November 20, 2007
HP-691
Secretary Paulson Statement on the Retirement of FMS Commissioner Kenneth R. Papaj
Washington- Treasury Secretary Henry M. Paulson, Jr. issued the following statement today upon the retirement of Financial Management Service Commissioner Kenneth R. Papaj, effective January 4, 2008:
"Ken Papaj's 34 years at the Treasury Department have been dedicated to improving government-wide financial management. Ken demonstrated outstanding leadership and judgment as FMS Commissioner.
"In key executive positions over the last 20 years, he has been instrumental in modernizing federal disbursements, revenue collections, central accounting, debt collection, and the regulation of government securities. He has been a highly respected leader in the financial management community.
"I commend his recent efforts to improve Treasury's relationship with Chief Financial Officers across the Government, for ensuring operational excellence throughout FMS, and for his genuine commitment to our strategic goal of the all-electronic Treasury. We will miss his vast knowledge of government fiscal operations."
Commissioner Papaj served as the FMS Commissioner since 2006. He was the FMS Deputy Commissioner from 1998 to 2006, and prior to that held senior executive positions at Treasury's Bureau of the Public Debt. He began his Federal career at the Bureau of Government Financial Operations, FMS's predecessor organization.
FMS has primary responsibility for the Federal Government's payments and collections, annually processing more than one billion disbursements to more than 100 million people, processing over $3 trillion in Federal revenues, and collecting over $3.5 billion in delinquent debt. As manager of the Government's central accounting and financial reporting systems, FMS issues the annual Financial Report of the U.S. Government.
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