NORWALK, Conn.–(BUSINESS WIRE)–The Board of Trustees of the Financial Accounting Foundation (FAF) today
announced the reappointment of Brian
W. Caputo to a second term on the Governmental Accounting Standards
Board (GASB). Mr. Caputo, who began serving as a member of the GASB on
July 1, 2015, is the interim president of the College of DuPage in Glen
The GASB is the independent, private-sector organization that sets
accounting and financial reporting standards for state and local
governments in the United States. The FAF is the independent,
private-sector organization responsible for the oversight of the GASB
and its sister standard setter, the Financial Accounting Standards Board
Mr. Caputo’s second and final term on the Board begins July 1, 2019, and
will extend through June 30, 2025.
“The Board of Trustees is pleased Brian will serve another term on the
GASB,” said FAF Chairman Charles H. Noski. “His broad experience and
perspective as a long-time preparer of public sector financial
statements are valuable resources to the GASB.”
David A. Vaudt, GASB chairman, added, “Brian’s demonstrated versatility
and extensive experience will serve the Board well on the critical
After joining the College of DuPage in 2017 as vice president of
administration and chief financial officer, he was elevated to interim
president in January 2019.
Previously, Mr. Caputo served as chief financial officer/treasurer for
the city of Aurora from 1998 to 2017, where he was responsible for
developing and overseeing the execution of the city’s $400 million
annual budget, preparing the comprehensive annual financial report, and
managing an annual investment of public funds averaging $500 million.
Prior to that, as director of finance and treasurer of the village of
Mount Prospect, Illinois, he was responsible for all aspects of the
village’s financial management. Earlier in his career, Mr. Caputo served
in government finance positions with the villages of Hoffman Estates and
LaGrange, Illinois. He also worked as an auditor with Price Waterhouse
He served in the U.S. Army from 1982 to 1988 and attained the rank of
Captain. Mr. Caputo then served in the U.S. Army Reserve from 1988 to
2004 and retired with the rank of Lieutenant Colonel.
He holds a bachelor’s degree from the United States Military Academy; a
master’s degree in accountancy from DePaul University; a master of
public administration degree from Northern Illinois University (NIU);
and a Ph D in public administration, public policy, and government
finance from NIU. Mr. Caputo is a certified public accountant and a
certified public finance officer.
About the Financial Accounting Foundation
Established in 1972, the Financial Accounting Foundation (FAF) is the
independent, private-sector, not-for-profit organization based in
Norwalk, Connecticut responsible for the oversight, administration,
financing, and appointment of the Financial Accounting Standards Board
(FASB) and the Governmental Accounting Standards Board (GASB). The FASB
and GASB establish and improve financial accounting and reporting
standards—known as Generally Accepted Accounting Principles, or GAAP—for
public and private companies, not-for-profit organizations, and state
and local governments in the United States. For more information, visit www.accountingfoundation.org.
About the Governmental Accounting Standards Board
Established in 1984, the GASB is the independent, private-sector
organization based in Norwalk, Connecticut, that establishes accounting
and financial reporting standards for U.S. state and local governments
that follow Generally Accepted Accounting Principles (GAAP). These
standards are recognized as authoritative by state and local
governments, state Boards of Accountancy, and the American Institute of
CPAs (AICPA). The GASB develops and issues accounting standards through
a transparent and inclusive process intended to promote financial
reporting that provides useful information to taxpayers, public
officials, investors, and others who use financial reports. The
Financial Accounting Foundation (FAF) supports and oversees the GASB.
For more information, visit www.gasb.org.
John C. Pappas