,” said Bill Bradley, chairman of the Volcker Alliance board of directors. “She holds an extraordinary public service record, and our board is delighted to benefit from her experiences and perspectives.”

Ms. Foster served as the chief fiscal advisor to the governor of Maryland and was responsible for managing Maryland’s multi-billion-dollar budget and personnel system governing nearly 80,000 employees. She led efforts to balance the state budget during the worst recession since the Great Depression and served as the chief architect of fiscal policies to eliminate Maryland’s long-term structural deficit, reduce spending, address unfunded liabilities, and protect the State’s Triple A bond rating. During her tenure, Ms. Foster was the primary architect of proposals to reform the state pension system and revamp the health benefits program. She also proposed changes to make the state tax code more progressive and to close loopholes.

“As a long-time public servant, I am deeply passionate about effective government, and I am excited to join an organization that is working so tirelessly to empower the public sector workforce,” said Ms. Foster. “I am enthusiastic about contributing to the Volcker Alliance’s efforts to provide strategies to help government deliver better results.”

“Our founder, Paul Volcker, believed that it is critical to engage our most thoughtful and accomplished citizens in service to the public good,” said Thomas W. Ross, president of the Volcker Alliance. “Ms. Foster exemplifies the exact kind of dedication and public spirit that Mr. Volcker envisioned for the leadership of the Volcker Alliance. Her decades-long career working towards effective government is a remarkable model of public service excellence.”

Previously, Ms. Foster served as assistant dean for business affairs and program development at the University of Maryland School of Medicine, and as a legislative officer for Governor William Donald Schaefer, and as an analyst for the Maryland General Assembly.

Ms. Foster is an honorary lifetime member of the National Association of State Budget Officers and a former member of the National Forum for Black Public Administrators. She is a member of Alpha Kappa Alpha Sorority, and The Links, Incorporated. She has served on the Howard University Cancer Center Advisory Board, the Seton Keough School Board, and the Arts and Humanities Council of Montgomery County. Ms. Foster was named one of Maryland’s Top 100 Women in 2002, 2007 and 2010.

The Volcker Alliance empowers the public sector workforce to solve the challenges facing our nation. The nonprofit, nonpartisan organization is inspired by the legendary public service of our founder, Paul A. Volcker, former chairman of the Federal Reserve, and his vision of a public sector workforce with the experience, preparation, and commitment to ensure government is accountable and delivers with excellence. Visit volckeralliance.org to learn more. Follow us on social media @VolckerAlliance and subscribe to the Volcker Alliance newsletter for the latest news and developments. The Volcker Alliance is a 501(c)(3) organization.