Best Practice

Best Practice

A GFOA Best Practice identifies specific policies and procedures as contributing to improved government management. It aims to promote and facilitate positive change rather than merely to codify current accepted practice. Partial implementation is encouraged as progress toward a recognized goal.  A GFOA Advisory identifies specific policies and procedures necessary to minimize a government’s exposure to potential loss in connection with its financial management activities. It is not to be interpreted as GFOA sanctioning the underlying activity that gives rise to the exposure.

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179 Documents

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Selecting and Managing Underwriters for Negotiated Bond Sales

Best Practice
February 2014

The Government Finance Officers Association (GFOA) recommends that, unless the issuer has sufficient in-house expertise and access to market information, it should hire an outside municipal advisor prior to undertaking a negotiated debt financing in order to assist the government with evaluating proposals from underwriters, selecting the underwr

Committee: 
Governmental Debt Management

Capital Planning Policies

Best Practice
September 2013

GFOA recommends that governments develop and adopt capital planning policies that take into account their unique organizational characteristics including the services they provide, how they are structured, and their external environment. 

Committee: 
Economic Development and Capital Planning

Investment of Bond Proceeds

Best Practice
September 2013

The Government Finance Officers Association (GFOA) recommends that state and local governments develop an understanding of the risks inherent in investing bond proceeds and incorporate steps in their investment strategy for each fund to minimize these risks.

Committee: 
Governmental Debt Management
Treasury and Investment Management

Debt Issuance Transaction Costs

Best Practice
February 2013

GFOA recommends that finance officers be aware of the parties likely and necessary to be involved in the transactions and be prepared to select these parties in a manner that ensures that needed services are obtained at a fair and reasonable cost.  Additionally, an issuer should carefully review all invoices to ensure that an expense is not billed to multiple parties.

Committee: 
Governmental Debt Management

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