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August 2008 - NASACT News

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August 2008 - NASACT News Powered By Docstoc
					                                   NASACT news
keeping state fiscal officials informed
                                    Volume 28, Number 8
                                                                                                                 August 2008

NASACT Meets in “Sweet Home Chicago” for 93rd Conference
By Glenda Johnson, Communications Manager                               range of topics of interest to state auditors, state treasurers and
                                                                        state comptrollers and members of their offices. There were 296

N     ASACT’s ninety-third annual conference was held August
      9-13, 2008, in Chicago, Illinois, at the Marriott Magnificent
Mile Hotel on Michigan Avenue.
                                                                        attendees at the conference and 76 guests and youth program
                                                                        participants. PowerPoint presentations from the sessions may
                                                                        be downloaded from NASACT’s Web site at www.nasact.
    The conference began with a number of meetings and special          org/onlineresources/Presentations.html. A complete list of the
events. On Saturday, August 9, some attendees participated              sessions and speakers can be found on page 3 of this newsletter.
in the annual golf scramble, which was held at the Ruffled                   Following the rousing opening ceremonies, the first general
Feathers Golf Club. On Saturday evening, attendees were treated         session, “Leadership Lessons From the Jazz Masters,” continued the
to refreshments after a day of golf or travel at the welcoming          musical theme begun during opening ceremonies. Dr. John Hasse,
hospitality reception. The annual 5K fun run/walk was held              Ph.D., curator of American music at the Smithsonian Institution,
Sunday, August 10, where participants enjoyed unseasonably cool         used live piano interludes to help convey his message that leadership
weather and a spectacular view along the shore of Lake Michigan.        and jazz have a lot in common. He compared legendary big band
Sunday afternoon, NASACT’s Executive Committee met from                 leaders to CEOs of corporations and heads of state government
1:00-4:30 p.m. and the Committee on Accounting, Reporting and           enterprises, saying that the “craft” of leadership is the same
Auditing also met that day. Sunday night, NASACT President Vern         regardless of the industry. His presentation was structured around
Larson, state treasurer of South Dakota, presided over a very special   10 lessons that today’s government leaders can take away from the
President’s Night Reception in the Signature Room on the 95th floor      jazz masters. His advice to NASACT’s conference attendees: listen
of the John Hancock Center.                                             closely, practice, find your own sound, find and nurture great talent,
    On Monday morning, August 11, the conference’s opening              take risks, improvise, innovate, collaborate, and jam.
ceremonies featured several special treats including a color                The first day of the conference ended with a general session
guard procession of the bagpipers and drummers of the Chicago           featuring NASACT’s Illinois hosts who talked about “How to
Police Department’s Emerald Society and a performance by                Attract, Involve and Retain the Next Generation of Leaders.”
the Trinity Academy of Irish Dancers. During the ceremonies,            Mr. Holland moderated the session, and both Mr. Hynes and
attendees were welcomed by President Larson, as well as the             Mr. Giannoulias provided examples from their own experiences
three conference hosts from Illinois: Auditor General William G.        and strategies on how states can balance the intricacies of state
Holland, State Comptroller Daniel W. Hynes, and State Treasurer         politics with the need to attract young, talented employees into
Alexi Giannoulias.                                                      careers in government.
    The conference featured four general sessions and 19
concurrent sessions, with over 52 speakers covering a wide                                    (continued, next page)




                                                                  NASACT Visits the Windy City


                                                                  N     ASACT was graciously welcomed to Chicago by President
                                                                        Vern Larson and the three host state principals. Shown at
                                                                  left: President Larson, Auditor General William G. Holland, State
                                                                  Comptroller Dan Hynes, and State Treasurer Alexi Giannoulias.
                                                                  Over 50 volunteers from the three offices worked to make the
                                                                  2008 NASACT Annual Conference a great success. NASACT
                                                                  acknowledges with great appreciation the hard work of our hosts.




NASACT News − August 2008                                                                                                            page 1
NASACT Annual Conference Recap (continued from page 1)
     Also on Monday, breakout meetings were held to allow the         sound judgement and making ethical decisions for the greater
National Association of State Comptrollers and the National           good. NASACT’s members are in positions of privilege and a
State Auditors Association to conduct brief business meetings.        certain degree of influence, she contended. She implored the
NASACT’s treasurer constituency also met that afternoon. See          audience to adopt a leadership style and philosophy that will
page 11 for a recap of the NASC business meeting. See page 12         serve the greater good.
for a recap of the NSAA business meeting.                                    As customary, the conference ended on Tuesday night
    On Monday night, conference participants attended a               with State Night festivities, including dinner, dancing and the
reception at the world-famous House of Blues, where attendees         presentation of several special awards, including awards for the
were treated to some authentic                                                                        winners of the golf tournament and
Chicago-style blues.                                                                                  5K fun run/walk (see page 18 for a
    On Tuesday morning, the                                                                           list of winners).
conference re-convened with                                                                               NASACT acknowledges with
a session entitled “Financial                                                                         great appreciation the many people
Accounting Foundation: A                                                                              who helped make this conference
Challenging Environment Today                                                                         such a success. Very special thanks
and Tomorrow.” Teresa Polley,                                                                         go to William G. Holland, whose
FAF’s chief operating officer, and                                                                     office served as the lead host
Robert Herz, chair of the Financial                                                                   office, and all his staff. Special
Accounting Standards Board,                                                                           thanks also go to Daniel Hynes and
gave their perspectives on current                                                                    Alexi Giannoulias and members of
challenges, stemming at least in                                                                      their staffs, each of whom donated
part from international standards                                                                     freely of their time and energy
convergence issues, within                                                                            to help make the conference a
the U.S. accounting standards                                                                         success. Carol Clarke from the
environment. Ms. Polley expressed                                                                     Office of the Auditor General
her appreciation to NASACT for                                                                        served as the host state coordinator,
aiding in efforts to re-negotiate        Above: President Vern Larson, SD, addresses                  and Joe Enright, Office of the State
the 1984 structural agreement and        attendees at the conference luncheon on Monday.              Comptroller, and Cynthia DeWitt,
to find a stable source of funding        Below: NASACT’s Executive Committee met on                   Office of the State Treasury, served
for the Governmental Accounting          Sunday afternoon to go over a full agenda.                   as assistant coordinators. Without
Standards Board. She gave an                                                                          their dedication and perseverance,
overview of events from the past                                                                      the conference would not have
year-and-a-half that led to changes                                                                   been possible. Many thanks go
this spring in the structure and                                                                      to the speakers and moderators
governance of the FAF, GASB and                                                                       who helped continue NASACT’s
FASB. She ended on a positive                                                                         tradition of program excellence.
note by giving a brief overview                                                                       Our survey responses continually
of the most recent meetings                                                                           show that members want to learn
between FAF and its government                                                                        from each other by example, so
constituents, which have resulted                                                                     kudos to those who were willing
in general agreement on changes                                                                       to share their experiences and
to the role of NASACT and the                                                                         practical knowledge by giving
Government Finance Officers                                                                            presentations. Without the
Association as electors of the                                                                        knowledge, expertise and financial
FAF government trustees as well                                                                       support of our corporate partners,
as a commitment by the National                                                                       the conference would be truly
Governors Association and the                                                                         lacking−we thank NASACT’s
National Conference of State                                                                          corporate partners for their time
Legislatures to fund the GASB.                                        and continued support. Finally, many thanks go to NASACT’s
    Mr. Herz discussed the interplay between the FAF, FASB and        committee chairs and members. It is their hard work throughout
GASB and gave his analysis of some of the bigger overall market the year that ensures that the organization is addressing
influences that are having an impact on accounting standards           member concerns and working to improve the industry of state
setting in the U.S.                                                   government financial management.
    The final general session on Tuesday afternoon was presented          The next NASACT annual conference will be held in
by Marisa Rivera-Albert, president of Mpowerment Works, LLC. Dearborn, Michigan, August 15-19, 2009. We hope that you can
She gave an inspirational talk about the importance of using          join us there next year!

