FINANCIAL REPORTING UNDER GASB STATEMENT NO. 34 AND ASBO INTERNATIONAL CERTIFICATE OF EXCELLENCE IN FINANCIAL REPORTING

Prepared in response to ASBO International members' requests for help preparing financial statements under the Governmental Accounting Standards Board's Statement No. 34, this guide provides a wealth of information about new requirements for accounting and reporting. The guide outlines the sections of a Comprehensive Annual Finance Report (CAFR) under GASB Statement No. 34 and offers specific examples of financial statements and other applicable financial information included in actual CAFRs prepared by school systems. The appendix includes two CAFRs prepared for the same school system: one prepared using the old reporting model and one prepared using the new reporting model. The book is an invaluable tool for school systems that are preparing CAFRs for submission to ASBO International for a Certificate of Excellence in Financial Reporting.

Gary Heinfeld, CPA, CGFM is the managing partner in the firm of Heinfeld, Meech & Co., P.C. The firm's offices are located in Tucson and Phoenix, Arizona. Gary's 28 years of experience have been devoted exclusively to government accounting, auditing, and financial management, as a State auditor for the office of the Auditor General for 11 years and as managing partner for Heinfeld, Meech & Co., P.C. the past 17 years.

Gary received a BS in Accounting from the University of Arizona. He is a member of the Association of School Business Officials (ASBO) International Certificate of Excellence (COE) in Financial Reporting Committee, the COE Self-Evaluation Worksheet Task Force, and ASBO International Accounting, Auditing and Budget Committee. He also serves as a chairperson on COE Panel Reviews and serves on the ASBO International Eagle Awards Selection Panel. He is also a member of the Government Finance Officers Association, serving on the special review committee for the Certificate of Achievement in Financial Reporting Program. Gary is a member of several professional organizations including the American Institute of Certified Public Accountants (AICPA), the Arizona Society of Certified Public Accountants (ASCPA), the Association of School Business Officials International (ASBO), the Arizona Association of School Business Officials (AASBO), the Government Finance Officers Association (GFOA), and the Association of Government Accountants (AGA).