NEWS RELEASE 11/19/09 

The Financial Accounting Foundation Appoints Marcia L. Taylor to a Second Term with the Governmental Accounting Standards Board

Norwalk, CT, November 19, 2009—The Financial Accounting Foundation (FAF) today announced that Marcia L. Taylor, CPA, has been appointed to a second five-year term as a member of the Governmental Accounting Standards Board (GASB) beginning July 1, 2010. The re-appointment was made by the FAF Board of Trustees, which oversees the activities of the GASB and the Financial Accounting Standards Board (FASB).

Appointed to her first term with the GASB on July 1, 2005, Ms. Taylor has served as the Assistant Manager of Mt. Lebanon, Pennsylvania since 1990. Previously, she was the town’s director of finance and worked on the audit staff of a national accounting firm. A certified government finance manager, she is a member of the American Institute of Certified Public Accountants, the Pennsylvania Institute of Certified Public Accountants, the International City/County Management Association, the Government Financial Officers Association, and other professional organizations. She earned a Masters degree in Public Management from the H. John Heinz School of Public Policy at Carnegie-Mellon University in Pittsburgh, and a BSBA in Accounting from Bucknell University in Lewisburg, Pennsylvania.

FAF President Teresa S. Polley said, “On behalf of the FAF Board of Trustees, I am pleased to announce that Marcia Taylor has been named to a second term with the GASB. Her informed insights, coupled with her experience in municipal government finance, will continue to benefit the GASB in accomplishing its mission to develop high-quality standards that result in sound financial reporting by state and local governments.”

Added Robert H. Attmore, Chairman of the GASB, “Marcia’s knowledge and experience in municipal government finance as well as governmental accounting and financial reporting have been a valuable asset to the GASB as it deliberates some of the most challenging issues in standard-setting for state and local governments, and we look forward to benefiting from her continuing contributions during her second term.”

Ms. Taylor’s new five year term extends until June 30, 2015.

About the Financial Accounting Foundation
The FAF is responsible for the oversight, administration, and finances of both the Financial Accounting Standards Board (FASB) and its counterpart for state and local government, the Governmental Accounting Standards Board (GASB). The Foundation is also responsible for selecting the members of both Boards and their respective Advisory Councils.

About the Governmental Accounting Standards Board
The GASB is the independent, not-for-profit organization formed in 1984 that establishes and improves financial accounting and reporting standards for state and local governments. Its members are drawn from the Board's diverse constituency, including preparers and auditors of government financial statements, users of those statements, and members of the academic community. More information about the GASB can be found at its website www.gasb.org.