NEWS RELEASE 12/03/08

W. Daniel Ebersole Named to Second Term as Chairman of the Governmental Accounting Standards Advisory Council

Seven new members, three re-appointed members also announced

Norwalk, CT, December 3, 2008—The Financial Accounting Foundation (FAF) Board of Trustees has reappointed W. Daniel Ebersole to a two-year term as chairman of the Governmental Accounting Standards Advisory Council (GASAC) beginning on January 1, 2009. In addition, the FAF announced the appointment of seven new members to the GASAC and re-appointed three current members. The GASAC provides input to the Governmental Accounting Standards Board (GASB), the independent, not-for-profit organization that establishes the accounting and financial reporting standards used by state and local governments in the United States.

In his role as chairman throughout 2008, Mr. Ebersole has presided at meetings of the GASAC-a diverse, 30-member advisory group consisting of public sector financial statement preparers, auditors, and users of government financial reports. The GASAC provides input to the GASB on its mission to provide decision-useful information for investors and other users of financial reports. Mr. Ebersole is responsible for implementing and directing the broad operating processes of the GASAC and for guiding discussion at the GASAC meetings to assure the effective and timely communication of the comments and views of the GASAC's members to the GASB.

Mr. Ebersole is the Director of the state of Georgia's Office of Treasury and Fiscal Services and oversees the receipt, investment, accounting, and disbursement of the state's general, trust, and custodial funds and certain federal funds. Nominated to the GASAC by the Council of State Governments, he is a past president of the National Association of State Treasurers, which honored him with its Jesse M. Unruh Award in 2003. He is also a past president and current member of the Executive Committee of the National Association of State Auditors, Comptrollers and Treasurers, and a member of the Finance, International, and Strategic Planning Committees of the Council of State Governments.

"During the past year, Dan Ebersole's expert leadership of the GASAC helped the council to provide consistently helpful insights, fulfilling its key advisory role in the standard-setting process," said Robert H. Attmore, chairman of the GASB. "His professional experience in public sector finance and his ability to skillfully facilitate meetings have enabled Dan to make invaluable contributions as GASAC chairman, and the GASB looks forward to working with him over the next two years."

In addition, the FAF announced the appointment of seven new GASAC members, who will begin two-year terms on January 1, 2009. The seven new members are:

  • Lisa Blumerman, chief, governments division, U.S. Census Bureau, representing the U.S. Census Bureau

  • Shirley Broz, executive director of finance, Rockwood School District, Eureka, Missouri, representing the Association of School Business Officials International

  • Cline Comer, partner, Larson Allen LLP, representing the Healthcare Financial Management Association

  • Karl Jacob, senior director, Public Finance, Standard & Poor's, representing bond raters

  • Terrill Menzel, partner, KPMG, LLP, representing the American Institute of Certified Public Accountants

  • John Overdorff, shareholder, Greenberg Traurig, LLP, representing the National Association of Bond Lawyers

  • Steven Thompson, city manager, Marco Island, Florida, representing the International City/County Management Association.

The FAF also approved the reappointment of the following GASAC members for two-year terms covering 2009 and 2010:

  • Ryan Claw, treasurer, Tohono O'odham Nation, representing the Native American Finance Officers Association

  • Debra Davenport, auditor general, State of Arizona, representing the National Association of State Auditors, Comptrollers and Treasurers

  • Michael Zaroogian, investment officer, State Farm Insurance, representing insurance industry investors.


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 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.