NEWS RELEASE 10/02/12

GASB Chairman Robert H. Attmore to Retire in June 2013

Norwalk, CT, October 2, 2012—Robert H. Attmore, chairman of the Governmental Accounting Standards Board (GASB), will retire in June 2013, the Board of Trustees of the Financial Accounting Foundation (FAF) announced today. A former auditor and deputy comptroller for New York State, Mr. Attmore has served as GASB chairman since July 2004.

"On behalf of the Board of Trustees and, more importantly, taxpayers, municipal bond investors, and state and local government officials across the country, I want to offer my sincere thanks to Bob for nine years of thoughtful and dedicated leadership of the GASB," said John J. Brennan, chairman of the FAF Board of Trustees.

"During Bob´s tenure, the GASB has tackled such important — and difficult — accounting issues as pensions and other retirement benefits, derivatives, municipal bankruptcies, and fund balance reporting with professionalism and a regard for the concerns of every affected party. I look forward to continuing to work with Bob until next year, when he begins his well-deserved retirement," Mr. Brennan added.

"Serving as the GASB chair has been a distinct honor, particularly as we’ve worked through some key areas of financial reporting in the public sector," Mr. Attmore said. "After balancing the GASB´s accomplishments and the ongoing work of the Board with my desire to devote more time to my family in the Albany, New York area, I made the decision to retire next year. While the GASB continues to have important work underway, the next nine months will provide adequate time for us to ensure a smooth transition to new leadership."

Mr. Attmore was appointed to serve as the chairman of the GASB effective July 1, 2004. On July 1, 2009, he began serving a second and final five-year term as chairman. Prior to joining the GASB, Mr. Attmore worked for New York State for more than 23 years, serving as deputy state comptroller and state auditor from 1986 until 2003.

Mr. Attmore also has served as president of the National State Auditors Association and has held leadership positions with the Association of Government Accountants, the National Association of State Auditors, Comptrollers and Treasurers, and other professional organizations. He is a graduate of Villanova University and is a CPA and a Certified Government Financial Manager.

Mr. Brennan said the FAF will begin a search for Mr. Attmore’s successor soon.


About the Financial Accounting Foundation

The FAF is responsible for the oversight, administration, and finances of both the Governmental Accounting Standards Board and its counterpart for the private sector, the Financial Accounting Standards Board. The FAF also is responsible for selecting the members of both Boards and their respective Advisory Councils.

About the Governmental Accounting Standards Board

The 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.