Dominic Colafati is a Senior Fellow at ISLG, working primarily with the Operations team.

Dominic served for over 15 years as the Director of Fiscal Planning for the New York State Budget Division (DOB), where he led a talented team of 25 professionals charged with managing the finances of New York State. His teams developed and executed the State’s multi-year Financial Plan and Capital Plan, supervised its borrowing programs, prepared financial disclosures to investors and the rating agencies, protected its interests in financial arrangements, and positioned it to address emerging risks.

As the chief fiscal advisor to five budget directors, he provided strategic advice on the State’s most pressing fiscal matters, including closing the large budget gaps caused by the Great Recession and COVID-19, controlling the growth in State spending, reducing exposure to derivatives, lowering the State’s debt burden, and helping the State achieve its highest credit ratings in fifty years. In 2012, he was awarded the George A. Bell Service Award by the National Association of State Budget Officers for his work helping to guide New York through the Great Recession. During his career at DOB, which began in 1994, he has held several other leadership and analytical positions, including First Deputy Budget Director. Prior to joining DOB, Mr. Colafati was the research director for the Connecticut Conference of Municipalities, a non-profit association representing the interests of cities and towns.