News

News

GFOA is always on the lookout for news items that will be useful for finance professionals, research that might help you do your job better, and legal and regulatory updates you need to know about. Check the GFOA news page for the updates and any relevant GFOA announcements, and see the GFOA Newsletter archive for back issues of our weekly electronic newsletter.

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Emily Swenson Brock Honored with the Women in Public Finance 2018 “She’s Our Hero” Award

October 4, 2018

(Chicago, Illinois – October 4, 2018) Emily Swenson Brock, director, GFOA Federal Liaison Center, has been awarded the Women in Public Finance 2018 “She’s Our Hero” Founders’ Award. The award is “given to the woman who manages career, self- development, family issues, and civil involvement – all at the same time.”

LIBOR to Be Discontinued, SOFR to Replace It

September 19, 2018

On July 27, 2017, the U.K. Financial Conduct Authority announced that it intends to stop compelling banks to submit London interbank offered rates (LIBOR) by the end of 2021. The New York Fed has started publishing the Secured Overnight Financing Rate (SOFR), a new reference rate based on overnight loans collateralized by U.S. Treasuries. SOFR is the anticipated replacement for the LIBOR index.

3rd Annual Better Budgeting Web-stream Series

August 10, 2018

(Chicago, Illinois – August 9, 2018) Government Finance Officers Association (GFOA) will offer three separate web-stream training sessions focused on critical budgeting issues for any local government. The 3rd Annual Better Budgeting Series will feature GFOA’s best practices that help organizations allocate resources, track spending and hold staff accountable, and communicate how to leverage different staff roles to build an effective budget office (or budget function).et function). 

23rd Annual Governmental GAAP Update

August 10, 2018

(Chicago, Illinois – August 9, 2018) Government Finance Officers Association (GFOA) will offer its 23rd Annual Governmental GAAP Update web-stream event on November 1, 2018, and again on December 5, 2018, and January 24, 2019, from 1:00 to 5:00 pm (Eastern). The training will provide comprehensive coverage of new developments in accounting and financial reporting for state and local governments, including: 

Small Cell Wireless Infrastructure Bill Opposed by GFOA and Other State and Local Groups

August 1, 2018

Together with the National Governors Association, The National Conference of State Legislatures, the National Association of Counties, the National League of Cities and the US Conference of Mayors, GFOA submitted comments (see below) regarding the STREAMLINE Small Cell Deployment Act (S. 3157). This bill would directly impact traditionally-held state and local regulatory authority and may complicate, rather than simplify, national and other efforts to expedite infrastructure deployment by prolonging state and local processes.

GFOA Submits Comments on Proposed Revisions to Actuarial Standard of Practice

August 1, 2018

On July 31, GFOA submitted comments in response to proposed revisions to Actuarial Standard of Practice (ASOP) No. 4 by the Actuarial Standards Board (ASB). Click here to view the exposure draft detailing the proposed changes. While not responding to all suggested changes, GFOA’s comments focused primarily on the requirement for public pension plans to publish the Investment Risk Defeasement Measure (IRDM).

House Judiciary Committee Holds Hearing to Examine Impact of South Dakota v. Wayfair Decision

July 25, 2018

On July 24, the U.S. House Committee on the Judiciary held a hearing titled “Examining the Wayfair decision and its Ramifications for Consumers and Small Business.” The hearing mostly addressed what some believe is the pending “chaos” facing businesses as states look to implement the decision. GFOA was joined by other local government associations in submitting a statement for the hearing expressing support for the court’s decision to overturn the 1992 Quill decision and to highlight the importance of sales taxes for vital public services.

Retiring Chairman Releases Transportation Proposal

July 25, 2018

This week, retiring Chairman of the House Committee on Transportation and Infrastructure Bill Shuster introduced what is presumably the last policy proposal of his congressional career. The congressman’s desire to address infrastructure legislation is well known, and although he acknowledges that the chances of his proposal becoming law are slim, he believes it is a good place to start the conversation.

Infrastructure Week in DC

May 14, 2018

Infrastructure Week, a non-profit organization, convenes a national week of education and advocacy that brings together American businesses, workers, elected leaders, and everyday citizens around one message in 2018: Americans are waiting. The future won’t. It’s #TimeToBuild.

GFOA’s 2018 Awards for Excellence in Government Finance

April 30, 2018

(Chicago, Illinois – April 27, 2018) Government Finance Officers Association of the United States and Canada (GFOA) announced the winners of its 2018 Awards for Excellence in Government Finance. GFOA’s most prestigious award recognizes contributions to the practice of government finance that exemplify outstanding financial management. The award stresses practical, documented work that offers leadership to the profession and promotes improved public finance.

GFOA Awards Frank L. Greathouse Government Accounting Scholarship

April 3, 2018

(Chicago, Illinois – April 3, 2018) Government Finance Officers Association (GFOA) has announced the recipients of its 2018 scholarships. GFOA’s mission is to promote excellence in state and local government financial management and the awarding of scholarships is one of the ways GFOA accomplishes its mission.

The recipients of the two awards for the Frank L. Greathouse Government Accounting Scholarship are Erika Jex and Timothy Kelly. Each will receive $10,000.

GFOA Awards Jeffrey L. Esser Career Development Scholarship

April 3, 2018

(Chicago, Illinois – April 3, 2018) Government Finance Officers Association (GFOA) has announced the recipients of its 2018 scholarships. GFOA’s mission is to promote excellence in state and local government financial management and the awarding of scholarships is one of the ways GFOA accomplishes its mission.

The recipients of the three awards for the Jeffrey L. Esser Career Development Scholarship are Celia King, Larissa Mendez, and Amy Miller. Each will receive $5,000.

GFOA Awards 2018 Scholarships

April 3, 2018

(Chicago, Illinois – April 3, 2018) Government Finance Officers Association (GFOA) has announced the recipients of its 2018 scholarships. GFOA’s mission is to promote excellence in state and local government financial management and the awarding of scholarships is one of the ways GFOA accomplishes its mission.

Betsy Myers to Deliver Monday Keynote Address at GFOA’s 112th Annual Conference in St. Louis

March 11, 2018

Government Finance Officers Association’s (GFOA) 112th Annual Conference will be held May 6─9, 2018, at America’s Center Convention Complex in St. Louis, Missouri. Betsy Myers, leadership expert, speaker, consultant, and author of Take the Lead: Motivate, Inspire, and Bring out the Best in Yourself and Everyone Around You, will be GFOA’s keynote speaker on May 7, 9:00–10:10 am. 

Debt Committee Updates Green Bonds White Paper

February 14, 2018

The GFOA Committee on Governmental Debt Management has recently updated GFOA White Paper: Green Bonds. The paper helps issuers understand the general characteristics, costs, risks, and benefits of entering into these types of transactions. It also provides considerations for issuers contemplating the use of green bonds, such as project eligibility, use of proceeds, securing an independent opinion affirming the “green” qualifications of such projects, reporting obligations, and pricing. 

Thomas L. Friedman to Speak at GFOA’s 112th Annual Conference in St. Louis

January 29, 2018

Government Finance Officers Association’s (GFOA) 112th Annual Conference will be held May 6─9, 2018, at America’s Center Convention Complex in St. Louis, Missouri. Thomas L. Friedman, New York Times foreign affairs columnist, Pulitzer Prize winner, and bestselling author will be GFOA’s keynote speaker on May 8, 8:30–10:00 am.


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