NASACT News − August 2008                                                                                                         page 2
NASACT Annual Conference Recap

   Download handouts and bios from NASACT’s annual conference at            (GS #2) Future of Government Leaders: How to Attract, Involve
   www.nasact.org/onlineresources/presentations.html. Please note that      and Retain the Next Generation of Leaders
   not all speakers make their presentations available for download. GS =      Alexi Giannoulias, State Treasurer, IL
   general session, CS = concurrent session.                                   Daniel W. Hynes, State Comptroller, IL



   MONDAY, AUGUST 11                                                        TUESDAY, AUGUST 12
   (GS #1) Leadership Lessons From the Jazz Masters                         (GS #3) Financial Accounting Foundation: A Challenging
      John Edward Hasse, Ph.D., Curator of American Music, National         Environment Today and Tomorrow
      Museum of American History, Smithsonian Institution                      Robert H. Herz, Chairman, Financial Accounting Standards Board
                                                                               Teresa S. Polley, Chief Operating Officer, Financial Accounting
   (CS #1) Increasing Transparency in State Government                         Foundation
      Joe Enright, Director of Policy, Office of the Controller, IL
                                                                            (CS #11) GASB Update
      April C.V. Gunn, Director of Data Analysis, Office of the Auditor of
                                                                               Robert H. Attmore, Chair, Governmental Accounting Standards
      Public Accounts, VA
                                                                               Board
      Suzy Whittenton, Director of Fiscal Management, Office of the
                                                                               David R. Bean, Director of Research, Governmental Accounting
      Comptroller of Public Accounts, TX
                                                                               Standards Board
   (CS #2) Integrating Environmental Considerations Into Investment         (CS #12) Economic Report for the States
   Decisions                                                                   Scott D. Pattison, Executive Director, National Association of State
      Jonathan Naimon, Founder and Managing Director, Light Green              Budget Officers
      Advisors                                                                 Robin Prunty, Senior Director, Standard & Poor’s

   (CS #3) Financial Management Issues                                      (CS #13) Improving Performance Auditing and Performance
      Christian Fuellgraf, Director, Grant Thornton, LLP                    Management
      Tom Dale, Director, Grant Thornton, LLP                                  Terry D. Hanson, Senior Manager, Ernst & Young
      Aaron Erickson, Deputy Director, State Accounting, Office of              Chris Cortines, Deputy Director of Performance Audit, Office of the
      Budget and Management, OH                                                State Auditor, WA
      Gila Bronner, President and CEO, The Bronner Group, LLC                  Anne Spray Kinney, Research and Consulting Director,
                                                                               Government Finance Officers Association
   (CS #4) Electronic Receipts/Payments
      Kenyatta A. Chandler, Director, Strategic Market Development,         (CS #14) Electronic Payments II
      Elavon, Inc., a subsidiary of U.S. Bank                                  Darren Muise, Director, Commercial Partnerships, Public Sector,
      Rick Dakin, Co-Founder, President and Senior Security Strategist,        Visa
      Coalfire                                                                  William Pierson, Vice President, Commercial Card Services, PNC
                                                                               Bank
   (CS #5) Working Effectively With Your Legislature                           Dwight L. Steinly, Jr., Accountant 3, PA
      Robert Ortwein, State Relations Officer, Office of the Auditor
      General, MI                                                           (CS #15) Financial Management Issues II
      Robin L. Kelly, Chief of Staff, Office of the State Treasurer, IL         Adam Goldberg, Branch Chief, Financial Integrity and Analysis,
                                                                               U.S. Office of Management and Budget
   (CS #6) Comprehensive OPEB Strategies: Financial and                        Chris M. Zitzow, Senior Vice President, MAXIMUS
   Investment Focus
      Girard Miller, Senior Strategist, Public Financial Management         (CS #16) Transformation and Reporting Initiatives
                                                                               Christina Dorfhuber, Principal, National Public Sector Strategy and
   (CS #7) Statewide Shared Services: Leveraging Technology and                Operations Leader, Deloitte
   Best Practices to Deliver Quality Government Services                       Sharon Minnich, Deputy Secretary for Financial Administration, PA
      William Greer, Vice President, State and Local Sales, SAP                Edward J. Mazur, Senior Advisor, Cherry, Bekaert & Holland

   (CS #8) Using Economic Downturn as a Catalyst for Administra-            (CS #17) Challenges of ERP Implementation
   tive Transformation                                                         Gordon K. Nasta, Managing Director, BearingPoint
       Jeffrey S. Rosengard, Senior Vice President, The Hackett Group          Paula Searle, Associate Commissioner, U.S. Food and Drug
       Mark Howard, Senior Manager, Accenture                                  Administration
       William Kilmartin, Senior Executive, Accenture                          Mitt Salvaggio, President, Salvaggio, Teal & Associates

   (CS #9) Investment and Debt Management/Electronic Payments I             (CS #18) Facing the Tough Issues
      John S. Carter, Director, Global Liquidity and Investments, Citi         Gary Lambert, Vice President, Spend Management Solutions
      Mel Deane, Director, Product Specialist, Citi                            Practice, CGI
      Jason Tiede, Director, Global Prepaid Services, Citi                     Edgar (Ed) Ross, Controller, KY
      Jean Taplett, Vice President, Public Sector Payment Solutions,           Charles “Chick” Steinberg, Senior Vice President, Employee
      MasterCard Worldwide                                                     Benefit Consulting Practice, AON
      Faye Surrette, Public Sector Acceptance, MasterCard Worldwide
                                                                            (CS #19) Information Security Governance: Managing Risk and
   (CS #10) New Frontiers of High-Performance Government                    Access to States’ Critical Assets
      Wayne Bobby, Vice President of Public Sector Industry Solutions,         Lynnette A. Richmann, Partner, IT Advisory Practice, KPMG
      Oracle                                                                   Keith Sams, Compliance Specialist, IBM Tivoli Security
      Aaron Erickson, Deputy Director, State Accounting, Office of              John J. Radford, State Controller, OR
      Budget and Management, OH
                                                                            (GS #4) Exercising Ethical Leadership
                                                                               Marisa Rivera-Albert, President, Mpowerment Works, LLC



NASACT News − August 2008                                                                                                                     page 3
NASACT Announces Audio Conference in September
“Implementing GASB No. 49: A                                                  Recoveries – Examining how potential recoveries from
                                                                              insurers or from other responsible parties can reduce the
Cooperative Effort in New York”                                               measurement of remediation obligations.
                                                                           Join us for this audio conference to hear how one state, New
N     ASACT’s next audio conference is scheduled for Wednesday,
      September 24. It will address the key implementation issues
of GASB Statement No. 49, Accounting and Financial Reporting
                                                                        York, has successfully addressed these implementation issues.
                                                                        Wesley Galloway, GASB project manager, will also discuss the key
for Pollution Remediation Obligations. Issued in November 2006,         implementation issues that he is hearing at GASB. You will also be
Statement No. 49 is effective for financial statements for periods       given an opportunity to ask questions and share experiences during
beginning after December 15, 2007, with measurement of pollution        the last 25 minutes of the audio conference.
remediation liabilities required at the beginning of that period so        This audio conference is sponsored jointly by NASACT, the
that beginning net assets can be restated.                              Association of Government Accountants, and the Association of
   GASB No. 49 is designed to enhance comparability of financial         Local Government Auditors.
statements among governments by requiring all governments to
account for pollution remediation obligations in the same manner,       General Information
including required reporting of pollution remediation obligations       Date: Wednesday, September 24, 2008
that previously may not have been reported. It will also enhance
users’ ability to assess governments’ obligations by requiring more     Time: 2:00-3:50 p.m., Eastern time
timely and complete reporting of obligations as their components        Speakers:
become reasonably estimable. However, for many financial
statement preparers and auditors, this standard is presenting more        Suzette Baker, Assistant Director, Office of the State
implementation issues than originally anticipated.                        Comptroller, Bureau of Financial Reporting (NY)
   Among the key implementation issues that will be discussed are:        Maria Moran, Senior Accountant, Office of the State
                                                                          Comptroller, Bureau of Financial Reporting (NY)
      Assessment – Evaluating the impact of the statement on the          Tim Reilly, Manager, Office of the State Comptroller, Bureau
      state’s remediation environment.                                    of Financial Reporting (NY)
      Outreach – Identifying potential state reporting entities           A representative from KPMG
      and increasing awareness of GASB No. 49 requirements                Wesley Galloway, Project Manager, Governmental Accounting
      and deadlines. Also, identifying state expertise and other          Standards Board
      available resources.
                                                                        CPE: Two credits
      Methodology – Determining the acceptable methods to
      estimate the liability relative to such factors as population     Cost: $249.00 per site (unlimited attendance) if you register on or
      size, which can vary greatly among reporting entities;            before Friday, September 19, 2008, and $299.00 thereafter.
      embedded pollution remediation related costs, which can           To register: Visit www.nasact.org/conferences/events.cfm for
      be difficult to estimate in relation to total project cost; and,   registration information.
      limitations of the current accounting system, which require
      combining information from multiple systems in order to              This audio conference offers something for all government
      calculate the outstanding obligation.                             auditors, financial statement preparers, and financial managers
      Internal control – Determining what internal controls are         who want to know more about GASB No. 49. Please share this
      needed to ensure that obligating events are identified.            opportunity with others in your government interested in this
      Reporting – Determining when remediation outlays may be           topic. If you have any questions, please call NASACT at (859)
      capitalized instead of being reported as liabilities.             276-1147 or e-mail support@nasact.org.




