Members of the board of trustees of the Financial Accounting Foundation have approved two appointments to the Governmental Accounting Standards Board -- the accounting and reporting standards-setter for state and local governments.

Marcia L. Taylor, assistant manager of the city of Mt. Lebanon, Pa., was named to a five-year term as a member of GASB, effective July 1. She replaces Paul R. Reilly, who is completing the maximum 10 years that a board member may serve.

The foundation, which is responsible for overseeing, funding and selecting the members of GASB and the Financial Accounting Standards Board, also reappointed board member William W. Holder for a second five-year term, which will commence on July 1.

Prior to becoming assistant manager of Mt. Lebanon in 1990, Taylor was director of finance for Mt. Lebanon for 11 years. She also served on the audit staff for a CPA firm, now part of KPMG, that audited government, nonprofit, college and hospital entities. Taylor served four years as a member of the FAF's Governmental Accounting Standards Advisory Council as the International City/County Management Association's representative, and was chair of GASAC's communication and public relations committee. She is an active member of the Government Finance Officers Association and several other professional organizations. Taylor is an adjunct instructor at the Graduate School of Public and International Affairs of the University of Pittsburgh.

William W. Holder, the Ernst & Young Professor of Accounting at the University of Southern California, joined GASB in 2000. He has published extensively in the area of governmental financial reporting.

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