Maintaining an Investor Relations Program

Best Practice
Approved by GFOA's Executive Board: 
May 2011

The Government Finance Officers Association (GFOA) recommends that governmental bond issuers consider developing an investor relations program. The centerpiece of such a program is a commitment to provide full and comprehensive disclosure of annual financial, operating, and other significant information in a timely manner consistent with federal, provincial, and local laws. Issuers may consider and are encouraged to provide additional information to investors beyond that provided for in their contractual commitments. An investor relations program, whether provided directly through a government issuer or through a fiscal agent, should consider the following: