NEWS RELEASE 02/12/02

Sharon Russell, AGA Representative to the GASB’s Governmental Accounting Standards Advisory Council


Norwalk, CT, February 12, 2002—Sharon Russell, CGFM, the Director of Research and Professional Development for the Alabama Department of Examiners of Public Accounts was appointed to replace outgoing Association of Government Accountants (AGA) member Jon Wise on the Governmental Accounting Standards Advisory Council (GASAC). The GASAC provides counsel on technical projects, priorities and accounting issues to the GASB.

As the GASB continues to provide guidance for governments implementing Statement 34 and considers such critical issues as reporting on the cost of healthcare and other postemployment benefits (OPEB), investment risks and environmental liabilities, it is important that the AGA be well represented on the GASAC. GASB Chairman, Tom Allen, expressed appreciation for the excellent input that Jon Wise from Michigan has provided to the GASB in the past four years and stated that the Board was pleased to have someone of Sharon Russell’s caliber join the GASAC.

At the GASAC’s next meeting in May, the GASB will seek input on its OPEB and Deposit and Investment Risks projects before they are exposed for public comment. Sharon’s e-mail address is Sharon.Russell@Examiners.State.AL.US and her telephone number is (334) 242-9200. She welcomes feedback from AGA members on GASB projects. More details on the GASB technical agenda and guidance on Statement 34 implementation is provided on the GASB’s website at www.gasb.org.


About the Government Accounting Standards Board
and the Financial Accounting Foundation

Formed in 1984, the GASB is the independent, not-for-profit organization 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. The Financial Accounting Foundation is responsible for funding, overseeing and selecting the members of the GASB and the Financial Accounting Standards Board (FASB). More information about the work of the GASB is available on its website at www.gasb.org.

Governmental Accounting Standards Board (GASB)...

Improving governmental accountability through better financial reporting.