Six Best Practices Adopted by Executive Board – January 2012The GFOA’s Executive Board recently approved two new Best Practices (BPs) and four revised Best Practices for the GFOA’s membership. The Best Practices were sent to the Executive Board from the GFOA’s Standing Committees. Read more for a summary of the BPs, and a hyperlink to each of the documents can be found in their titles. |
|
Read more...
|
Model for Self-Assessment of the Finance Function Now AvailableHow effective is your jurisdiction's financial management? The CIPFA GFOA FM Model can help you find out. This powerful tool, created by the GFOA's U.K. counterpart, the Chartered Institute of Public Finance and Accountancy, and customized for U.S. and Canadian governments by the GFOA, will help your organization achieve high performance in financial management. Learn More |
New GFOA White Paper Defines Zero-Base Budgeting in Current PracticeZero-base budgeting (ZBB) is a budgeting process that asks managers to build a budget from the ground up, starting from zero. However, ZBB has been the subject of some controversy over the years, owing primarily to questions about the value ZBB analysis provides, in light of the costs incurred to putting ZBB into practice.
The goal of this paper is to define what ZBB means in current practice, describe the uses of ZBB, help public officials have a conversation in their organizations about the value of ZBB, and explore the important alternatives to ZBB.
Read now |
3% Withholding Law RepealedThe House of Representatives acted on November 16 to repeal the 3% Withholding Law, that was part of the 2005 Tax Increase Prevention and Reconciliation Act, and was set to go into effect January 1, 2013. The Senate passed the legislation, H.R. 674, last week. |
House Approves Legislation to Preempt Local Government Taxation of Wireless Communications ServicesThe House of Representatives approved H.R. 1002, the Wireless Tax Fairness Act of 2011. The bill would preempt the ability of state and local governments to tax wireless communications, on a prospective basis, at a higher rate than other businesses for a period of 5 years. Attention has now turned to the Senate companion measure, S. 543. GFOA members are urged to contact their Senators ASAP and urge them to oppose this legislation. Click here for more information and talking points |
New GFOA White Paper - Containing Health Care Costs
The cost of employee health-care benefits has increased rapidly over recent years, contributing to the budgetary stress that governments are already facing as a result of declining or stagnant revenues and escalating costs in other areas. |
|
Read more...
|
Awards for Excellence in Government Finance Applications AvailableThe GFOA's Awards for Excellence in Government Finance recognize innovative programs – contributions to the practice of government finance that exemplify outstanding financial management. The awards stress practical, documented work that offers leadership to the profession and promotes improved public finance.
Click here for an application |
Standard and Poor’s Municipal Bond Downgrades, as a Result of the Downgrade to U.S. TreasuriesStandard and Poor’s has provided GFOA with the following links to assist our members in reviewing their ratings in order to determine if any of their outstanding debt issues has been downgraded, as a result of the downgrade to the U.S. Treasuries. |
|
Read more...
|
IRS Releases Final Regulations on Tax Treatment of Employer Provided Cell PhonesThe IRS released its final regulations on the tax treatment of employer provided cell phones. The Notice implements their decision that any personal use of an employer provided cell phone is deemed to be a de minimis amount, and therefore not considered to be a taxable fringe benefit to the employee. Additionally, guidance on reimbursing employee's for business use of their own personal phones has also been addressed by the IRS. Click here to learn more. |
|
