GFOA Standing Committees
GFOA Standing Committees
GFOA is advised by standing committees in seven areas of government finance.
Accounting, Auditing, and Financial Reporting Committee
The Accounting, Auditing, and Financial Reporting Committee assists public finance officers in their efforts to utilize sound auditing and accounting standards and produce transparent financial reports on the health of state and local finance activities. The committee works closely with the GASB, the American Institute of Certified Public Accountants, and other organizations and recommends best practices for effective government finance operations.
Committee on Governmental Budgeting and Fiscal Policy (BUDGET)
The Committee on Governmental Budgeting and Fiscal Policy advises GFOA and recommends policies in budgeting, management, and related public finance areas not addressed by other GFOA committees. The committee actively promotes the professionalism of budget practitioners through the development of best practices and researching various initiatives. In meeting these responsibilities, the committee serves as a forum for the exchange of information about emerging issues, concepts, and techniques in public budgeting and management.
Committee On Governmental Debt Management (DEBT)
The GFOA Committee on Governmental Debt and Fiscal Policy promotes sound financial practices for local, state, and provincial governments. The Committee works on best practices, actively engages with participants in the market to help develop guidelines and updates for its members, and monitors legislative and regulatory activities that impact the ability of state and local governments to continue borrowing in a cost effective manner.
Committee on Economic Development and Capital Planning (CEDCP)
As the role of local government continues to evolve, the finance officer is frequently being put in the unfamiliar position of leading economic development projects. In addition, it is becoming increasingly important for governments to consider development issues as they prepare and execute their long-term capital plans. These trends have prompted the executive board to create the Committee on Economic Development and Capital Planning, whose mission is "to assist finance officers to become knowledgeable participants in planning, evaluation, and execution of community/economic development and capital issues through the drafting and promotion of policies, procedures, and best practices."
Committee on Retirement and Benefits Administration (CORBA)
The Committee on Retirement Benefits and Administration works with state and local administrators, trustees, and personnel officials to effectively manage state and local retirement funds and employee benefits. The committee tracks new industry practices, regulatory and legislative developments, and issues best practices to assist public pension and personnel officers.
Committee on Treasury and Investment Management (TIM)
Money is one of the major assets of state and local government organizations and its management has never been more important. GFOA recognizes the importance of sound cash management practices, utilizing all dollars to increase capital. The Committee tracks new developments in cash management and develops best practices for government officials at all levels.