   Register for NSAA’s IT Workshop & Conference, Hotel Cut-Off Date: September 5!

                                                                           Where:     Reno, Nevada
   D    on’t miss this year’s NSAA IT Workshop and
        Conference. The conference will offer topics such as
   data protection practices, virtualization, using Microsoft
                                                                           When:
                                                                           Cost:
                                                                                      October 7-10, 2008
                                                                                      $350 for the conference, $150 for the workshop
   SharePoint, future trends in information technology,                    CPE:      18.5 credits for the conference; 8 credits for the
   the latest in wireless technologies, OWASP Top 10                                  workshop
   vulnerabilities, practical applications in forensics for IS             Hotel:     Eldorado Hotel − $82.99 single/double
   auditors, and much more. The topic for the workshop is                            (cut-off date for this rate is Friday, September 5)
   application security.                                                   Register: www.nasact.org/conferences/events.cfm




NASACT News − August 2008                                                                                                           page 4
Association Notes
NASACT Business Meeting Highlights                                        to states’ various concerns (see related article on page 8). Anyone
                                                                          with input on implementation issues should send concerns
By Glenda Johnson, Communications Manager                                 to Cornelia Chebinou, NASACT’s Washington director, at
                                                                          cchebinou@nasact.org.

N    ASACT held its yearly business meeting at the recent
     annual conference in Chicago, Illinois, on Tuesday, August
12, at 3:45 p.m. President Vern Larson, state treasurer of South
                                                                          Financial Management and Intergovernmental
                                                                          Affairs Committee (FMIAC)
Dakota, presided. Highlights from the meeting are detailed below.
                                                                              Clark Partridge, state comptroller of Arizona and chair of
Complete minutes from the meeting will be made available soon
                                                                          the FMIAC, reported on the committee’s various initiatives,
at www.nasact.org in the Members Only section.
                                                                          one of which has been the three percent withholding initiative.
                                                                          Additionally, FMIAC has been monitoring issues concerning
3% Withholding Update                                                     requirements of the Federal Funding Accountability and
    Sunita Lough, director of Federal, State and Local                    Transparency Act of 2006 (FFATA). FFATA requires that states
Governments, Internal Revenue Service, was in attendance at               and subrecipients of federal funds provide information on
the meeting to give NASACT members an update on issues                    contracts and spending. The manner of that reporting was to
surrounding the Tax Increase Prevention and Reconciliation                be determined in a pilot that was supposed to begin in June but
Act of 2006, which contains a provision that will require state           which has not yet commenced. Subsequently, new legislation
governments and their political subdivisions (with expenditures           has been proposed, S. 3077, the Strengthening Transparency and
of more than $100 million) to withhold three percent on most              Accountability in Federal Spending Act of 2008, which could
payments for property or services. The law is scheduled to be             expand the current legislation even though it has not yet been
effective for expenditures made on or after January 1, 2011.              tested because of delays in the pilot. NASACT solicited input
    The business community and state and local governments are            from members to craft a letter to Congressional leaders asserting
in agreement that implementation of the provision is fraught with         that the proposed legislation needs further clarification and
problems and that repeal is the only sensible solution. Ms. Lough         requesting a delay in the implementation of FFATA requirements.
explained, however, that FSLG must proceed with the assumption                FMIAC has also provided input to the U.S. Office of
that the rule will become effective. She reported that The U.S.           Management and Budget on proposed FFATA guidance and an
Department of Treasury hopes to issue proposed regulations by the         expansion of the existing policy regarding the use of Dun &
end of October. Right now, it is expected that the regulations will       Bradstreet Universal Numbering System (DUNS) numbers for
be very skeletal, since the law does not provide much information         federal awards and contracts. NASACT members have conveyed
on which to build the regulations. She said it is expected that there     problems related to the DUNS system since its inception in 2003;
will be a 60-day comment period once the regulations are released,        a number of concerns were again relayed to OMB.
with the goal of releasing the final regulations at least a year in            Finally, NASACT provided input to the IRS’s Advisory
advance of the implementation date. It is also likely that a hearing      Committee on Tax Exempt and Government Entities regarding
will be held prior to the finalization of the proposed rules.              a current onerous recordkeeping requirement for the treatment
   While Treasury participated in a conference call with several          of employer-provided cell phones. NASACT is encouraging
states regarding implementation issues just last month, officials          members to reach out to their Congressional delegations
there are still very interested in hearing from additional states         regarding pending legislation (H.R. 5450 and S. 2668) to remove
on issues they may have with implementation of the provision;             cell phones from the definition of listed property.
FSLG wants to develop the regulations with at least some regard
                                                                                                (continued, next page)




                                                                NASACT Elects FY 2009 Executive Committee Officers


                                                                A       t the recent NASACT business meeting, association members
                                                                        approved a new slate of officers for FY 2009. Shown left to right,
                                                                William Raftery, former state controller, WI, who administered the oath of
                                                                office; Thomas McTavish, MI, president; Marty Benison, MA, treasurer;
                                                                Nancy Kopp, MD, second vice president; and Glen Gainer, WV, first vice
                                                                president. Not shown: Barb Hinton, KS, secretary. The next meeting of
                                                                NASACT’s Executive Committee will occur in March 2009 in conjunction
                                                                with the 2009 NASC Annual Conference in Denver, Colorado.



