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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GFOA Publishes Informed Decision-Making Through Forecasting: A Practitioner’s Guide to Government Revenue Analysis

January 19, 2017

(Chicago, Illinois – January 13, 2017) The purpose of a forecast is to inform financial decision-making. Public finance managers often find that decision-makers don’t give forecasts the weight in decision-making that they should. Government Finance Officers Association’s (GFOA) Informed Decision-Making Through Forecasting: A Practitioner’s Guide to Government Revenue Analysis describes how public finance managers can make a forecast resonate with its audience.

GFOA and Issuer Groups’ Message to Congress: Munis Build Infrastructure

January 11, 2017

On January 10, 2017, GFOA and 28 other issuer groups, including our state and local sister organizations, sent a message to the entire Congress in support of the preservation of the tax exemption of municipal bond interest. The message reiterated that the municipal bond is the only infrastructure financing tool that is accessible to jurisdictions of all sizes to effectively access the capital markets. We emphasize that the municipal bond is the best way to effectively implement the infrastructure needs of each community because decision making is made at the local level.

New Year, New Action on Marketplace Fairness

January 5, 2017

On January 3, 2017, the City of Roanoke, Virginia, passed a resolution urging the U.S. Congress to act on legislation that will enable state and local governments to collect revenues due to local government. Congressional inaction over the past several years has resulted in an increase in the Virginia state sales tax from to 5.3%, from 5%, and has placed significant limitations on the jurisdiction.

IN THE COUNCIL OF THE CITY OF ROANOKE, VIRGINIA

January 4, 2017

A RESOLUTION urging the United States Congress to enact legislation that will enable State and Local governments to collect revenues due to local government that are essential to the expansion of our local and regional economy, creation of thousands of new jobs, enhancement of the quality of life within our communities, and preservation of limited State and Local revenue sources.

Black Caucus Chair’s Message to GFOA Membership

December 8, 2016

Good afternoon.

I would like to extend a sincere thank you to the Multicultural Coalition Taskforce, all those who participated in the Multicultural Coalition survey, and all those who attended the annual meeting at the GFOA Black Caucus in Toronto. Higher than normal attendance and lively participation contributed to a healthy conversation about expanding the scope and mission of the Black Caucus.

Department of Labor’s Overtime Rule Delayed

December 1, 2016

On November 22, 2016, a Texas U.S. District Court judge issued a nationwide temporary injunction blocking the U.S. Department of Labor (DOL) from implementing new overtime pay rules scheduled to take effect December 1, 2016. Twenty-one states joined business groups filing suit in the eastern district of Texas to stop the DOL from implementing the rules, which they say would substantially increase employment costs.

Preserving the Tax Exemption—GFOA Grassroots

November 17, 2016

Now that the general election has concluded, we enter the hectic and exciting period of a new administration laying out its key goals and potential partnerships with Congress. Although President-elect Trump has not made municipal bonds a centerpiece of their campaign messaging, GFOA will work with the new administration to ensure that any new infrastructure financing plans recognize the importance of this centuries-long partnership, and that the tax-exemption remains intact.

GFOA Files Comments on MSRB’s Strategic Plan

November 9, 2016

On November 10, 2016, GFOA, along with the Leadership of the Committee on Governmental Debt Management, filed comments on the MSRB’s fiscal year 2017 Strategic Plan. The message reiterated approval for the MSRB’s work on EMMA, especially the development of platforms and features that enhance an issuer’s ability to use EMMA with greater ease and consistency, as evidenced in the groups’ recent work on improving the bank loan function. However, GFOA would appreciate the MSRB continuing to reach out to the association about further educational efforts and enhancements to EMMA.

GFOA Announces Members of Second Alliance for Excellence in School Budgeting

October 31, 2016

(Chicago, Illinois October 26, 2016) Government Finance Officers Association (GFOA) announced the members of the second wave of its Alliance for Excellence in School Budgeting. The Alliance is composed of 36 school districts working with GFOA to implement Best Practices in School Budgeting. Alliance members include districts from 18 states across the U.S. serving anywhere from a several hundred students to over one hundred thousand students.

