FINANCIAL ACCOUNTING FOUNDATION NAMES JAN SYLVIS VICE CHAIR OF GOVERNMENTAL ACCOUNTING STANDARDS BOARD
Norwalk, CT, November 19, 2014—Jan I. Sylvis, a current
member of the Governmental Accounting Standard Board (GASB), has been
named GASB vice chair. The appointment was announced today by the Board
of Trustees of the Financial Accounting Foundation (FAF), which oversees
the GASB and its sister organization, the Financial Accounting
Standards Board (FASB).
Ms. Sylvis’ appointment is effective January 1, 2015. In her new role,
Ms. Sylvis will serve the Board on a half-time basis. (The GASB chair
position is full-time, while other Board members spend approximately a
third of their time on GASB matters.) Ms. Sylvis currently serves as
chief of accounts for the Department of Finance and Administration for
the state of Tennessee.
The position of GASB vice chair was created early in the GASB’s history,
but was later retired. In response to increasing demands on the time of
the GASB chair, the FAF Trustees decided to reinstate the position, in
part because of a strategic focus on expanding outreach to stakeholders.
Recent outreach has focused on GASB’s new pension standards and a
proposed standard for Other Postemployment Benefits (OPEB).
“Jan is ideally suited to fill the new role of vice chair at this
important time in the GASB’s history,” said FAF Board of Trustees
Chairman Jeffrey J. Diermeier. “As a long-time Board member with a
background in preparing financial statements, Jan brings deep experience
and a big-picture perspective to her new role. The combination of her
technical expertise and extensive involvement with a wide range of state
and local government stakeholders will make her an exceptionally able
vice chair.”
Ms. Sylvis began her first term on the part-time Board on July 1, 2007.
She was reappointed to a second, five-year term on the GASB on July 1,
2012.
As chief of accounts in Tennessee, Ms. Sylvis in effect serves as the
state’s controller. Among other activities, she is responsible for
maintaining the state’s centralized accounting records, processing state
payments and payroll, preparing the state’s financial statements, and
developing state accounting policy.
Ms. Sylvis is a past president of the National Association of State
Auditors, Comptrollers and Treasurers (NASACT) and a past president of
the National Association of State Comptrollers (NASC). Ms. Sylvis earned
her bachelor’s degree from the University of Memphis. She is a
certified public accountant and a certified government financial
manager.
“Over the last few years, the Trustees have observed the increasing
demands on the GASB chairman, which prompted their decision to reinstate
the role of vice chair,” said FAF President and Chief Executive Officer
Teresa S. Polley. “In that role, Jan will assist GASB Chair David Vaudt
in representing the GASB in its interactions with our wide range of
external stakeholders, a critically important focus for our
organization.”
“I’m very pleased to welcome Jan to her new role as vice chair of the
GASB,” said GASB Chair Vaudt. “With Jan’s deep knowledge of and
experience in accounting issues, all of us at the GASB know she will
continue to be a tremendous asset to the organization in her new role.”
About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and finances
of both the Financial Accounting Standards Board (FASB) and its
counterpart for state and local government, the Governmental Accounting
Standards Board (GASB). The Foundation is also 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 range of stakeholder groups, 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.