NASACT News − August 2008                                                                                                            page 5
Business Meeting Highlights (continued from page 5)
Governmental Accounting Standards and                                  will be issuing an association response to the proposed rule
Market Oversight Committee (GASMO)                                     changes. Your comments for inclusion in NASACT’s response
                                                                       are requested by September 3, 2008.
    Mr. Partridge also served as chair of GASMO. He asked
Kinney Poynter, NASACT’s executive director, to provide                FAF/GASB Selection Task Force
an update on the committee’s recent activities. Mr. Poynter                Mr. Poynter reported that the term of FAF government
reported that an important meeting was held in May between             trustee Doug Ellsworth ends in December 2008. NASACT and
representatives of the Financial Accounting Foundation,                GFOA are currently working with FAF to determine desired
NASACT, the Government Finance Officers Association, the                characteristics for a replacement and will begin the search for a
National Governors Association and the National Council of             nominee to fill the position. Additionally, he reported that there
State Legislatures. At the meeting, all parties agreed in concept      is a current opening on the GASB, as Girard Miller resigned his
to several important items. First, the group agreed that NASACT        position to pursue other interests.
and GFOA will give up their rights as “electors” of the FAF
government trustees. NASACT and GFOA, with input from                  Budget
the Big 7 and other interested parties, will nominate the FAF
government trustees. Authority to elect the trustees will reside          Mr. Poynter gave a brief report on NASACT’s finances.
with the FAF board. Secondly, it was recognized that funding           He reported that NASACT expects to be $257,703 over
the GASB is a responsibility of the states, which have final            budget for FY 2008. This profit is due primarily to successful
authority to set accounting standards for themselves and the           dues collections and revenues associated with the 2007 annual
local governments contained therein. Therefore, NGA and                conference and the Corporate Associates Program. He cautioned
NCSL must take a lead role to work adequate funding for                that FY 2009 will not result in such profits for the association,
GASB into states’ budgets.                                             since the 2008 annual conference is expected to meet but not
   Agreement on these important concepts is now moving                 exceed budgeted revenues as in past years.
forward. It is expected that a memorandum of understanding
will be finalized soon to replace the 1984 structural agreement
                                                                       Leadership Conference Task Force
and FAF is working with the government groups on acceptable                Ernest Almonte, auditor general of Rhode Island and chair
changes to its bylaws to reflect the consensus positions.               of the Leadership Conference Task Force, reported that the task
    Mr. Poynter also reported that on January 31, 2008, the            force has been examining possible formats, timing, costs and
Municipal Securities Rulemaking Board released notice                  topics for a potential leadership conference in 2009. The task
2008-005, MSRB Begins Planning for Continuing Disclosure               force is recommending that the conference be geared towards
Component of the New Electronic Municipal Market Access                new and experienced state auditors, state comptrollers and state
System (EMMA). This system will serve as a centralized Internet-       treasurers and their deputies. The program will tentatively last
based system for real-time public access to all primary market,        two days and will cost approximately $1,500. The tentative
secondary market, and trade price data for municipal securities        timeframe for such a conference is April/May 2009.
submitted to the MSRB. On Wednesday, July 30, 2008, the
Securities and Exchange Commission voted to propose changes            Time and Place Committee
to Rule 15c2-12 designating the MSRB as the sole repository
for ongoing disclosure information through the EMMA system.               Glen Gainer, state auditor of West Virginia and chair of the
The SEC also voted to expose an MSRB notice which would                Time and Place Committee, announced that the 2009 NASACT
designate EMMA as a continuing disclosure service. NASACT                                    (continued, next page)




                                                             Thomas McTavish Elected President of NASACT


                                                             T      homas McTavish, auditor general of Michigan (left), began his term
                                                                    as NASACT’s 99th president on Tuesday, August 12. His first official
                                                             act was to present a plaque of appreciation to Vern Larson (right) in
                                                             recognition of his service to the Association during his year as president.
                                                             President McTavish will be working in the coming weeks to finalize
                                                             NASACT’s committees for the upcoming year and to prioritize issues for
                                                             FY 2009.



NASACT News − August 2008                                                                                                         page 6
NASACT Business Meeting Recap (continued from page 6)
annual conference will be held in Dearborn, Michigan, on            contact him.
August 15-19. The 2010 conference will be held in Charleston,          NASACT is working to upgrade its Web site. This is a project
West Virginia on August 7-11. Nancy Kopp, state treasurer of        that will be ongoing over the next several months.
Maryland, will be NASACT’s president in 2011 and will have the         In FY 2008, NASACT welcomed 17 new members: five state
right of first refusal to host the conference.                       auditors, eight state comptrollers, and three state treasurers.
                                                                       Finally, Mr. Poynter reported that NASACT has a new Web/IT
Resolutions Committee                                               manager, AJ Puryear. AJ joined NASACT’s staff on April 3, 2008.

   Resolutions Committee Chair Thomas McTavish, auditor
general of Michigan, put forth two resolutions for consideration    Nominating Committee
by the membership:                                                     W. Daniel Ebersole, state treasurer of Georgia and chair of
(1) Thanking and commending Vern Larson for his year serving        the Nominating Committee, put forth the following slate of
    as NASACT’s president.                                          Executive Committee officers for FY 2009 for consideration:
(2) Thanking and commending the host state team for planning           President: Thomas H. McTavish, auditor general of Michigan.
    an exceptional annual conference in Chicago, Illinois.             First Vice President: Glen B. Gainer, III, state auditor of West
   A motion was made, seconded and approved unanimously to             Virginia.
accept these two resolutions.                                          Second Vice President: Nancy K. Kopp, state treasurer of
                                                                       Maryland.
Association Report                                                     Secretary: Barbara J. Hinton, legislative post auditor of Kansas.
                                                                       Treasurer: Martin J. Benison, comptroller of Massachusetts.
    Mr. Poynter made several notes about internal association
operations. He reported that NASACT has participated in two            Mr. Ebersole’s motion was seconded and unanimously
GASB hearings recently: on July 14, David McDermott, state          approved. In his first official act as president of NASACT, Mr.
controller of Colorado, testified on behalf of NASACT on Fund        McTavish presented a plaque of appreciation to Mr. Larson for
Balance Reporting and Governmental Fund Type Definitions,            his hard work, dedication and perseverance during his year as
and on July 29, Kim Thomspon, from the Washington Office             NASACT’s president.
of Financial Management, testified on behalf of NASACT on
Service Efforts and Accomplishments, an Amendment of GASB           More Information/Next Meeting
Concepts Statement No. 2.
    He reported that 12 states are currently participating in           The next NASACT business meeting will be held at the
NASACT’s benchmarking program. NASACT is in the process             2009 annual conference on August 18 in Dearborn, Michigan.
of renegotiating its contract with The Hackett Group for the        Complete minutes from this business meeting will be posted soon
program. He encouraged any states interested in participating to    in the Members Only section at www.nasact.org.




NSAA to Hold November Business
Meeting in Crystal City, Virginia                                       Committee Information
                                                                        The following committees are tentatively scheduled to
T    he National State Auditors Association will hold a business
     meeting on November 20-21, in Crystal City, Virginia, at the
Doubletree Hotel. The business meeting will be held in conjunc-
                                                                        meet on November 20. Agendas and meeting times will
                                                                        be provided as they become available.
tion with the National Intergovernmental Audit Forum scheduled             Audit Standards and Reporting
for November 19.                                                           Auditor Training
    NSAA’s committees will meet on Thursday, November 20                   E-Government
and will be followed on November 21 by a business meeting,                 Executive
which is tentatively scheduled to conclude by 1:00 p.m. that day.          Human Resources
    Hotel reservations may be made by calling the Doubletree               Peer Review
at (703) 416-4100 and referencing the National State Auditors              Performance Audit
                                                                           Single Audit
Association. The room rate is $201/single. The cut-off date to
receive this rate is October 20, 2008.                                  For more information contact Sherri Rowland, NSAA
    Mark your calendar now for this meeting! Registration and           association director, at srowland@nasact.org.
committee meeting agendas/information will be available soon
on NASACT’s Web site at www.nasact.org.


NASACT News − August 2008                                                                                                       page 7
News From Washington
Treasury and NASACT Discuss                                            many states still undertake a manual process to conduct back-
                                                                       up withholding. While Treasury thought that some of the larger
Proposal on Implementing the                                           software providers such as Oracle/Peoplesoft were currently
3% Withholding Requirement                                             considering amendments to their programs to accommodate the
                                                                       impending implementation, it was apparent that several states
                                                                       will have issues with system modification, as several are still
S   everal NASACT members and representatives from the
    United States Treasury recently participated in a conference
call to discuss issues surrounding the implementation of Section
                                                                       operating under out-of-date legacy systems.
                                                                           Treasury is gathering information on current reporting
                                                                       processes with the goal of issuing a proposed regulation prior to
511 of the Tax Increase Prevention and Reconciliation Act of
                                                                       Thanksgiving. A hearing will likely follow the issuance of the
2005, which will require state governments and their political
                                                                       proposal. (See the article on page 5 for more information on this
subdivisions (with expenditures of more than $100 million) to
                                                                       topic.)
withhold three percent on most payments for property or services.
                                                                           NASACT and other concerned state and local groups continue
The law is scheduled to be effective for expenditures made on or
                                                                       to seek a repeal of the onerous requirement and will distribute
after January 1, 2011. Treasury is seeking information on current
                                                                       the proposed implementation guidance for comment as soon as it
state systems and how states undertake 1099 reporting.
                                                                       becomes available.
    Many issues arose during the call including the fact that


   Help Repeal TIPRA Section 511!

