CAS Board – 53rd Meeting
June 30, 2008
Chairman Paul Denett convened the 53rd meeting of the Cost Accounting Standards (CAS) Board on June 30, 2008 at 1:00 P.M. The meeting was held in the Eisenhower Executive Office Building, 1750 Pennsylvania Avenue, Washington, DC. Board Members Mses. April Stephenson and Kathleen Turco as well as Messrs. Bruce Timman and Richard Wall were present. Also in attendance were Messrs. Robert Burton, Deputy Administrator, OFPP; David Capitano and Eric Shipley, CAS Board Staff; and Raymond Wong, CAS Board Director. Mr. Capitano departed the meeting prior to the discussion on Pension Harmonization.
Agenda Items:
CAS 403, Operating Revenue Threshold
Mr. Wong briefed the Board on the three public comments received in response to the Staff Discussion Paper (SDP) published in the Federal Register on February 13, 2008 (73 FR 8260). All the public comments supported a revision to the operating revenue threshold. The Staff will work on this project subject to other workload requirements with a higher priority.
Computing the Cost Impact of a Change in Accounting Practice
Mr. Wong briefed the Board on the working drafts for the SDP being prepared by the Working Group. After some discussion, the Board provided comments and input on the approach taken by, and the scope of, the SDP working drafts. The Board directed the Working Group to incorporate its inputs and provide a draft. The draft SDP is due to the Board in 60 days.
Pension Harmonization
Mr. Eric Shipley briefed the Board on the highlights of the draft Advance Notice of Proposed Rulemaking (ANPRM). The Board discussed various concerns and provided input on some of the proposed changes to implement pension harmonization. The Board directed the Working Group to finalize the ANPRM incorporating the Board comments and submit it to the Board for approval for publication in the Federal Register within 30 days. The Board approval will be via email and/or teleconference.
Adjournment
The Chair, Mr. Denett, adjourned the meeting at 4:00 P.M.
Minutes submitted by Raymond J. M. Wong, July 1, 2008.