FINANCIAL ACCOUNTING FOUNDATION NAMES SIX NEW MEMBERS TO THE GOVERNMENTAL
ACCOUNTING STANDARDS ADVISORY COUNCILNorwalk, CT, November 25,
2013—The Board of Trustees of the Financial Accounting Foundation (FAF)
today announced the appointment of six new members to the Governmental
Accounting Standards Advisory Council (GASAC). The new members will serve
two-year terms beginning January 1, 2014. The GASAC is responsible for advising
the Governmental Accounting Standards Board (GASB) on technical issues, project
priorities, and other matters that affect standards setting for accounting and
financial reporting by state and local governments.
In addition to the
six newest members, the FAF Trustees re-appointed Martin J. Benison as GASAC
chairman, a position he has held since 2011. The FAF also announced that the
Association of Financial Guaranty Insurers (AFGI) was added to the GASAC as a
Members of the GASAC are chosen from a cross-section
of the GASB´s state and local government stakeholders, including users,
preparers, and auditors of financial information. GASAC members are selected on
the basis of their professional expertise and the depth and variety of
experience they bring to their work on the Council.
The following is a
list of the newly-appointed members and the constituent organizations that
to the new appointees, the FAF reappointed eight current members of the GASAC to
two-year terms. Six GASAC members—Eric Berman, Vance Holloman, Pat Robertson,
Odd Stalebrink, Gary VanLandingham, and Mindy Willis—will complete their service
at the end of December 2013.
- Sandra Moorman, Controller, Sacramento Municipal Utility
District, representing the American Public Power Association
- Daniel Smith, Assistant Professor of Public Budgeting and
Financial Management, Robert Wagner School, New York University, representing
the Association for Budgeting and Financial Management
- Barbara Flickinger, Managing Director, Portfolio
Surveillance, National Public Finance Guarantee Corporation, representing the
Association of Financial Guaranty Insurers
- Lealan Miller, Director, Government Services, Eide
Bailly, representing the Association of Government Accountants
- Robert Schultze, Director, Virginia Retirement System,
representing the National Association of State Retirement Administrators
- Stephen Klein, Director, Vermont Joint Fiscal Office,
representing the National Conference of State Legislatures.
"We are very pleased to welcome Sandra,
Daniel, Barbara, Leelan, Robert, and Stephen to the GASAC," said Mr. Benison.
"Having the benefit of their broad and diverse experience in public sector
financial reporting will be of great value in providing the GASB with the
feedback needed to achieve its goal of continually improving accounting
standards used by state and local governments. We also express our gratitude to
Eric, Vance, Pat, Odd, Gary, and Mindy for their outstanding contributions to
"The FAF is proud to welcome our new GASAC members," added
FAF President and Chief Executive Officer Teresa S. Polley. "Each of these
individuals has shown a strong commitment for working toward well-informed
decision making in public sector financial reporting. We are fully confident
that they will provide valuable insights and important perspectives to the GASAC
and the Board.
"We also are delighted to announce that Marty Benison will
continue in his role as GASAC chair," continued Ms. Polley. "As leader of the
GASAC since 2011, Marty has skillfully managed and facilitated a full schedule
of meetings that have generated valuable input for the GASB in its mission to
improve financial reporting of state and local governments."
About the Financial Accounting Foundation
The FAF is
responsible for the oversight, administration, and finances of both the
Governmental Accounting Standards Board (GASB) and the Financial Accounting
Standards Board (FASB). The Foundation is also responsible for selecting the
members of both Boards and their respective Advisory Councils.
About the Governmental Accounting Standards Board
GASB is the independent, not-for-profit organization formed in 1984 that
establishes and improves financial accounting and reporting standards for state
and local governments. Its seven members are drawn from the Board´s diverse
constituency, including preparers and auditors of government financial
statements, users of those statements, and members of the academic community.
More information about the GASB can be found at its website, www.gasb.org.