News

News

GFOA is always on the lookout for news items that will be useful for finance professionals, research that might help you do your job better, and legal and regulatory updates you need to know about. Check the GFOA news page for the updates and any relevant GFOA announcements, and see the GFOA Newsletter archive for back issues of our weekly electronic newsletter.

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GFOA Submits Comments on Proposed Revisions to Actuarial Standard of Practice

August 1, 2018

On July 31, GFOA submitted comments in response to proposed revisions to Actuarial Standard of Practice (ASOP) No. 4 by the Actuarial Standards Board (ASB). Click here to view the exposure draft detailing the proposed changes. While not responding to all suggested changes, GFOA’s comments focused primarily on the requirement for public pension plans to publish the Investment Risk Defeasement Measure (IRDM).

House Judiciary Committee Holds Hearing to Examine Impact of South Dakota v. Wayfair Decision

July 25, 2018

On July 24, the U.S. House Committee on the Judiciary held a hearing titled “Examining the Wayfair decision and its Ramifications for Consumers and Small Business.” The hearing mostly addressed what some believe is the pending “chaos” facing businesses as states look to implement the decision. GFOA was joined by other local government associations in submitting a statement for the hearing expressing support for the court’s decision to overturn the 1992 Quill decision and to highlight the importance of sales taxes for vital public services.

Retiring Chairman Releases Transportation Proposal

July 25, 2018

This week, retiring Chairman of the House Committee on Transportation and Infrastructure Bill Shuster introduced what is presumably the last policy proposal of his congressional career. The congressman’s desire to address infrastructure legislation is well known, and although he acknowledges that the chances of his proposal becoming law are slim, he believes it is a good place to start the conversation.

Infrastructure Week in DC

May 14, 2018

Infrastructure Week, a non-profit organization, convenes a national week of education and advocacy that brings together American businesses, workers, elected leaders, and everyday citizens around one message in 2018: Americans are waiting. The future won’t. It’s #TimeToBuild.

GFOA’s 2018 Awards for Excellence in Government Finance

April 30, 2018

(Chicago, Illinois – April 27, 2018) Government Finance Officers Association of the United States and Canada (GFOA) announced the winners of its 2018 Awards for Excellence in Government Finance. GFOA’s most prestigious award recognizes contributions to the practice of government finance that exemplify outstanding financial management. The award stresses practical, documented work that offers leadership to the profession and promotes improved public finance.

GFOA Awards Jeffrey L. Esser Career Development Scholarship

April 3, 2018

(Chicago, Illinois – April 3, 2018) Government Finance Officers Association (GFOA) has announced the recipients of its 2018 scholarships. GFOA’s mission is to promote excellence in state and local government financial management and the awarding of scholarships is one of the ways GFOA accomplishes its mission.

The recipients of the three awards for the Jeffrey L. Esser Career Development Scholarship are Celia King, Larissa Mendez, and Amy Miller. Each will receive $5,000.

GFOA Awards 2018 Scholarships

April 3, 2018

(Chicago, Illinois – April 3, 2018) Government Finance Officers Association (GFOA) has announced the recipients of its 2018 scholarships. GFOA’s mission is to promote excellence in state and local government financial management and the awarding of scholarships is one of the ways GFOA accomplishes its mission.

GFOA Awards Frank L. Greathouse Government Accounting Scholarship

April 3, 2018

(Chicago, Illinois – April 3, 2018) Government Finance Officers Association (GFOA) has announced the recipients of its 2018 scholarships. GFOA’s mission is to promote excellence in state and local government financial management and the awarding of scholarships is one of the ways GFOA accomplishes its mission.

The recipients of the two awards for the Frank L. Greathouse Government Accounting Scholarship are Erika Jex and Timothy Kelly. Each will receive $10,000.

Betsy Myers to Deliver Monday Keynote Address at GFOA’s 112th Annual Conference in St. Louis

March 11, 2018

Government Finance Officers Association’s (GFOA) 112th Annual Conference will be held May 6─9, 2018, at America’s Center Convention Complex in St. Louis, Missouri. Betsy Myers, leadership expert, speaker, consultant, and author of Take the Lead: Motivate, Inspire, and Bring out the Best in Yourself and Everyone Around You, will be GFOA’s keynote speaker on May 7, 9:00–10:10 am. 

