Federal Accounting Standards Advisory Board

Transcript:Federal Accounting Standards Advisory Board:
Federal Accounting Standards Advisory Board Public-Private Partnerships – More Complex Than You Think! AGA 2015 Professional Development Training Nashville, TN Tuesday, July 14 Session Number: T108 Room: Delta B 10:45 a.m. – 12:00 p.m. 1 Disclaimer Views expressed are those of the speakers. The Board expresses its views in official publications. 2 FASAB’s Mission The FASAB serves the public interest by improving federal financial reporting through issuing federal financial accounting standards and providing guidance after considering the needs of external and internal users of federal financial information. 3 Public-Private Partnerships Overall goal - Making the full costs of P3s transparent Governments increasingly use innovative approaches to partnering with non-governmental entities. Benefits include: Risk sharing Enhanced performance incentives Financing arrangements to avoid large up front investments of taxpayer funds However, arrangements may obscure costs and results. The project will consider how the lease and entity standards may be applied to such arrangements and fill any voids in the standards. 4 Task Force Composition Public & Private Participants 5 Task Force Composition Professional Disciplines 6 Mr. Kevin J. McHugh Managing Director Navigant Consulting, Inc. Mr. McHugh focuses on providing valuable strategy, operations, fixed asset management and valuation solutions to the federal, state and local governments as well as the higher education and healthcare communities throughout the United States. Kevin brings more than 30 years of valuation consulting experience within these sectors, and focuses on service concessions, public/private partnerships, and infrastructure valuation studies. Kevin has assisted both GASB and FASAB and in particular, helped developed reporting requirements for deferred maintenance and repairs and asset impairment. He can be contacted via email: Kevin.McHugh@navigant.com or phone: 646.227.4701 7 Robert D. Helwig JD Bob Helwig Consulting, LLC; Formerly Office of the Secretary of Defense Mr. Helwig has been involved in privatization initiatives since 1996 when he joined the Department of Defense Housing Revitalization Office. He has been engaged in privatizing both military housing and utilities involving concept development, contract solicitation, deal structuring, portfolio management, and financial analysis. He has Bachelor degrees in Political Science and French from the California State University; a Master's degree in International Policy from the Monterey Institute of International Studies; and a Juris Doctor from George Washington University. He is a member of both the Maryland and Washington, D.C. Bars. He is currently a Doctoral Candidate in Public Administration at the University of Baltimore, writing his dissertation on P3s. He can be