FINANCIAL ACCOUNTING FOUNDATION NAMES SIX NEW MEMBERS TO THE GOVERNMENTAL ACCOUNTING STANDARDS ADVISORY COUNCIL
Norwalk, CT, November 25, 2014—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, 2015, and are eligible to be reappointed for up to
two additional consecutive terms.
The GASAC is responsible for advising the Governmental Accounting
Standards Board (GASB) on technical issues, project priorities, and
other matters that affect standard setting for accounting and financial
reporting by state and local governments.
Members of the GASAC represent 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 nominated them:
- Mark Pepera, Chief Financial Officer, Westlake City Schools, Ohio, representing the Association of School Business Officials International
- Bernhard Fischer, Director—Public Finance, Fitch Ratings, representing bond rating agencies
- Brian Green, Partner, Seim Johnson LLP, representing the Healthcare Financial Management Association
- Shirley Hughes, Finance Director and Chief
Financial Officer, Boulder City, Nevada, representing the International
City/County Management Association
- Wayne Gerhold, Owner, Law Offices of Wayne D. Gerhold, representing the National Association of Bond Lawyers
- Demetria Hanna, Branch Chief—Economic Statistical Methods Division, U.S. Bureau of the Census, representing the Bureau of the Census
In addition to the new appointees, the FAF reappointed eight current
members of the GASAC to two-year terms. Six GASAC members—Lisa
Blumerman, Shirley Broz, Cline Comer, Karl Jacob, John Overdorff, and
Steven Thompson—will complete their service at the end of December 2014.
"The FAF and the GASB are pleased to welcome our new GASAC members, and
look forward to their input on important standard-setting issues facing
state and local governments," stated FAF President and CEO Teresa S.
Polley. "We also thank the six GASAC members who will complete their
terms for their commitment of time and resources to helping us improve
financial reporting for all of our stakeholders."
About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and finances
of both the Financial Accounting Standards Board and its counterpart for
state and local government, the Governmental 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.