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Rethinking Materiality
There is no formal standard for defining materiality in local government accounting and financial reporting. So, local governments must use their own judgment to decide what is considered material. Judgments about what is material can significantly affect how much work is needed to complete financial reports. These judgments also affect the accountability that financial reporting provides to its audience.
GFOA Explores Creation of Public Finance Innovation Lab, Seeks Visionary Leader to Guide Effort
This week, GFOA announced that it is exploring the creation of a Public Finance Innovation Lab, a new initiative designed to accelerate how local governments adopt innovative practices and technologies. To help lead this exploration, GFOA is launching a search for an Innovator-in-Residence, a visionary leader who will shape the Lab’s initial strategy, partnerships, and business model.
GAAP Update Early Discounts Deadline is October 3
GFOA’s Annual GAAP Update is a must for public sector accountants and auditors. Get up to speed on key GASB changes, including GASB 103 and updates on 102, 104, and upcoming standards. Plus, don't miss a preview of GASB 105, Subsequent Events, and a Special Feature on Accounting and Financial Reporting for Capital Assets. Join us online November 6 or December 17 to earn 4 CPE credits and stay audit-ready. Register early to save!
FLC Update: One Big Beautiful Bill Act
On July 4, the One Big Beautiful Bill Act (OBBBA) was signed into law. GFOA is continuing to assess the implications of the budget reconciliation bill. While GFOA members’ advocacy efforts – including telling your stories at builtbybonds.com – resulted in the full preservation of tax-exempt municipal bonds, there are several other provisions of note.
Upcoming Events & Deadlines
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Early Registration Discount Deadline for Annual Governmental GAAP Update
Fri, October 3, 2025
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7th Annual MiniMuni Conference Begins October 21
Don't miss the premier municipal bond education event for finance professionals who work in debt issuance and management. Scheduled for October 21–23, this virtual conference gives participants the chance to hear from advanced practitioners, leading experts, and regulators on a range of topics that impact municipal issuers today. Whether attendees are new to debt management or decades into their career, there are panels for everyone over the course of three days.
CPFO Spotlight
Dalton Larson
Dalton Larson, CPFO, is deputy director of Finance for Anoka County, Minnesota. He started his CPFO journey as a way to challenge himself and grow both personally and professionally. Through the program, Dalton deepened his expertise across multiple areas of government finance while strengthening skills like time management, discipline, and perseverance. Dalton says the CPFO program gave him a robust understanding of every major area of government finance, especially in debt management and treasury and investment management, areas where he had limited exposure in previous roles.
Membership
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Join GFOA
Be part of a powerful community of 26,000+ public finance professionals across the U.S. and Canada. GFOA’s inclusive, organization-based membership model makes it easier than ever to connect, learn, and grow—whether you’re representing a government agency or joining as an individual.
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Member Benefits
Membership in GFOA connects you to the tools, knowledge, and network you need to excel in public finance. Explore the valuable benefits below and see how joining our community can help you advance your skills, strengthen your organization, and make a greater impact in your community.
Networking
Spotlight on GFOA's Small Government Forum
GFOA’s Small Government Forum offers members from small jurisdictions a dedicated space to connect, collaborate, and share strategies for success. Since 2015, this Affinity Group has brought together professionals from across the United States and Canada who serve communities with populations of 25,000 or fewer, or organizations with 500 employees or fewer. Membership is free and open to all qualifying GFOA members, providing exclusive networking opportunities, educational webinars tailored to small government challenges, and access to a private online community for peer-to-peer learning and support. Join today to exchange ideas, strengthen your network, and be part of a community built for small government leaders.
Additional Resources
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Awards
Our award programs recognize excellence in government finance.
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Best Practices
GFOA's best practices identify specific policies and procedures that contribute to improved government management.
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Rethinking Initiatives
We're taking a deep dive into budgeting, revenue, and financial reporting.
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Workforce Resources
Articles, research, and case studies to help governments now and in the future.
Publications & Subscriptions
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2024 GAAFR
The 2024 edition of the GAAFR is your go-to resource for the latest accounting rules and how to implement them.
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GAAFR Plus
Need more in-depth guidance in local government accounting, auditing, and financial reporting? GFOA’s GAAFR Plus offers important resources to help navigate the ever-changing world of public finance. Take advantage of this subscription today!