THE WHITE HOUSE
Office of the Press Secretary
PRESIDENT CLINTON NAMES DONALD RAPPAPORT TO BE CHIEF FINANCIAL OFFICER OF THE DEPARTMENT OF EDUCATION
The President announced today his intent to nominate Donald Rappaport to be Chief Financial Officer of the Department of Education.
Donald Rappaport of Philadelphia, Pennsylvania and the District of Columbia, earned his auditing and financial management credentials during nearly four decades with Price Waterhouse, rising to Partner and to Director of one of the firm's national services groups. While serving as an Audit Partner in Philadelphia, he handled private accounts including the Scott Paper Company and the Campbell Soup Company. In the public sector, he oversaw the first program budgeting and reporting system for a school district, serving as deputy superintendent for administration and finance for the Philadelphia School District. He also worked with school systems in Detroit, Portland, Oakland and Washington, DC. Since his retirement from Price Waterhouse, Mr. Rappaport has served as President of two registered mutual funds as well as a management consulting firm, serving private business and the GAO. Throughout his career, Mr. Rappaport has been involved in numerous civic activities. He chaired the Pennsylvania State Board of Education, the National Committee for Citizens in Education, and was a member of the Governor's Commission on Basic Education in Pennsylvania. He is presently the first Vice President of the Citizens Association of Georgetown. Mr. Rappaport received his B.A. from Yale University, a masters degree in economics and an M.B.A. in accounting from the University of Pennsylvania.
The Chief Financial Officer (CFO) reports directly to the Secretary of Education and is responsible for Department's financial management. The CFO also provides guidance and oversight for grants, procurement activities and technical assistance for student financial aid programs.