Madison - Mayor Dave Cieslewicz today named Gerald Pace as the new City Treasurer. The City Treasurer is responsible for managing the city's assets, including the City and the Madison Metropolitan School District's $400 million investment portfolio. Pace was formerly the Chief Financial Officer for the Department of Revenue.

"Gerald Pace brings a wealth of experience to this critical position," said Mayor Cieslewicz. "He is extremely well-prepared to serve our community as the individual responsible for wisely managing and investing city resources. I look forward to him putting his talents to work for City of Madison residents."

Prior to his work for the Department of Revenue, Pace served as Chief Financial Officer for the Cleveland Municipal School District where he oversaw $1.2 billion in assets and a $600 million annual budget. His experience also includes work as an Asset Manager for the U.S. Department of Housing and Urban Development.

Pace holds a B.S. in Finance from Jackson State University, a M.S. in Finance from the University of Illinois at Urbana-Champaign, and a law degree from the University of Wisconsin-Madison.

"It will be an honor to serve the residents of the City of Madison," said Pace. "I look forward to working with the Mayor and staff in making Madison the 'Most Progressive City in America.'"

The City Treasurer's office manages cash and investment assets for the city, prepares the city's tax roll, oversees property tax collections and supervises disbursement of all city funds. It is one of three city agencies that formerly comprised the city's Department of Revenue, along with the Assessor and City Clerk's offices.

Pending Common Council approval of his nomination, Pace is expected to begin work as City Treasurer on December 3, 2007.