MWRD welcomes Steve Lux as its new Treasurer

July 8, 2024

After a nationwide search, the Metropolitan Water Reclamation District of Greater Chicago (MWRD) has announced the appointment of Steve Lux as its new Treasurer. Steve brings a wealth of experience and expertise to the role, furthering the MWRD's mission to provide quality management of its financial resources. He replaces Mary Ann Boyle.

Lux brings more than 35 years of accounting and finance expertise, having started his career at Touche Ross, which later merged with Deloitte. In 1996, he joined the City of Chicago, his former client, as Deputy Comptroller, advancing to Managing Deputy Comptroller and then City Comptroller before serving as a Director at Baker Tilly for two years.

In 2013, Lux returned to government as the Chief Financial Officer of the Chicago Park District. During his eleven-year career at the Park District, he supervised various departments including Budget and Management, Comptroller's Office, Finance, Performance Management, Procurement, Revenue and Treasury. He transitioned the Park District's health care to a self-insured model, implemented cost-saving measures, and reduced utility costs by hedging energy prices during the pandemic.

Lux graduated from the University of Illinois at Champaign with a Bachelor of Science in Accountancy.

"I am honored to join the MWRD and contribute to its mission of financial stewardship and operational excellence," said Steve Lux. "I look forward to working with the talented team at the MWRD to ensure the continued success and sustainability of our financial practices."

Steve Lux, the MWRD's new Treasurer, meets with members of the Board of Commissioners.

The Treasurer is responsible for maintaining the MWRD's cash and investments while maintaining a proper level of liquidity and maximizing investment returns; debt management which consists of issuing bonds, timely payment of principal and interest payments; ensuring the MWRD has capacity to issue bonds under its Debt Service Extension Base; maintaining relations with rating agencies and investors; and managing the assets of the MWRD's Retiree Healthcare Trust Other Post Employment Benefits. The MWRD has an annual budget of $1.4-billion and holds a AAA credit rating from Fitch Ratings, a Aa1 rating from Moody's Investor Services and AA+ from Standard & Poor's Global Ratings.

"The MWRD is committed to maintaining financial excellence and ensuring the effective and efficient use of resources," said MWRD President Kari K. Steele. "Steve's leadership and vision will be instrumental in advancing our goals and supporting the vital work of our organization."

Lux's appointment underscores the MWRD's ongoing commitment to fiscal responsibility and strategic financial planning. His leadership will play a key role in navigating the financial landscape and supporting the MWRD's critical infrastructure projects and environmental initiatives.