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<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">Good morning,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">As was first noted in March, the acronym associated with the Comprehensive Annual Financial Report will no longer be used, and one key step to aid this important
effort is to change the name of the report, which the GASB has done through the Exposure Draft, which is linked below. The proposed name, the Annual Comprehensive Financial Report, and its inevitable acronym will be ACFR, pronounced “Ack-Fur”.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">If you have any comments on this exposure draft, please let me know by Friday, June 11.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">Thanks,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D">Rob<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;font-family:"Arial",sans-serif;color:#1F497D"><o:p> </o:p></span></p>
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<p class="MsoNormal"><b>From:</b> O'Ryan, Kim <koryan@nasact.org> <br>
<b>Sent:</b> Tuesday, April 13, 2021 9:09 AM<br>
<b>To:</b> NSAAAuditors <NSAAAuditors@nasact.org>; NASCComptrollers <NASCComptrollers@nasact.org>; StateTreasurers <StateTreasurers@nasact.org>; NASACTCARA <NASACTCARA@nasact.org>; NASCCFRA <NASCCFRA@nasact.org>; NSAA2021AuditStandards&ReportingCommittee <NSAA2021AuditStandards&ReportingCommittee@nasact.org><br>
<b>Cc:</b> NASCComptrollersCCs <NASCComptrollersCCs@nasact.org>; NSAAAuditorsCCs <NSAAAuditorsCCs@nasact.org>; StateTreasurersCCs <StateTreasurersCCs@nasact.org><br>
<b>Subject:</b> GASB Exposure Draft - Annual Comprehensive Financial Report<o:p></o:p></p>
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<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">The Governmental Accounting Standards Board has issued the Exposure Draft
<i>The Annual Comprehensive Financial Report</i>.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal" style="text-autospace:none"><span style="font-family:"Arial",sans-serif">The Board is proposing to change the “comprehensive annual financial report” to the “annual comprehensive financial report.” The Board has asked for comments on all
matters in the document, including comments on any aspects with which you agree as well as any with which you disagree. The Board requests that you explain the reasons for your views, including any alternative that you believe the GASB should consider.
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">The <a href="https://accountingfoundation.us3.list-manage.com/track/click?u=e043e1190253df702a1340ed7&id=e87c94a70d&e=64fc75ed88" target="_blank">
Exposure Draft</a> is available on the GASB website, <a href="http://www.gasb.org">
www.gasb.org</a>.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif;color:black">NASACT will be preparing an association position on
</span><span style="font-family:"Arial",sans-serif">the document<span style="color:black">. In order to meet the GASB’s deadline of
</span>July<span style="color:black"> </span>9<span style="color:black">, 2021, please send your comments to me no later than
</span><u>Fri<span style="color:black">day, </span>June<span style="color:black">
</span>18</u><span style="color:black">.<b> </b></span><b> </b><span style="color:black"><o:p></o:p></span></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">Thank you,<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">Kim O’Ryan<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">NASACT<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">(859) 469-5120 (direct line)<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif">(859) 276-1147<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><a href="mailto:koryan@nasact.org">koryan@nasact.org</a><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Arial",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
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