   States recognize that the three percent withholding requirement contained within Section 511 of the Tax Increase Prevention and
   Reconciliation Act of 2005 is an onerous, unfunded mandate on states. Write to your state’s Congressional leaders today to urge
   repeal of this provision, which will be very difficult, if not impossible for some states to implement. Download a template letter for
   this purpose from NASACT’s home page at www.nasact.org (look in the What’s New section).




SEC/MSRB Proposes Rule Change                                              “...requires the broker, dealer, or municipal securities
                                                                          dealer to reasonably determine that the issuer or obligated
to Designate EMMA as the Sole                                             person has agreed: (1) to provide the information covered
Repository for Ongoing Disclosure                                         by the written agreement to the MSRB, instead of to
                                                                          multiple NRMSIRs and SIDs, as the rule currently
                                                                          provides, and (2) to provide such information in an
O     n July 30, 2008, the Securities and Exchange Commission
      voted to propose changes to Rule 15c2-12 (on disclosure)
designating the Municipal Securities Rulemaking Board (MSRB)
                                                                          electronic format and accompanied by identifying
                                                                          information as prescribed by the MSRB.”
as the sole repository for ongoing disclosure information              The referenced MSRB notice would establish EMMA as a
through MSRB’s Electronic Municipal Market Access System            continuing disclosure service for accepting the submission of
(EMMA). The SEC also voted to expose an MSRB notice which           continuing disclosure documents prescribed by SEC’s Rule 15c2-
would designate EMMA as a                                                                           12. The documents would have
continuing disclosure service.                                                                      to be submitted electronically
    NASACT and other                   Provide Your Input                                           through password protected
state and local government             Send your comments on the SEC’s proposed changes to          accounts in a word-searchable
associations support the               Kinney Poynter at kpoynter@nasact.org by Wednesday,          PDF format. Electronic
development of a centralized           September 3, 2008                                            submission would be either
system for the electronic                                                                           through a Web-based interface
collection and availability of                                                                      or an electronic computer-to-
information on outstanding municipal securities, particularly as    computer connection. The issuer, obligated person or designated
a response to SEC Chairman Christopher Cox’s call for the need      agent could make the submission.
for increased disclosure in the municipal market.                      NASACT distributed an e-mail to members on August 4
    The proposed amendments to Rule 15c2-12 delete references       requesting comment on the proposals. The SEC’s deadline for
to the Nationally Recognized Municipal Securities Information       receiving comments is September 22, 2008, and the deadline for
Repositories, or NRMSIRs, and the State Information                 forwarding comments for inclusion in NASACT’s association
Depositories, or SIDs, and replace those references with the        response is September 3, 2008. Questions or comments should
MSRB. In summary, the proposal:                                     be forwarded to Kinney Poynter at kpoynter@nasact.org.


NASACT News − August 2008                                                                                                          page 8
News From Washington / Association Notes
NASACT, Government Groups Urge                                         The letter further states that requiring the reporting of MVL is
                                                                       inappropriate for governments and is inconsistent with the nature
Academy of Actuaries Not To                                            and purpose of public retirement systems.
Endorse MVL Disclosure                                                     Specifically, the letter points out that MVL disclosure would
                                                                       be harmful because (1) it could lead to the disclosure of plan
                                                                       costs and liabilities that do not accurately represent the dynamics

N     ine national organizations including NASACT filed a
      joint letter and statement with the American Academy of
Actuaries opposing the reporting of public pension plan liabilities
                                                                       of governmental plans, and are therefore unnecessarily high; (2) it
                                                                       could lead to the application of investment approaches that would
                                                                       unnecessarily limit the asset allocation and investment returns
at so-called “market value,” often referred to as market value         that can be earned by plans; and (3) it would create confusion
liability, or MVL.                                                     among decision-makers, taxpayers, and the media about the
    Proponents of financial economics theory argue that public          funded levels of public pension plans, potentially leading to their
pension plans should operate in a manner similar to private sector     disuse or abandonment.
pension plans by calculating and disclosing the “market value”             NASACT Executive Committee members W. Daniel Ebersole,
of their liabilities. The joint letter states “serious concerns with   state treasurer of Georgia, and Nancy Kopp, state treasurer of
mandating that governmental pension plans report their financial        Maryland, have both indicated their interest in testifying at an
condition as if they were able to be immediately terminated.”          Academy public hearing on the matter in early September.



NASACT Welcomes New Executive                                          Accountants, and the Virginia Government Finance Officers’
                                                                       Association. He serves on the Executive Committee of the
Committee Members                                                      National State Auditors Association.
                                                                          He is the 2005 recipient of AGA’s William R. Snodgrass

T   hree new members joined NASACT’s Executive Committee
    following the NASACT business meeting on August 12:
                                                                       Distinguished Leadership Award and the 2007 recipient of the
                                                                       Outstanding Certified Public Accountants in State Government
                                                                       from the American Institute of Certified Public Accountants.
                        Martin J. Benison has been comptroller         The Virginia Society of Certified Public Accountants recently
                        of the commonwealth of Massachusetts           recognized his 30 years of service to the society.
                        since 1999. He is a past president of the         A certified public accountant, Mr. Kucharski holds a bachelor
                        National Association of State Comptrollers     of business administration degree from Ohio University.
                        and has previously served on NASACT’s
                        Executive Committee. He is a public                                    D. Clark Partridge has been with the
                        member of the Professional Ethics                                      state of Arizona for 19 years, serving
                        Executive Committee of the American                                    as a supervisor and manager in the
                        Institute of Certified Public Accounts.                                 General Accounting Office, the CFO for
                        He also serves on Suffolk University’s                                 the Department of Commerce, deputy
Accounting Business Advisory Board, and is the former chair of the                             state comptroller, and currently as state
Customer Advisory Board for the United State Treasury’s ASAP                                   comptroller.
payment system. He is a certified government financial manager and                                    Mr. Partridge is a member of the
is a member of the Government Finance Officers Association and the                              Government Finance Officers Association
Association of Government Accountants.                                                         and the Association of Government
       Mr. Benison holds a B.A. in economics from Boston               Accountants. He is currently serving on several committees
College and a master’s degree in public administration from            including serving as secretary/treasurer of the National
Harvard University’s John F. Kennedy School of Government.             Association of State Comptrollers. He has been a volunteer with
                                                                       the March of Dimes for over 30 years, serving on the board in
                        Walter J. Kucharski has been the               both Utah and Arizona. He attended Brigham Young University
                        auditor of public accounts for the             on a leadership scholarship, graduating with a bachelor of science
                        commonwealth of Virginia since                 degree in accounting. He is a certified public accountant and
                        November 1984. He had been deputy              certified government financial manager.
                        auditor for the previous two years, and
                        joined the staff at the Auditor of Public        Three state treasurers will also be named to NASACT’s
                        Accounts in January 1977.                      Executive Committee soon; they will be selected by the National
                            Mr. Kucharski is a member of               Association of State Treasurers. Rolling off the Executive
                        a variety of financial management               Committee on August 12 were Paul Carlson, state accounting
                        organizations, including the National          administrator, Nebraska; Bruce Myers, legislative auditor,
State Auditors Association, Association of Government                  Maryland; and Jan Sylvis, chief of accounts, Tennessee.

