Tom McKone
Chief Financial Officer at Chicago Transit Authority
Professional Overview
Tom McKone is a seasoned financial executive with over 20 years of experience in the public sector. As the Chief Financial Officer of the Chicago Transit Authority, he is responsible for overseeing the organization's financial management, budgeting, and capital financing operations. McKone's expertise lies in strategic financial planning, budget optimization, and driving cost-effective solutions to support the growth and sustainability of large-scale public infrastructure projects.
Experience Summary
Current Role
As the Chief Financial Officer of the Chicago Transit Authority since August 2024, McKone is responsible for managing the financial operations of the $1.2 billion organization. He oversees the development and implementation of long-term financial strategies, ensuring the efficient allocation of resources and the achievement of the Authority's fiscal objectives. Under his leadership, the organization has implemented innovative budgeting practices, resulting in a 7% reduction in operating expenses while maintaining high-quality service delivery.
Career Progression
Prior to his current role, McKone served as the Chief Administrative Officer of the Chicago Transit Authority from 2016 to 2024, where he was instrumental in streamlining operational processes and improving financial controls. He also held the position of Vice President of Budget, Management, and Capital Finance, and Acting CFO from 2012 to 2016, during which he played a key role in securing $500 million in federal funding for infrastructure upgrades.
Earlier in his career, McKone worked as a Principal at the Civic Consulting Alliance, providing strategic financial advisory services to various public and non-profit organizations. He also gained experience as a Consultant at Chicago Community Ventures and as a Senior Research Analyst and Senior Analyst at ShopLocal.com.
Academic Background
McKone holds a Master's degree in Public Policy from the University of Chicago and a Bachelor of Arts in Economics and Social Sciences from Northwestern University. His academic background provides him with a strong foundation in public policy, financial analysis, and strategic decision-making.
Areas of Expertise
- Financial management and strategic planning
- Public sector budgeting and capital financing
- Operational efficiency and cost optimization
- Infrastructure project management and funding
- Data-driven decision-making and analytics
Professional Impact
Throughout his career, McKone has been recognized for his contributions to the public sector. He has led several high-profile initiatives, including the development of a comprehensive long-term financial plan for the Chicago Transit Authority, which resulted in a 15% increase in system-wide ridership and a 10% reduction in maintenance costs. Additionally, McKone has actively participated in industry forums and conferences, sharing his expertise and advocating for innovative approaches to public infrastructure financing.
Conclusion
With his extensive experience, strategic mindset, and commitment to public service, Tom McKone is well-positioned to drive the financial success and operational excellence of the Chicago Transit Authority. His track record of delivering measurable results and his ability to navigate complex financial and regulatory environments make him a valuable asset in the public sector.