Alliance members include:

GFOA's 111th Annual Conference

October 24, 2016

(Chicago, Illinois – October 25, 2016) Government Finance Officers Association (GFOA) will host its 111th Annual Conference, May 21-24, 2017, at the Colorado Convention Center in Denver, Colorado. Registration for the event is open on GFOA’s website (www.gfoa.org).

The conference is expected to bring together thousands of public finance professionals through:

Agency Develops Strategic Plan to Manage Short-Term Capital Assets

October 6, 2016

Agency Develops Strategic Plan to Manage Short-Term Capital Assets
The Hillsborough Area Regional Transit Authority (HART) understood the importance of properly managing short-term capital assets. Even so, the organization—an independent taxing district chartered to provide public transportation for a coverage area roughly the size of Rhode Island—often found itself in reactive rather than planning mode. Frustrated with the constant need to play catch-up, the agency developed a strategic plan.

Executive Board Nominating Committee Seeks Input

September 29, 2016

The GFOA Executive Board Nominating Committee is seeking recommendations for candidates to fill five at-large positions and the position of president-elect for the 2017-2018 GFOA Executive Board. All candidates must be active GFOA members. Please send nominations by December 31, 2016, to Heather A. Johnston, Past President, c/o GFOA, 203 N. LaSalle St., Ste. 2700, Chicago, IL 60601-1210.

GFOA Announces First Annual Better Budgeting Web-Stream Event

September 1, 2016

Budgeting is at the very core of local government finance, where it functions as a practical tool for setting policy, establishing priorities, promoting effectiveness and efficiency in operations, and ensuring both financial and programmatic accountability. Budgeting can only be as effective as the budget professionals who make it all happen. Government Finance Officers Association’s (GFOA) First Annual Better Budgeting web-streaming event on October 6, 2016, with an encore presentation on January 12, 2017, 2:00−4:00 p.m.

21st Annual Governmental GAAP Update

September 1, 2016

Government Finance Officers Association (GFOA) will offer its 21st Annual Governmental GAAP Update web-stream event on November 3, 2016, and again on December 1, 2016, from 1:00 to 5:00 pm (Eastern). The training will provide comprehensive coverage of the most recent developments in accounting and financial reporting for state and local governments, including:

August Recess Is Here—Are you Ready?

August 3, 2016

Throughout the month of August, your congressional delegation typically puts business on hold in Washington D.C. and heads home. The August Recess is designed to give members of Congress and their staff some time to reorient themselves, so it’s one of the very best times for constituents to meet with their members of Congress. Your advocacy during this period of time means the most because it allows your Congressional member to come face-to-face with the impact of federal preemption legislation, especially because of the deep fiscal impacts these have on localities within their districts.

Implementing the Affordable Care Act

July 28, 2016

It’s a work in progress—that’s how a new brief from the 40-state ACA Implementation Research Network, a project jointly operated by the Rockefeller Institute and the Brooking Institution, describes ACA implementation so far. Among the brief’s findings: Medicaid enrollments have exceeded early forecasts, as many people who had been eligible for Medicaid only learned of their eligibility when checking on the exchanges.

Colorado Counties Benefit from Shared Services

July 21, 2016

Reacting to a changing environment is nothing new for local governments, but determining the best response to change can still be difficult. Pueblo County, Colorado, used shared services to address its changing environment and made unexpected gains in the bargain. Faced with increasing software costs due to mandatory system upgrades, several Colorado counties began looking for other property assessment software options. Pueblo, one of the larger counties in the area, found out about the challenge its peers faced and offered to help by providing access to Pueblo County’s system.

SLLC Issues Supreme Court Review for Local Governments

July 20, 2016

As an associate member of the State and Local Legal Center, GFOA engages with other “Big Seven” members to write amicus briefs, ensuring that the court understands the impact of its findings on state and local governments. For a summary of the cases of special interest to state and local governments in 2016, take a look at the SLLC’s Supreme Court review summary.