Accounting and Auditing Year in Review

GFOA's Accounting and Auditing Year in Review provides conference attendees with an overview of changing standards and previews upcoming projects. During this perennial favorite, speakers will provide a comprehensive overview of the key developments in accounting, auditing, and financial reporting that affect state and local governments. Topics for this year include the new audit standards, GASB Statements 102, 103, and 104, and upcoming implementations with related practice issues, as well as developments related to current GASB projects likely to affect preparers and auditors in the near future.

Accounting in the Real World

Have you ever tried explaining governmental financial statements to people who've never heard of GASB? The curse of knowledge can make it difficult for us to understand the perspective of those who don't know as much as we do about a given topic. Our challenge is to break this curse so we can explain our work and its importance to people with a life. In this session, led by GFOA legend Stephen Gauthier, participants will receive the tools and insight to feel confident having these conversations. This is a must-attend for first-time conference attendees and everyone who wants a refresher on how to explain governmental accounting and financial reporting to a non-technical audience!

Achieving Financial Transparency

Almost all governments post financial reports to their website to inform the public and promote transparency goals. However, do these reports actually provide information that is timely, accessible, and informative for the community? With modern technology, leading governments can create dashboards that offer genuine financial transparency. This session will explain how you can develop your transparency portal, identify the most relevant data to publish, build links to your enterprise resource planning (ERP) system, and generate interest among the public. Speakers will also discuss lessons learned in establishing their own portal and how they overcame common legal, logistical, and technological hurdles.

Are We There Yet? The Financial Data Transparency Act

The Financial Data Transparency Act (FDTA), which was signed in 2022, changes the way governments must report their disclosures (in a structured data format) to the Municipal Securities Rulemaking Board (MSRB) Electronic Municipal Market Access (EMMA) system. Federal agencies are currently working through the rulemaking process to implement the act. The first round of regulations has set forth new entity identifier requirements and lays the foundation for how the Securities and Exchange Commission (SEC) will tackle specific reporting and other requirements for the municipal securities sector. This session will review the first round of rules and what to expect in the next year as the SEC and other federal agencies work on additional rulemaking. Additionally, panelists will discuss what governments should— and should not—be doing now to prepare for these new requirements.

Brace for Impact: Proposed Changes to Infrastructure and GAAP

This year, the Governmental Accounting Standards Board (GASB) issued preliminary views on major issues related to infrastructure assets that proposed sweeping changes to infrastructure reporting on financial statements, including elements of methods of valuation and additional note disclosures. In response, GFOA offered perspectives from members in accounting, capital planning, and debt management. In this session, panelists will discuss the proposed methodology changes, how this may comprehensively change reporting disclosures for issuers with infrastructure assets, and what you can do to prepare.

Complications with Capital Assets

Capital assets are often the largest assets reported by a government, yet accounting for them often takes place after fiscal year end. This session will cover the complexities related to accounting for capital assets, including proper journal entries for the sale, transfer, and disposal of a capital asset. Speakers will also discuss internal policies, such as capitalization thresholds and inventory protocol, and the new disclosure requirements from GASB 104.

The End of an ERA: Winding Down from ARPA

With the expiration of several huge COVID-19 pandemic era programs, government finance staff are tasked with winding down the largest federal funding packages ever received by local governments. This session will provide insight into the close-out requirements of the American Rescue Plan Act (ARPA) Fiscal Recovery Funds and other federal funding trends. Speakers will also discuss the 2024 Uniform Guidance updates and the 2025 Compliance Supplement and highlight strategies to assist governments in addressing common single audit challenges.

From Errors to Excellence: Correcting Common ACFR Deficiencies

GFOA members strive to meet a high standard for comprehensive and timely financial reporting, and overall, they do exceptionally well. GFOA's awards programs recognize almost 5,000 different governments for their achievements. However, no one is perfect and GFOA tracks common deficiencies that are noted in the annual comprehensive financial reports submitted to the Certificate of Achievement (COA) program. This session will highlight common areas for improvement, criteria with higher rates of nonconformance, and "asterisk" items that may prevent an organization from receiving an award.

