NEWS RELEASE 01/17/07

GASB to Hold User Roundtable and Public Hearing on Fund Balance Reporting and Governmental Fund Type Definitions

Norwalk, CT, January 17, 2007—In line with its commitment to open and rigorous due process, the Governmental Accounting Standards Board (GASB) will hold a roundtable exclusively for external financial statement users and a public hearing to obtain information about the issues discussed in the Invitation to Comment (ITC), Fund Balance Reporting and Governmental Fund Type Definitions.

The user roundtable is scheduled for February 1, 2007, at New York University’s Robert F. Wagner School of Public Service, The Puck Building, 295 Lafayette Street, 2nd floor, New York, New York, beginning at 9:00 a.m. The roundtable is an open discussion of the issues posed in the ITC and is intended for municipal bond analysts, citizen and taxpayers groups, legislators and legislative staff, and other external users of governmental financial statements. Individuals or organizations that want to participate in the user roundtable should contact Ragan Vincent (rpvincent@gasb.org or 203-956-5372) by January 26, 2007, to express interest in participating.

The public hearing is scheduled for February 2, 2007, at the LaGuardia Crowne Plaza, 104-04 Ditmars Blvd., East Elmhurst, New York, beginning at 9:00 a.m. Individuals or organizations that want to make an oral presentation at the public hearing should notify the GASB by January 19, 2007, and provide a copy of written comments addressing the issues discussed in the ITC in advance. The notification and written comments should be addressed to the Director of Research and Technical Activities, Project No. 3-18I, at the email or postal addresses below. Those not wishing to participate in the public hearing are welcome to attend as observers.

Individuals or organizations that want to provide written comments but do not intend to participate in the public hearing or user roundtable should provide those comments to the GASB by January 31, 2007. Written comments may be submitted through an Internet-based form. Alternatively, comments may be addressed to the Director of Research and Technical Activities, Project No. 3-18I, and emailed to director@gasb.org or mailed to the address below. 

The ITC is available to download free from the GASB’s website at www.gasb.org.

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.