RADFORD – Radford University’s Governmental and Nonprofit Assistance Center (GNAC), a leader in providing quality professional education and resources to governmental and nonprofit organizations, will host a live webcast about a new reporting standard for state and local governments on Thursday, May 7.

The new standard will significantly change how governments report fund balance information in their financial statements. Bruce Chase, accounting professor at RU and director of GNAC, will lead the broadcast. John Montoro, a partner with Cherry, Bekaert & Holland, will assist him.

The event is sponsored by the Virginia Government Finance Officer Association (VGFOA). Participants will be able to email questions during the session, and an attempt will be made to answer as many as time will allow. To learn more, visit the VGFOA website at http://www.vgfoa.org/.

GNAC is part of the Radford University College of Business and Economics. The center serves as a forum for the exchange of ideas among faculty and managers and seeks to identify and promote "best practices" in accountability and management for organizations in the public and nonprofit sectors. The center promotes best practices by engaging in continuing professional education; engaging in consulting projects; conducting conferences, forums and events; and producing research products on current and emerging issues. To learn more, visit http://www.gnac.radford.edu or call (540) 831-5744.