Get Exposed: Future Concepts for Revenue Recognition

Raise your expectations! Changes are coming. Not today, not tomorrow, but before you know it, we will be re-evaluating revenue and expense recognition under an anticipated new principals-based model.  This session will cover the latest updates on this project work and how it's expected to provide structure to recognition and measurement of some very complex revenue streams.  The session will also highlight how common revenue streams would be impacted by the proposed guidance.

The Playbook on Qualitative Disclosures

Let's talk about disclosures that coordinate with, but don't actually tie to numbers in the statements. Disclosures on tax abatement agreements, conduit debt outstanding, unused lines of credit, and certain risk disclosures are required by GAAP and should be reviewed annually to ensure the information presented is complete and accurate. These disclosures present a challenge because they take time to draft and often require information from outside the finance office. This session will cover the requirements of these disclosures and examples from government preparers. Panelists will also discuss a current GASB project that might add a new qualitative disclosure to the financial statements: Going Concern Uncertainties and Severe Financial Stress.

Reflections in the Pool: Looking Back at Recent GASB Changes

A year after implementing GASB 100, governments were tasked with implementing GASB 101. While GASB 100 focused on the display and presentation of accounting changes and error corrections in the financial statements, GASB 101 changed the recognition and measurement of compensated absences liabilities. Join speakers as they reflect on their experiences preparing for and implementing these new standards. The session will also highlight trends from GFOA’s Certificate of Achievement (COA) program to help ensure governments are correctly meeting the accounting and reporting requirements.

To Be or Not to Be: Issues in Defining Materiality

The application of the materiality concept is important to understand in the preparation of financial statements. This session will discuss the framework of materiality thresholds that audit professionals must use and how various fund types are impacted by materiality. Attendees will also gain insight into how the Governmental Accounting Standards Board (GASB) incorporates the concept of materiality in making its cost-benefit determination for every pronouncement and the intent behind their disclaimer "the provisions of this Statement need not be applied to immaterial items."

All on the Same Team: Managing Relationships with Elected Officials

Working with elected officials can be one of the most difficult parts of a government finance professional's job. The challenges are many: earning and maintaining trust, explaining technical concepts, balancing competing or conflicting priorities, and gaining support for unpopular--but necessary--decisions. It's enough to overwhelm even the most seasoned finance professional. This session will feature a panel of  government leaders who have developed and maintained positive working relationships with their local elected officials. They will share their challenges, explain how they overcame them, and provide tips on how you can improve your working relationships with elected officials.

Be a Chef: Creating Your Own Recipe for Budget Success

A key tenet of GFOA's Rethinking Budgeting initiative is to encourage government budget professionals to think of themselves as chefs rather than as cooks. No two governments or communities are exactly the same, so what works for one may not work for yours. Rather than follow a specific checklist or recipe for budget success, GFOA encourages you to harness your inner chef and create your own recipe. This panel discussion will feature budget leaders who have embraced the role of chef and are experimenting with new budget ingredients and techniques to satisfy their stakeholders.

Budget in the Crosshairs: Using a Target Based Approach

Are you looking for a new approach to budgeting that can help you control spending growth, minimize budget gamesmanship, and promote autonomy within departments?  If so, target-based budgeting (TBB) could be the approach you’re looking for. With TBB, the budget office provides each department with a spending target for core services. This target is less than the total revenue forecasted. The difference between the spending target and the revenue forecast is the amount available for supplemental services. Departments can submit decision packages for the supplemental services funding. At this session, a panel of local government budget professionals who utilize TBB will discuss their experience, highlighting the challenges they have encountered, how they overcame those challenges, and the benefits they are seeing in their organizations.

