Attached for your information is the CSMFO's "Exposure Draft" on implementing GASB
Statement No. 34. While recognizing that the new reporting model has a number of
major problems, it recommends that CSMFO members implement it, and that the CSMFO
should begin developing ways of helping them to do so.
In order to provide members with an opportunity to review and comment on this draft
before its adoption, the Board will not approve a final position until its meeting on
February 29, 2000 following the annual seminar in Pasadena.
The "Exposure Draft" is based on the recommendation of a "Statement No. 34 Task
Force." Before making its recommendation to the Board, the Task Force prepared three
"white papers" on position options. The approach recommended by a majority of the
Task Force members is reflected in the "Exposure Draft." However, there were two
"minority reports," and these are also attached for your review in considering the
"Exposure Draft."
The Board is genuinely interested in your thoughts on the "Exposure Draft." If you
have any questions or comments, please contact Derek Hanway, Financial Services
Director, City of Burbank, Post Office Box 6459, Burbank, CA, 91510, (818) 238-5500,
[EMAIL PROTECTED] Or contact any Board member before or during the annual
seminar. Or reply to me via email. Whatever is easiest for you!
Bill
Bill Statler, Director of Finance
City of San Luis Obispo
990 Palm Street
San Luis Obispo, CA 93405
Phone: (805) 781-7125
Fax: (805) 781-7401
Email: [EMAIL PROTECTED]
Exposure Draft.doc
Minority Opinions.doc
