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August 2001

GFR Cover
Departments

NEWS BRIEFS

FEDERAL FOCUS
Pension Reform Piggybacks on Far-reaching Tax-cut Law

ISSUES IN DEBT MANAGEMENT
What Governments Should Know About Their Financial Advisors

MONEY MANAGEMENT MATTERS
Governments Prefer Passive Management Strategy

ANNUAL CONFERENCE
2001 Annual Conference

PROFILING GFOA
Meet the New Executive Board Members

BOOK REVIEW

FROM THE LIBRARY

CALENDAR

GFR Archives >>
Articles In This Month's Issue
e-Government Across the Globe: How Will "e" Change Government? (PDF 39.7 Kb)
This article outlines what e-Government is, how it is changing government, how it can be delivered, and what kind of progress governments are making in this area.
Mark Howard

Application Service Providers [ASPs]: Can ASPs Bring ERP to the Masses?
Application service providers represent an exciting opportunity for small- and mid-sized governments to take advantage of powerful enter prise software, but there are a number of special challenges associated with this approach.
Shayne Kavanagh

Tackling Unclaimed Property in Kentucky State Government
This article describes one state treasurer’s approach to developing a new statewide abandoned property program.
Lynsie T. Gaddis

Are All Public Spending Programs Equal? Priority Setting Approaches for Government Budgeting
Governments are using formal priority-setting systems in lieu of ad hoc methods to make better operating and capital budgeting decisions.This article presents highlights from the new GFOA publication Priority-Setting Models for Public Budgeting.
Roland Calia

What To Do When the IRS Audits Your Bonds
Under the IRS's expanded enforcement program, it is much more likely today that a city, county, or special purpose district's bond issues will receive a notice of audit than in the past. As a result, issuers must be prepared to respond to an audit by having a basic understanding of the audit process. This article provides issuers with information on their rights and appeal procedures during the audit process. (PDF 120 Kb)

  1. IRS opening letters: Click here
  2. Sample disclosure language: please contact: sgaffney-campanella@gfoa.org
  3. Sample closing agreement: Click here
  4. Closing agreement procedures: Click here
  5. IRM Materials re-appeals: The IRM is undergoing extensive revisions as the IRS completes its reorganization. Updates will be provided as they are available. Please contact sgaffney-campanella@gfoa.org for more information.
  6. Examination guidelines for municipal financing agreements: Click here
  7. Pre-filing agreements pilot program announcement;
  8. Early referral Rev. Proc;
  9. Test of mediation procedure for appeals announcement: Click here
  10. Test of arbitration procedure for appeals announcement: Click here
  11. Test of alternative dispute resolution initiative: Click here

    Mitch Rapaport and J. Ben Watkins, III


Asset Allocation Practices in the Public Sector: A Primer for Finance Officers
This article focuses on the key decision affecting the investment of public-sector pensions - asset allocation. It reviews some fundamental concepts, examines how pension plans arrive at their allocation decisions, and then examines the historical shift toward equities.
Nicholas Griefer

Past Articles Featured On This Site:
Then and Now: 65 Years of the Blue Book (June 2001)
By examining the history of GFOA’s Blue Book on accounting, auditing, and financial reporting, this article
provides an overview of the background behind governmental accounting organizations, guidelines, and
principles.
By Stephen J. Gauthier

Bringing Out the Dead: Can Information Technology Resurrect Budget Reform? (April 2001)
Abandoned budget reforms dot the state and local government landscape. Program, performance, zero-based, and mission-driven budgeting-with isolated exceptions-are just some of the reforms in the scrap heap of public-sector fiscal history. The authors outline a case for why advances in information technology may lead governments to reconsider old budgeting approaches and motivate 21st Century reformers to develop new and hybrid ones.
By Judd Metzgar and Rowan Miranda

Organizing the Public Purchasing Function: A Survey of Cities and Counties (February 2001)
As a number of state and local governments explore new ways to reduce costs, provide flexibility to service delivery managers, and integrate their decision-making processes, many are examining their purchasing function as a potential area for increased efficiency.
By Clifford P. McCue

Fiscal Regionalism: Metropolitan Reform Without Boundary Changes (December 2001)
This article details the history of regional governance in the United States. It highlights the different structures of regional cooperation currently in existence and explains, in depth, a relatively new theory known as “fiscal regionalism.”
By David Miller
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