Best Practices Approved and Policy Statements Recommended for Approval by the GFOA's Executive Board, February 2011

Below is an overview of the GFOA’s Executive Board’s recently approved Best Practices, and the policy statements, that they are recommending for GFOA membership approval at the GFOA’s 2011 Annual Business Meeting, being held in San Antonio, Texas on Tuesday, May 24th.

New Best Practices


Revised Best Practices

  • Analyzing and Issuing Refunding Bonds - The 1995 Best Practice, formerly entitled, Analyzing an Advance Refunding, was expanded to discuss broader issues related to analyzing and issuing all types of refunding bonds.  
  • Use of Cash Flow Forecasts in Treasury Operations – This best practice has been updated to assist governments with cash flow forecasting, including the use of analytical software, and the frequency with which forecasts should be updated.
  • Purchasing Card Programs – This Best Practice was revised to encompass additional items that governments should consider when choosing a vendor for a purchasing card program.


Public Policy Statements