NASACT News − August 2008                                                                                                        page 9
News From Around the Nation / Association Notes
                        McCoy is Named                                   He received his J.D. from the University of North Carolina
                                                                      School of Law, his M.P.H. from the University of North Carolina
                        State Comptroller                             School of Public Health, and his M.Ed. and bachelor of science
                        in North Carolina                             degrees from the University of Georgia. He participated in
                                                                      executive training at Harvard University’s John F. Kennedy
                                                                      School of Government, The Council of State Government’s Toll

                        D       avid T. McCoy was nominated by
                                North Carolina Governor Michael
                           Easley and confirmed by the state’s
                                                                      Fellows’ Program, and the Center for Creative Leadership.
                                                                         Mr. McCoy has participated as a member of the National
                                                                      Association of State Budget Officers’ Executive Committee,
                           general assembly to serve as North         North Carolina Federal Tax Reform Allocation Committee, North
                           Carolina’s next state controller. His      Carolina Economic Investment Committee, North Carolina Debt
seven-year appointment is effective September 2. Mr. McCoy            Affordability Advisory Committee, North Carolina Council of
replaces Robert Powell, whose term ends Friday, August 29.            Internal Auditing, and has served as president of the Southern
    Mr. McCoy previously served as director of the Office of State     Association of Highway and Transportation Officials and
Budget and Management and as secretary of the North Carolina          on the Board of the American Association of Highway and
Council of State. He also previously served as North Carolina’s       Transportation Officials.
secretary of transportation.                                             He is admitted to practice in the North Carolina General
    Before joining the Department of Transportation, he was           Courts of Justice and the United States District Courts for the
Governor James B. Hunt’s deputy chief of staff. Mr. McCoy             Eastern and Middle Districts of North Carolina.
also served as the chief deputy secretary of administration and          Mr. McCoy was awarded the Order of the Long Leaf
as the department’s general counsel. During his career in state       Pine for public service and was selected by the Council of
government, he has worked for three different governors crossing      State Governments as a Henry Toll Fellow. He has been
political parties.                                                    recognized by the University of North Carolina at Chapel Hill
    Before joining state government, Mr. McCoy was on the faculty     as a Distinguished Graduate School Alumnus, is a member of
and staff at the University of North Carolina at Chapel Hill. Since   UNC’s Order of the Golden Fleece, and was the recipient of the
1985, he has continued to serve as an adjunct assistant professor     American Legion’s School Award.
teaching various courses and providing community service.



Griffin Appointed State Accounting                                    as a senior accountant with Deloitte Haskins & Sells.
                                                                         Jarnice L. Anderson, who has served as interim state
Officer in Georgia                                                    accounting officer since April 2008, has been named deputy
                                                                      director of the State Accounting Office. Ms. Anderson joined

G    reg Griffin has been appointed as Georgia’s state
     accounting officer effective August 18. Mr. Griffin
enjoyed an almost 25-year career with the AT&T organization
                                                                      the State Accounting Office in the summer of 2007 as director
                                                                      of financial systems. She has extensive experience in financial
                                                                      information systems assessment, business process optimization,
and its BellSouth and Cingular Wireless affiliates. During             internal control assessment, and information security. She is
his career with AT&T, he held various director positions in           a graduate of North Carolina A&T State University, and was
accounting policy and financial reporting, benefits finance              most recently with BellSouth Corporation where she served as
and corporate accounting and benefit plan operations. He is a          director of IT audit.
graduate of Auburn University and worked earlier in his career



                        NASACT Welcomes                               NASACT, AJ worked for Diversified Recovery of Central Texas,
                                                                      where he served as operations manager/IT administrator.
                        AJ Puryear, IT and                               He has a bachelor of science degree in telecommunications
                        Web Manager                                   with an emphasis in network management from the University of
                                                                      Kentucky.
                                                                         As NASACT’s IT/Web manager, AJ is responsible for

                        N    ASACT is pleased to introduce
                             Adrian (AJ) Puryear, the association’s
                        IT and Web manager. AJ joined NASACT
                                                                      overseeing maintenance, repairs and upgrades to NASACT’s
                                                                      computer network. Additionally, he is responsible for managing
                                                                      NASACT’s Web site, coordinating technical logistics for audio
                        on April 3, 2008.                             and other conferences, and making improvements to NASACT’s
   AJ is experienced with a range of programming languages and        data management systems. AJ can be reached at NASACT at
software platforms as well as advanced desktop, workstation,          (859) 276-1147 or apuryear@nasact.org.
terminal and server diagnostic and repair. Prior to joining

NASACT News − August 2008                                                                                                   page 10
Association Notes
State Comptrollers Plan New                                             other intangible assets, such as easements and water, mineral and
                                                                        timber rights will also be addressed. Statement No. 51 is effective
Information Sharing Groups and                                          for fiscal year 2010, but beginning balances will be needed at the
Restructure Revenues                                                    start of FY 2010 (i.e., July 1, 2009, for most states).
                                                                            John Reidhead, director of Utah’s Division of Finance and co-
                                                                        chair of the Committee on Shared Practices (CSP), reported that
By Pat O’Connor, Association Director
                                                                        the members of the committee are very pleased with the extent
                                                                        of information sharing that goes on in NASC’s four information
A     t their business meeting on August 11, 2008, the members
      of the National Association of State Comptrollers heard
reports from the association’s committees, planned some new
                                                                        sharing groups, the OPEB Implementation Network, the Statement
                                                                        51 Work Group and the Multi-State Consortium on Internal Control.
technical activities and agreed to increases in the registration        While there have been very few submissions to the Comptrollers
fee for NASC’s annual conference and in the annual fee for the          Shared Practices Forum on NASACT’s Web site, clearly there
Comptrollers’ Technical Services Program, effective for FY 2010.        is much information being shared in other ways. He encouraged
   President Kim Garnero, director of Alaska’s Division of              submissions of projects, practices, etc., for publication in the
Finance, opened the meeting by introducing the members of the           Members Only section of the Web site, noting that the topic for the
Executive Committee and by recognizing several new members              last two quarters of 2008 is transparency. (Submissions about any
who were attending their first NASACT annual conference as               topic related to comptrollers’ operations are always welcome.) The
state comptroller:                                                      CSP will also explore the possibility of establishing a transparency
                                                                        information sharing group, which would have an anticipated life
   Steve Censky, state controller, Wisconsin.                           span of one-to-two years.
   Anna Maria Kiehl, chief accounting officer, Pennsylvania.                 In the absence of both co-chairs of the Multi-State Consortium
   David McCoy, state controller, North Carolina.                       (MSC) on Internal Control, Steve Funck, deputy comptroller,
   David McDermott, state controller, Colorado.                         Oklahoma, informed the members that the MSC has published
   Kent Olson, director, Division of Accounts and Reports, Kansas.      on NASACT’s Web site a final version of the Internal Control
   Sadie Rodriguez Hawkins, senior assistant director, Office of         Guidebook as well as a draft of the payables section of the IC
   Financial Management, Washington.                                    questionnaire. The group is presently working on the cash and
                                                                        payroll sections of the questionnaire and will post drafts in the next
Strategic Committees                                                    month or so.
    Mr. McDermott, chair of the Committee on Accounting and                 Marty Benison, comptroller, Massachusetts, informed the
Financial Reporting, reported that the members of the CAFR had          group about activities of AGA’s Partnership for Intergovernmental
worked on letters of comment about two exposure drafts from the         Management and Accountability, of which he is a co-chair. The
Governmental Accounting Standards Board, one on fund balance            partnership is working on two projects, improper payments and
reporting and one amending the concepts statement about service         cost allocation (Circular A-87). Regarding A-87, there are specific
effort and accomplishments reporting. He added that sometimes           concerns about intangible assets, subrecipient monitoring and
there are questions about the content of NASACT’s letter–whether        consistency among the various regions. He added that the National
it should reflect a total consensus or whether some issues raised by a   Association of State Chief Information Officers is very concerned
minority of members should be included. In the case of the response     about the ability of states to recover IT costs under A-87.
to the ED about fund balance reporting, a combination approach
                                                                        Administrative Committees
was used.
    Eric Berman, deputy comptroller, Massachusetts, chair of the            Kim Wallin, state controller of Nevada and chair of the
OPEB Implementation Network, reported that the group’s quarterly        Committee on Outreach, thanked those members who are serving as
conference calls continue to be well attended. There were guest         mentors to new members. The committee will work on a reception
speakers at the meetings in April and July, and Karl Johnson and        for new members at NASC’s annual conference in Annapolis in
Michelle Czerkawski of the GASB staff are also in attendance to         March 2009.
field questions from the group. As states complete implementation            Calvin McKelvogue, chief operating officer of Iowa’s State
of the new OPEB standards in their FY 2008 financial statements,         Accounting Enterprise, vice president of NASC, and co-chair of
the network will no longer be needed. There has been discussion         the Task Force to Examine Revenues, reported that the task force
about establishing a Derivatives Implementation Network to assist       had been organized last March in the wake of the association’s
members with implementing GASB Statement No. 53, Accounting             approval of a FY 2009 financial plan which showed a $52,000
and Financial Reporting for Derivative Instruments. Mr. Berman          deficit. The task force looked at NASC’s results of operations
has agreed to chair the new derivatives group.                          for the past several years. For FY 2008, the projection of
    In the absence of Herb Maguire, Pennsylvania, chair of the          NASC’s operations shows a deficit of about $8,000, even with an
Statement 51 Work Group, Ms. Garnero reported that the group            exceptional amount of revenue coming from the benchmarking
has held two conference calls and that half of the states have          project. The task force found that NASC’s main sources of
members participating in the group. Discussion has centered on          revenue have not been raised recently. The registration
issues related to identifying and classifying software costs, but                              (continued, next page)

NASACT News − August 2008                                                                                                           page 11
Association Notes
NSAA Business Meeting Highlights                                        Conference as well as funds to provide full scholarships for new
                                                                        state auditors to attend the 2009 NSAA Annual Conference.
By Glenda Johnson, Communications Manager                                   In the absence of the Peer Review Committee Chair, Ms.
                                                                        Rowland reported that the committee recently completed an

T   he National State Auditors Association held a business
    meeting on Monday, August 11, in Chicago, Illinois.
President Russell Hinton, state auditor of Georgia, presided.
                                                                        extensive update to the Peer Review Manual. The committee
                                                                        is now preparing to do further updates and will review changes
                                                                        to the AICPA’s program to see if further changes to NSAA’s
Highlights from the meeting are detailed below. Complete                program are warranted; NSAA has traditionally modeled its
minutes from the meeting will be made available soon at www.            program after the AICPA’s.
nasact.org in the Members Only section.                                     Debbie Davenport, auditor general, Arizona, and chair of
                                                                        the Resolutions Committee, put forth three resolutions for
Committee Reports                                                       consideration by the membership:
    Randy Roberts, professional practice director, Arizona, and chair      Thanking Bruce Myers, legislative auditor of Maryland, for
of the Audit Standards and Reporting Committee, reported that              his service during his year as NSAA president.
the committee participated in response letters to several standards        Thanking and commending Bruce Myers and his staff for
setters, two from the Governmental Accounting Standards Board              an excellent annual conference in Baltimore, Maryland, in
and four from the American Institute of Certified Public Accountants.       June 2008.
The committee expects additional exposure drafts to be coming soon         Recognizing Richard Fair, former state auditor of New Jersey,
from GASB and AICPA which will require input from members.                 for his service to the association and wishing him well in his
    In the absence of the chair or vice chair of the Auditor               retirement.
Training Committee, Tom Marks, deputy auditor general,
Pennsylvania, reported that the NASACT Training Forum will be           These resolutions were unanimously adopted by the association.
held in Pittsburgh, Pennsylvania, on September 8-10. He invited            President Hinton reported that the 2009 NSAA Annual
everyone to send appropriate staff from their offices to attend.         Conference will be held in Savannah, Georgia, June 16-19. The
    Mr. Marks, chair of the Performance Audit Committee,                2010 conference will be held in Scottsdale, Arizona.
reported that the committee is considering developing a document
that summarizes changes to standards that deal specifically with         Other Business
performance audit. The committee will be meeting by conference
call to discuss this and other initiatives for the coming year.            President Hinton reported that NSAA will hold a business
    In the absence of the E-Government Committee chair,                 meeting on November 20-21 in Crystal City, Virginia, in
President Hinton reported that the committee has been                   conjunction with the National Intergovernmental Audit Forum
busy planning the upcoming NSAA 2008 IT Workshop and                    meeting. NSAA’s committees will meet on November 20 and
Conference, which will be held in Reno, Nevada, October 7-10.           there will be a half-day business meeting on November 21.
He encouraged those present to send their IT staff to this very
worthwhile conference.                                                  More Information
    Sherri Rowland, NSAA’s association director, reported that             Complete minutes from this meeting will be posted to
the Auditor’s Education Foundation Committee is currently               NASACT’s Web site in the Members Only section soon.
accepting scholarship applications for the IT workshop and              Questions about the NSAA business meeting or the association’s
conference. Additionally, the committee will hold aside funds to        activities may be directed to Sherri Rowland, NSAA association
provide several scholarships for the 2009 Middle Management             director, at srowland@nasact.org.



NASC Business Meeting Recap                                             these two fees; the change will be effective in FY 2010.
(continued from page 11)                                                   Donna Jones state controller of Idaho and chair of the Site
                                                                        Committee, reported that after considering several options for
fee for the annual conference has been $250 since at least 1998,        identifying sites for NASC’s annual conferences in 2010 and 2011,
and the fee for the Comptrollers’ Technical Services Program was        the committee recommended to the Executive Committee that
last raised in 2002. The task force recommended and NASC’s              the person who will be president of NASC in each of those years
Executive Committee approved the following increases:                   be offered first refusal to host the conference in his home state.
   An increase of $50 in the registration fee for NASC’s annual         The Executive Committee agreed with the recommendation and
   conference (from $250 to $300).                                      accordingly invitations to host the conference have been extended to
   An increase of $500 in the annual fee for the Comptrollers’          Mr. McKelvogue for 2010 and to Clark Partridge (AZ) for 2011.
   Technical Services Program (from $1,500 to $2,000).                     Questions about any of NASC’s activities or requests to
                                                                        join NASC’s committees or information sharing groups may be
   The members voted unanimously to adopt the increases in              addressed to Pat O’Connor at poconnor@nasact.org.

NASACT News − August 2008                                                                                                          page 12
Calendar of Events Register for these events at www.nasact.org.
2008
September 8-10   NASACT Training Forum, Pittsburgh, PA
                                                                                                    NASACT News
September 24   Audio Conference: “Implementing GASB No. 49:
               A Cooperative Effort in New York”
                                                                                                   AUGUST 2008
October 7-10   NSAA IT Workshop and Conference, Reno, NV
November 20-21    NSAA Business Meeting, Crystal City, VA                                          R. Kinney Poynter
                                                                                                   Executive Director
2009
                                                                                                 Cornelia Chebinou
March 25-27   NASC Annual Conference, Annapolis, MD
                                                                                               Washington Office Director
April 20-22 NSAA/NASC Joint Middle Management Conference, Nashville, TN
June 16-19 NSAA Annual Conference, Savannah, GA                                                    Glenda Johnson
August 15-19 NASACT Annual Conference, Dearborn, MI                                             Communications Manager
September 29-October 2       NSAA IT Workshop and Conference, Harrisburg, PA
                                                                                             National Association of State
                                                                                                Auditors, Comptrollers
                                                                                                   and Treasurers

