Procurement

GFOA recommends that governments implement a purchasing card program to improve the efficiency and effectiveness of their purchasing processes.   

Governments should carefully analyze all aspects of a service delivery option, including levels of service, service quality and expected performance, service revenues and costs, required transition activities and other relevant factors before changing service delivery methods.

GFOA recommends that governments review their financial services contracts every five years and use a competitive process for the procurement of financial services.

Issuers should select bond counsel on the basis of merit using a competitive process and review those relationships periodically.

Issuers should hire a municipal advisor (MA) prior to the undertaking of debt financing unless the issuer has sufficient in-house expertise and access to current bond market information, and issuers should select municipal advisors on the basis of merit using a competitive process and that issuers review those relationships periodically.

State and local governments should take the appropriate steps to obtain high-quality actuarial services for their public retirement plans.