Top 10 Most-Viewed GFR Articles of 2025

Within an enterprise resource planning (ERP) project (or many other similar initiatives in government), people tend to become so involved in the details of the effort they lose focus on the bigger picture goals or purpose. Defining organizational roles is critical to overall teamwork and being able to successfully manage organizations or projects.

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.

Finance professionals don’t like to hear the words “power,” “politics,” and “budgeting” in the same sentence. Ideally, we’d like budgeting to be an apolitical process where decisions are solely based on data and objective criteria. Unfortunately, this is not the world we live in. In this article we’ve outlined ten steps you can take to navigate power politics, maintain your ethics, and support positive outcomes for the community you serve.

Local governments across the country have faced growing financial strain over the past few years. Inflation has driven up the cost of doing business, the long tail of the COVID-19 pandemic continues to affect staffing and service delivery, and interest rate hikes (intended to cool inflation) have had unintended consequences for revenue streams tied to economic activity. For the County of San Diego Assessor / Recorder / County Clerk’s Office, that convergence of factors triggered a deep and immediate fiscal crisis.

What do the fictional cities of Limerace, Bublin, and Beme, Germanyn have to do with government finance? Quite a lot, it turns out. In fact, here’s a bold prediction: in three years, most local government chief finance officer (CFO) job descriptions will include “data integrity assurance for artificial intelligence applications.”

Leadership is as much art as it is science. You’ve got to take in all this advice, shape your technique, and practice to suit your style, personality, and the ever-changing circumstances and conditions you face. Now that the disclaimer is out of the way, here are eight strategies that will help you prepare for your first—or next—leadership position.

Governments that have a December 31, 2024, fiscal year end and issue financial statements prepared in accordance with generally accepted accounting principles (GAAP) are the first that are required to report in accordance with GASB Statement No. 101, Compensated Absences, which became effective for fiscal years beginning after December 15, 2023, and all financial reporting periods thereafter.

Most government leaders are aware of the principle of structural balance, often summed up as “ongoing expenditures must be supported by ongoing revenues.” But how do governments determine what goes into each of those financial categories?

A “first principle” is a basic, foundational concept. First principles represent the most essential elements of any given pursuit. Just as accounting has first principles, such as reliability, timeliness and consistency; public finance has its own first principles.

The stakes are high for local governments. Operational continuity, financial sustainability, and the quality of public services hinge on a steady supply of skilled professionals. Without a robust talent pipeline, municipalities risk not only delayed projects but also reduced effectiveness in serving their communities. In this article we explore how three cities have developed programs to bring in young talent and help prepare them for a potential future in public finance.