Technical Accounting Review Committee (TARC)

Monitors and comments on activities and rulings of the Governmental Accounting Standards Board (GASB). The committee provides testimony on GASB standards and educates the IGFOA membership on those standards.


  1. Betsy Allen Betsy Allen, Member Miller Cooper & Co., Ltd
  2. Jason Coyle Jason Coyle, Member Baker Tilly Virchow Krause, LLP, Partner
  3. Thomas Dahl Thomas Dahl, Member Village of Roselle, Finance Director
  4. Krisztina Dommer Krisztina Dommer, Member Sikich LLP
  5. Jim Egeberg Jim Egeberg, Member PACE Suburban Bus Div RTA, Section Manager, Debt Management
  6. Fred Lantz Fred Lantz, Member Sikich LLP, Partner in Charge, Government Services
  7. Joe Lightcap Joe Lightcap, Member Baker Tilly Virchow Krause, LLP, Senior Manager
  8. Nick Mostardo Nick Mostardo, Member Village of Winnetka, Assistant Finance Director
  9. Mark Nannini Mark Nannini, Member Illinois Municipal Retirement Fund, Chief Financial Officer
  10. Kay Nees Kay Nees, Member City of Champaign, City Accountant/Financial Services Manager
  11. Barbara Ramsay Barbara Ramsay, Member Champaign County, Chief Deputy Auditor/Accounting Manager
  12. James R Savio James R Savio, Member Sikich LLP, Partner
  13. Jim Splitt Jim Splitt, Member Illinois Municipal Retirement Fund, Financial Analyst
  14. Scott C Termine Scott C Termine, Member BKD LLP, Partner
  15. Christine Torres Christine Torres, Member Crowe Horwath LLP
  16. Rita A Trainor Rita A Trainor, Member Wheaton Park District, Finance Director
  17. Laurel Warren Laurel Warren, Member Village of Hoffman Estates
  18. Jamie Wilkey Jamie Wilkey, Member Lauterbach & Amen, LLP, Partner
  19. Christina Coyle Christina Coyle, Chairperson Village of Glen Ellyn, Finance Director
  20. Bill Hannah Bill Hannah, Board Liaison Village of North Aurora, Finance Director
  21. Diane Gillian Lantz Diane Gillian Lantz, Staff Illinois Government Finance Officers Association, IGFOA Executive Director
  22. Ruth Limpers Ruth Limpers, Staff Illinois Government Finance Officers Association, Association Manager

A New Financial Reporting Model for Governmental Funds

TARC RESOURCES FOR IMPLEMENTING GASB STATEMENTS

IGFOA Response to GASB Exposure Drafts:

Exposure Draft on Certain Asset Retirement Obligations
Response to Exposure Draft on Certain Asset Retirement Obligations

Exposure Draft on Fiduciary Activities
• Response to Exposure Draft on Fiduciary Activities

The Implementation Guide
• 
Response to Exposure Draft on Implementation Guide

The Financial Reporting Entity

Codification of Accounting and Financial Reporting Guidance

Pension Accounting and Financial Reporting

Hierarchy of Generally Accepted Accounting Principles for State and Local Governments

Codification of Accounting and Financial Reporting Guidance

Fund Balance Reporting and Governmental Fund Type Definition

Service Efforts and Accomplishments Reporting

Endowment Funds—Accounting and Reporting for Land and Other Real Property Held as Investments

Pension Disclosure: GASB 25 & 27 Amendment

GASB Links:

What's New at the GASB Web site
Summary and Status of GASB Statements and Interpretations
GASB 45 OPEB Fact Sheet
GASB Exposure Document

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SAS 112 Resources

Understanding SAS 112 from AICPA
Impact of SAS 112 on Governmental Financial Audits Conference Call

Auditor Relationship

With the collapse of Enron and the federal indictments of numerous CEOs, the public and the media have taken an increased interest in the relationship between organizations and their auditors. Congress took action by passing the Sarbanes-Oxley Act, which attempts to ensure greater auditor independence and oversight. While the act only applies to the private sector, the public sector needs to take notice of the important auditor relationship issues. The IGFOA, through the TARC committee, has been examining issues of auditor selection, rotation, and independence in an attempt to provide members with valuable resources.

Guide to Selecting an Auditor

IGFOA surveyed Finance Directors and City Managers regarding Auditor Rotation issues. View the results of the Auditor Relationship Survey:

IMET Liquidating Trust Treatment

TARC Recommends Accounting Treatment for PPRT Revenue Misallocation

DuPage Water Commission Refund

TARC Accounting Review Committee Comments On:

Meeting Reports

February 25, 2010 meeting report

2009 Committee Report

July 17, 2009 meeting report

April 17, 2009 meeting report

October 17, 2008 meeting report

Technical Accounting Review Committee Report of Activity October 2007-July 2008

April 22 , 2008 meeting report

If you feel strongly about any of the issues TARC is currently examining or would like to present a new issue, please Contact the Committee Chair

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