Financial Reporting Model Task Force FormedGASB Chairman David A. Vaudt recently announced the appointment of a task force to assist with the Board’s project reexamining Statement No. 34, Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments and related pronouncements on the financial reporting model. The members of the task force are:
- Douglas Benton, Vice President/Senior Municipal Credit Manager, Cavanal Hill Investment Management
- Eric Berman, Partner, Eide Bailly
- David Bullock, Partner, Macias, Gini & O’Connell
- Michael Calvert, Director, Legislative Fiscal Office, State of Nebraska
- Tom Canby, Associate Executive Director for Governmental Relations, Texas Association of School Business Officers
- Richard Ciccarone, President and Chief Executive Officer, Merritt Research Services
- Harriet Commons, Retired Finance Director, City of Fremont, California
- Frank Crawford, Partner, Crawford & Associates
- Joni Davis, Accounting Manager, Nebraska Public Power District
- Susan Friend, Director, Accounting Division, Broward County, Florida
- Stephen Gauthier, Director, Technical Services Center, Government Finance Officers Association
- Elizabeth (Betsy) Hill, Chief Executive Officer, Bright Bay Advisors
- Lacey Horn, Treasurer, Cherokee Nation
- Amy Laskey, Managing Director, Fitch Ratings
- Michelle Mark Levine, Deputy Comptroller for Accounting, Office of the New York City Comptroller
- Justin Marlowe, Endowed Professor of Public Finance and Civic Engagement, University of Washington
- Christopher Mier, Managing Director, Loop Capital Markets, LLC
- Jacqueline Reck, Professor of Accounting, School of Accountancy, University of South Florida
- Doug Ringler, Auditor General, State of Michigan
- Paul Rotzenburg, Director of Finance/Treasurer, City of Franklin, Wisconsin
- George Scott, Retired Partner, Deloitte
- Alan Skelton, State Accounting Officer, State of Georgia
- Stephen Stuart, Senior Analyst, Bureau of Governmental Research, New Orleans
- Charles Tegen, Associate Vice President for Finance, Clemson University
What Do Task Forces Do?
The GASB assembles task forces for most major projects. Task forces serve as a sounding board, providing suggestions and feedback to the GASB as a project progresses. As part of this process, task force members monitor the Board’s deliberations, commenting as appropriate, and review drafts of due process documents and final pronouncements that the GASB staff prepares for Board review.
How Are Participants Selected?
Task forces are officially appointed by the GASB chairman after consultation with the other GASB members, the Governmental Accounting Standards Advisory Council (GASAC) chairman, and GASB staff.
Task force members typically have a particular expertise or experience with the issue being addressed in the project and also are capable of articulating the views of other, similar constituents. They can identify possible implementation difficulties, assess the potential cost of proposed standards, or provide input on the usefulness of the information that will result from those standards.
Task force members primarily are identified from the GASB’s database of stakeholders, including persons who have indicated a willingness to volunteer for a task force. The GASB attempts to maintain an appropriate balance of financial statement preparers, auditors, and users on each task force. Within each group, the GASB seeks to include a variety of types of stakeholders, such as finance officers from state governments, localities, and business-type activities; auditors in government and private practice; and users from the municipal bond industry, citizen and taxpayer groups, legislative bodies, and the academic community. The GASB also tries to balance other factors that may be relevant, such as governments of various sizes and geographic areas of the country.