Councilman Daniel Garodnick has announced his candidacy to replace embattled New York City Comptroller John Liu.
The second-term councilman sent an e-mail and video to supporters Tuesday.
He cited the continuing deficit and challenges to the pension system. Gardonick promised an "independent voice" if he's elected.
He's the first to announce his intentions.
He's already raised $1 million for his campaign.
Liu, the current fiscal watchdog, has been beset by political troubles. They stem from a federal investigation into his campaign fundraising that has led to two arrests.
He's said his campaign did nothing inappropriate. Political analysts have speculated he might run for re-election rather than seek the mayor's job in 2013.
Garodnick has served as chairman of the Council consumer affairs committee and member of its budget negotiating team.