The Board of Trustees of the Financial Accounting Foundation (FAF) has announced the appointment of NIU alumnus Brian W. Caputo, chief financial officer and city treasurer of the City of Aurora, to the Governmental Accounting Standards Board (GASB).
He also serves as an adjunct faculty member in public administration.
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 (FASB).
Caputo’s term commences July 1 and will extend through June 30, 2019. He will be eligible for reappointment to an additional term of five years at that time.
“The Board of Trustees is pleased to welcome Brian to the GASB,” FAF Chairman Jeffrey J. Diermeier said. “His experience and perspective as a preparer of government financial statements will add significant value to the board as it addresses a wide range of key issues going forward.”
“Brian is a dynamic individual whose expertise and insights will serve the board well on the many important issues currently before us,” said David A. Vaudt, GASB chairman, “including the next phase of outreach and educational activities on pensions and other postemployment benefits.”
Serving the City of Aurora since 1998, Caputo is responsible for developing and overseeing the execution of the city’s $400 million annual budget, preparing the comprehensive annual financial report, and managing annual investment of public funds averaging $500 million.
Previously, as director of finance and treasurer of the Village of Mount Prospect, he was responsible for all aspects of the village’s financial management. Prior to that, Caputo served as assistant finance director for the Village of LaGrange.
He served in the U.S. Army from 1982 to 1988 and attained the rank of captain. Caputo then served in the U.S. Army Reserve from 1988 to 2004 and retired with the rank of lieutenant colonel.
In addition to his NIU degree, Caputo holds a bachelor’s degree from the United States Military Academy and a master’s degree in accountancy from De Paul University. He is a certified public accountant and a certified public finance officer.