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State Board Report

November 2013

NASBA’s 2013-14 Board of Directors held their initial meeting on October 29, 2013 and re-elected Director-at-Large E. Kent Smoll (KS) as Board Treasurer and Directorat-Large Kenneth R. Odom (AL) as Board Secretary. They will serve on NASBA’s Executive Committee, which also includes Board Chair Carlos E. Johnson (OK), Vice Chair Walter C. Davenport (NC), Past Chair Gaylen R. Hansen (CO) and non voting member President Ken L. Bishop. Mr. Smoll also chairs the Administration and Finance Committee and Mr. Odom chairs the Uniform Accountancy Act Committee.

At the October 25, 2013 meeting of the NASBA Board, Treasurer E. Kent Smoll (KS) announced that NASBA had its best year ever in operating income, investment income and net income with a net increase in net assets of $4.8 million versus the prior year’s $1.4 million. NASBA also devoted more resources toward mission-related activities and services that directly benefit the Boards of Accountancy than in any prior year.

The Board authorized President and CEO Ken L. Bishop to handle the determination of the reconfiguration of NASBA’s headquarters in Nashville, TN, to increase the rental space’s efficiency. Mr. Bishop explained that the staff had been working with architects to plan for more open space that would enhance collaboration, whether in the present building or another location. He thanked the Board for giving him the ability to make a timely move in the Nashville real estate market.

Recommendations from the Global Strategies Committee and the Diversity Task Force were also presented to NASBA Chair Gaylen R. Hansen (CO).

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