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.
News
News
Executive Board Application Process
December 5, 2018
GFOA's Executive Board Nominating Committee is seeking candidates to fill five at-large positions and the position of president-elect for GFOA. All candidates must be active GFOA members and would serve three-year terms beginning in May 2019. Please apply online using the link below by February 8, 2019. For questions on the applicaiton process, please contact Chris Morrill, CEO/Executive Director for GFOA.
GFOA Files Response to Proposed LIBOR Fallback Language
November 28, 2018
Blockchain Technology: Local Governments Applications and Challenges
November 7, 2018
State and local governments have increased their exploration of innovative approaches to deliver essential public services. International City/County Management Association (ICMA) and the Government Finance Officers Association (GFOA), today released “Blockchain Technology:
Summary: GFOA's Fall 2018 Best Practices
October 17, 2018
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.”
Emily Swenson Brock Named Bond Buyer’s 2018 Rising Star
October 1, 2018
(Chicago, Illinois – October 1, 2018) Emily Swenson Brock, director, GFOA Federal Liaison Center, has been named a 2018 Rising Star by the Bond Buyer.
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.
Much-Anticipated Tax Reform “2.0” Framework Released
July 25, 2018
On Tuesday, House Ways and Means Committee Chairman Brady released a potential framework for scheduled “listening sessions” regarding a second potential round of tax reform. The document generally follows the same template of the blueprint that was released prior to the Tax Cuts and Jobs Act of 2017. The framework identifies three key areas:
GFOA Student Initiative
June 27, 2018
GFOA is working to get more students involved in the organization. A number of initiatives are in place or in the works for the upcoming year. In early 2018, GFOA updated and enhanced its student membership brochure to reflect the benefits of becoming a student member, and to highlight the low cost of membership. In early April, GFOA awarded scholarships to 11 students totaling $100,000.
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 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 Minorities in Government Finance 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.
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.
GFOA Awards Goldberg-Miller Public Finance 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.
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 Government Finance Professional 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.
Tackling the Problem of Health-Care Costs
March 21, 2018
Everyone knows that health-care benefits are expensive, usually an employer’s second-biggest expense after payroll. Employers are therefore looking at a number of strategies to keep these costs sustainable.
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.