                                                                                                  Headquarters Office
                                                                                           449 Lewis Hargett Circle, Suite 290
NASACT 2008 Annual Conference a Huge                                                           Lexington, KY 40503-3590
                                                                                           P (859) 276-1147, F (859) 278-0507
Success! By Donna Maloy, Conference Manager
                                                                                                   Washington Office
                                                                                           444 N. Capitol Street, NW, Suite 234
T   he success of this year’s annual conference would not have been possible without
    the capable leadership of the host state volunteers. Illinois’ Auditor General
William G. Holland, State Treasurer Alexi Giannoulias, and State Comptroller Daniel
                                                                                                 Washington, DC 20001
                                                                                           P (202) 624-5451, F (202) 624-5473
W. Hynes, and their staffs, worked very hard for months to plan and prepare for this
                                                                                                        Online
conference. Special thanks go to Carol Clarke, Cynthia Dewitt and Joe Enright, host                  www.nasact.org
coordinators of the conference. Their professionalism and amazing organizational skills
were evident in every aspect of this conference.
   We would also be remiss if we didn’t recognize NASACT’s FY 2009 Corporate                       NASACT Officers
Associates. Their financial support and technical expertise were invaluable.
   Mark your calendars for the NASACT 2009 Annual Conference, scheduled for                      Thomas H. McTavish
August 15-19, 2009. The conference will take place at the elegant Ritz-Carlton Hotel                    President
                                                                                                Auditor General, Michigan
located in Dearborn, Michigan – just 13 miles from Detroit Metropolitan Wayne
County Airport. The conference will feature a full roster of technical sessions and                Glen B. Gainer, III
provide a sampling of the diversity and excitement of Dearborn and Detroit.                        First Vice President
   Thanks again to all the Chicago conference volunteers, and we’ll see everyone next          State Auditor, West Virginia
year in Dearborn!
                                                                                                     Nancy K. Kopp
                                                                                                 Second Vice President
                                                                                                State Treasurer, Maryland
   NASACT thanks its             Silver                      Bronze (continued)
   FY 2009 Corporate             Accenture                   Coalfire
                                                                                                    Barbara J. Hinton
   Associates for their          Bronner Group               Electronic Knowledge
                                 Deloitte                     Interchange (EKI)                          Secretary
   support, at the confer-                                                                   Legislative Post Auditor, Kansas
                                 Grant Thornton LLP          Ernst & Young LLP
   ence and throughout           The Hackett Group           MAXIMUS
   the year.                     IBM                         NACHA                                Martin J. Benison
                                 KPMG LLP                    PNC Bank                                  Treasurer
   Platinum                      Master Card                 Salvaggio, Teal and               Comptroller, Massachusetts
   CGI                           US Bank                      Associates
   Oracle                        VISA                        Standard & Poor’s
                                                                                             The next issue of NASACT News
   Gold                          Bronze                                                    will be published in September 2008.
   BearingPoint                  AON                                                        To submit articles, photos or ideas,
   SAP                           Bank of America                                          contact Glenda Johnson by September
   Citi                          Bank of New York Mellon                                       12 at gjohnson@nasact.org or
                                 Cherry, Bekaert & Holland                                        phone at (859) 276-1147.



NASACT News − August 2008                                                                                                 page 13
NASACT Annual Conference Recap




Carol Clarke, Belinda Alvarez, Leslie Riegel Cully, and Lisa    Joe Enright, from the Illinois Office of the State Comptroller
Leonard, all from the Illinois’ Office of the Auditor General,   (center, with the bullhorn) provides instructions to 5K fun run/
sport the easy-to-spot turquiose volunteer shirts.              walk participants on Sunday morning.




Conference attendees enjoy the view at the Sunday night         Jim Schlouch (Illinois), Tom Barnickel, (Maryland), and Margarita
reception on the 95th floor of the John Hancock Center in the    Fernandez (California), catch up at the Sunday night President’s
Signature Room.                                                 Reception at the John Hancock Center.




The Chicago Police Department’s Emerald Society served as       Conference host William G. Holland (far right) introduced
the Color Guard during the opening ceremonies of the annual     dancers from the Trinity Academy of Irish Dance during the
conference.                                                     opening ceremonies.

NASACT News − August 2008                                                                                               page 14
NASACT Annual Conference Recap




President Vern Larson (left) awarded a President’s Award to           Mike Fitzgerald, state auditor of Iowa (left), holds a plaque
William G. Holland during the Monday conference luncheon.             recognizing him as a 2008 President’s Award recipient.




Bruce Myers, legislative auditor of Maryland (left), receives a       President Larson also recognized Clark Partridge, state
plaque recognizing him as a 2008 President’s Award recipient.         comptroller of Arizona (right), with a President’s Award.




President Larson presented Pat O’Connor, association director,        Donna Maloy, NASACT’s conference manager, received a
with a pewter platter from the association, recognizing her 18-year   plaque during the Monday luncheon recognizing 2008 as her
career with NASACT and her upcoming retirement next spring.           20th year of service with the association.

NASACT News − August 2008                                                                                                     page 15
NASACT Annual Conference Recap




Left to right: Host state principals William G. Holland, Daniel          Ed Ross, controller of Kentucky, participated as a concurrent
Hynes and Alexi Giannoulias spoke during a general session               session speaker.
about “The Future of Government Leaders.”




Sadie Rodriguez Hawkins (Washington) introduced Marisa Rivera-           Left to right: April Gunn (Virginia), Suzy Whittenton (Texas),
Albert (right), the closing general session speaker of the conference.   and Joe Enright (Illinois) share information about their states’
                                                                         transparency initiatives during a concurrent session.




Robert Ortwein (Michigan) and Robin Kelly (Illinois) were intro-         Left to right: Sherri Rowland (NASACT), Randy Roberts (Arizona),
duced by Tom McTavish (Michigan), NASACT’s incoming president,           Robert Attmore (GASB) and David Bean (GASB) in a meeting of
during a concurrent session about dealing with state legislatures.       the Committee on Accounting, Reporting and Auditing.

NASACT News − August 2008                                                                                                        page 16
NASACT Annual Conference Recap




Conference attendees get into the spirit of the State Night       Thomas McTavish (at podium) drew names for prizes to
activities on Tuesday, which featured a “Blues Brothers” theme.   promote the 2009 annual conference in Dearborn, Michigan.




Stephanie Roach, host state coordinator of the 2009 NASACT        Brenda Vincent (Michigan) is presented with a medal for taking
annual conference, and Suzanne Kinney, both from Michigan.        second place in the 5K women’s running category.




William G. Holland presented an award to Kim Wallin, state        Left to right: The second place golf team, John Kunzeman
controller of Nevada, for her second place showing in the 5K      (Illinois), Karen Hoppe (Nevada), Kim Wallin (Nevada), and
women’s walking category.                                         Terry Hanson (Ernst & Young) (Joe Enright, Illinois, at podium).

NASACT News − August 2008                                                                                                page 17
NASACT Annual Conference Recap




Golfers cheer on their teammate during the annual golf                 Left to right: Winners of the first place golf team, Robert
scramble on Saturday.                                                  Ortwein (Michigan), Scott Strong (Michigan), John Carter
                                                                       (Citi) and Tyler Covey (MGT Americas).




William G. Holland awards a medal to Bill Heavner                      William G. Holland awards Stephanie Roach (Michigan) a
(Pennsylvania), the first-place winner in the 5K male walker            medal for coming in third in the 5K female runner category.
category.


                                                      Female Walkers                     Male Walkers
        5K Fun Run/Walk Winners                       1st − Barb Hinton                  1st − Bill Heavner
                                                      2nd − Kim Wallin                   2nd − Jim Schlouch
                                                      3rd − Karen Hoppe                  3rd − Ken Welch

                                                      Female Runners                     Male Runners
                                                      1st − Lauren Russell               1st − Bill Cole
                                                      2nd − Brenda Vincent               2nd − Ray Hunthausen
                                                      3rd − Stephanie Roach              3rd − Kinney Poynter




        Golf Tournament Winners                       1st Place − Robert Ortwein, Tyler Covey, John Carter and Scott Strong
                                                      2nd Place − Kim Wallin, Karen Hoppe, Terry Hanson, John Kunzeman
                                                      3rd Place − Ken Baumann, Frank Bilecki, Joe Butcher and Joe Enright




NASACT News − August 2008                                                                                                     page 18

				
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