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DC Treasurer to Receive Award from Wharton School of Business

Tuesday, June 24, 2003

(Washington, DC) District Treasurer N. Anthony Calhoun will receive the Distinguished Alumni award tonight from his alma mater, the University of Pennsylvania’s Wharton School of Business, at the 34th annual Joseph Wharton Award Dinner at the Mayflower Hotel.

“Anthony Calhoun is a tremendous asset to the District of Columbia government as its treasurer,” said Chief Financial Officer Natwar M. Gandhi. “His dedication to public service is a quality to be admired and replicated. I cannot think of a more fitting tribute for Mr. Calhoun than receiving the Distinguished Alumni Award from one of the most prestigious business schools in the world - the Wharton School of Business.”

“I am honored to receive this recognition by my alma mater,” said Calhoun, who has spent the majority of his career as a public servant. “The annual award dinner is always a special occasion, because it is an opportunity to raise money for the school’s scholarship fund, allowing others to attend this university.”

Calhoun was appointed District treasurer in January 2001. He played a significant role in helping the District return to a bond rating of A-, which enables the city to borrow at lower interest rates. During his tenure, he also securitized DC’s tobacco settlement and used the proceeds to reduce the city’s debt level; implemented electronic benefit cards for summer youth payroll; and increased the return of unclaimed property to its rightful owners. Calhoun also established an emergency loan fund for DC businesses affected by Sept. 11; helped establish the University of the District of Columbia’s endowment fund; and launched the DC College Savings Plan.

From 1993 until his current appointment, Calhoun served as deputy executive director and chief financial officer for the Pension Benefit Guaranty Corporation, where he converted the corporation's deficit of $3 billion to a surplus in excess of $9 billion.

Calhoun is a recipient of the Donald L. Scantlebury Memorial Award from the Joint Financial Management Improvement Program, a cooperative undertaking of the US Department of Treasury, the Office of Management and Budget, Government Accounting Office, and the Office of Personnel Management. It is the highest award a financial manager in the federal government can receive.