Debt Committee Updates Green Bonds White Paper

February 14, 2018

The GFOA Committee on Governmental Debt Management has recently updated GFOA White Paper: Green Bonds. The paper helps issuers understand the general characteristics, costs, risks, and benefits of entering into these types of transactions. It also provides considerations for issuers contemplating the use of green bonds, such as project eligibility, use of proceeds, securing an independent opinion affirming the “green” qualifications of such projects, reporting obligations, and pricing. 

Thomas L. Friedman to Speak at GFOA’s 112th Annual Conference in St. Louis

January 29, 2018

Government Finance Officers Association’s (GFOA) 112th Annual Conference will be held May 6─9, 2018, at America’s Center Convention Complex in St. Louis, Missouri. Thomas L. Friedman, New York Times foreign affairs columnist, Pulitzer Prize winner, and bestselling author will be GFOA’s keynote speaker on May 8, 8:30–10:00 am.

Shawn Achor to Speak at GFOA’s 112th Annual Conference in St. Louis

January 12, 2018

(Chicago, Illinois January 12, 2018)

Government Finance Officers Association’s (GFOA) 112th Annual Conference will be held May 6─9, 2018, at America’s Center Convention Complex in St. Louis, Missouri. Shawn Achor will be the first of three keynote presenters at the conference. Achor will speak to all GFOA conference delegates and their guests on May 6, 3:50─5:00 pm (Welcome Reception to follow in America’s Center Convention Complex).

GFOA Members Recognized

December 19, 2017

Michael Bryant, who is management and budget director for Mecklenburg County (North Carolina) Government and GFOA Executive Board member, was awarded the 2017 A. John “Jack” Vogt Lifetime Achievement Award for Outstanding Commitment to the Advancement of Local Government Budgeting and Evaluation. The award is presented by the North Carolina Local Government Budget Association and recognizes innovators in advancing budget and evaluation practices.

GFOA Releases Guide on Best Practices in Community College Budgeting

November 29, 2017

Government Finance Officers Association’s (GFOA) latest guide, Best Practices in Community College Budgeting, provides a comprehensive budget process framework focused on alignment of resources and desired student outcomes. The framework represents the culmination of a multi-year effort led by GFOA, with input from numerous community college officials and other experts in education finance, to develop guidelines for better budgeting, tailored specifically for community colleges.

Tax Reform Bill Released, House Ways and Means Begins Markup Process

November 9, 2017

On November 2, 2017, House Ways and Means Committee Chairman Kevin Brady (R-Texas) released the much-anticipated tax reform bill H.R. 1, the Tax Cuts and Jobs Act. The comprehensive draft proposes substantial changes to the federal tax code governing individuals and corporations. As expected, the committee began the process of marking up the bill (i.e., considering potential changes) on November 6. When the process is completed, the bill is expected to go to the floor for a vote before the full House of Representatives.

GFOA Announces Members of Next Group 
of Alliance for Excellence in School Budgeting

November 1, 2017

(Chicago, Illinois November 1, 2017)

Government Finance Officers Association (GFOA) announced new members of its Alliance for Excellence in School Budgeting. The Alliance is composed of 38 school districts working with GFOA to implement the Best Practices in School Budgeting. Alliance members include districts from 20 states across the United States serving anywhere from several hundred students to over two hundred thousand students.

Alliance members include:

CA

  • Oakland Unified School District

CO

22nd Annual Governmental GAAP Update

October 5, 2017

(Chicago, Illinois – October 3, 2017) Government Finance Officers Association (GFOA) will offer its 22nd Annual Governmental GAAP Update web-stream event on November 2, 2017, and again on December 7, 2017, and January 18, 2018, from 1:00 to 5:00 pm (Eastern). The training will provide comprehensive coverage of the most recent developments in accounting and financial reporting for state and local governments, including: