Masch resigns as budget secretary

Michael Masch has announced he will leave his position as the state's budget secretary to begin a new career as the school district of Philadelphia's new chief business officer. Masch, who has been a top financial advisor to Gov. Ed Rendell since he took office in 2003, will be working under Arlene Ackerman. Ackerman is set to take over as the district's chief executive next month.

In a press release, Gov. Rendell praised Masch's work. "I have had the pleasure of serving in government with Mike Masch, first, for almost eight years in Philadelphia and, now, more than five years as governor of the Commonwealth."

He added, "The fact that the Commonwealth is one of the few states running a budget surplus while other states are grappling with billion-dollar deficits is a tribute to his wise stewardship."

Masch is scheduled to officially begin his job overseeing the school district's finances on July 1.