Come Together: Building a More Collaborative Budget Process

Collaboration and trust are essential for governments to build and sustain thriving communities. Partnering with the public is important for understanding community needs, identifying solutions, and balancing competing priorities. Similarly, working together across departments can maximize the use of limited resources. Trust is crucial to ensure that all stakeholders participate in the budget process and unite to support shared goals. This session will highlight governments that have built structures to support a more collaborative budget process. Panelists will discuss the challenges they faced along the way, the strategies they used to overcome them, how they cultivated trust, and how other governments can learn from their experiences.

The Customer is Always Right: Defining and Managing Internal Services

Internal service functions like finance, budget, procurement, human resources, and information technology serve important internal customers. However, it can be difficult to develop policies, set clear expectations, respond to feedback, and deliver excellent results. It's also a challenge to allocate funding for these internal services when compared against programs that directly benefit the public. This session will examine the pros and cons of establishing internal service funds, discuss strategies for allocating costs, define program parameters, and highlight the role of service-level agreements in communicating with stakeholders and gaining organizational buy-in.

Getting Everyone on the Bus for Budget Reform

As a budget professional, you and your team are anxious to embark on a journey to improve your budget process and implement best practice. However, your chief executive and/or elected officials are not on board.  Knowing their support will be critical as you challenge the status quo and rethink past practice, what do you do?  At this session, hear from leaders who are reforming the budget process with the support of the C-suite and elected officials and those who had to work to get in that position. Speakers will provide strategies you can use to ditch the status quo and improve budgeting in your organization.

Get With the Program: Moving Away from Line-Item Budgets

The traditional local government budget is expressed in both departments and line items such as "salaries and wages," "materials and supplies," and "professional services." While these descriptions are often useful for monitoring spending and preparing financial reports, they often make it difficult for governments to have meaningful conversations about how best to spend its limited resources or to adjust levels of service to meet demand. One way to address these challenges is to adopt a program-based approach to budgeting. Rather than organizing the budget around who provides the service,  program-based budgeting communicates what an organization does (programs) and the value it can bring to the community (results) This session will feature speakers local governments that have adopted a program-based approach and provide tips on how your local government can "get with the program."

Information from the Real World: Understanding Public Priorities

Most best practice recommendations on budgeting suggest that governments should allocate resources aligned with your community's priorities. But how do you know what those are? And what if their priorities won't actually contribute to a thriving community? In this session, speakers will discuss the advantages and disadvantages of a variety of methods used to gauge public sentiment. While this should not be the only consideration when making planning and budgeting decisions, it is often useful to understand how well the government is meeting the public's expectations. Using local government case studies, this session will show how your organization can collect feedback from all parts of the community to help inform its decision-making.

Level Up: How to Get Your Budget Stakeholders to Stop Playing Games

Earlier this year, GFOA released a report that delves into the tactics or “games" used by participants in the budget process to secure more resources, such as "The Padding Play," where budget requestors inflate their needs. This session will outline the other games budget officers encounter and provide advice on how to contain and even defeat these tactics. Panelists will share how they have leveled up their budget leadership skills to establish a budget process and decision-making environment that discourages gameplay.

Telling Your Budget Story

Budgeting involves the process of estimating costs and revenues, allocating limited resources among competing needs, balancing community expectations with service-level realities, and driving results for the community. Finance professionals need to possess a variety of technical and leadership skills to navigate the budget process, conduct accurate analysis, and promote effective decision making. However, it often takes a completely different skill set to communicate these decisions to those without detailed budget and finance knowledge. Attend this session to learn from communication experts how to improve your budget story and effectively deliver key budget messages. This session will cover how to avoid budget jargon, identify what is most important to communicate, consider alternatives to the standard budget document, and engage your audience.

Don't Pay More for Less: Strategies for Improving Healthcare Options

Governments, like many other employers, face constant challenges to both improve healthcare options available to employees and control the cost of services. Do governments have alternatives beyond paying more, grappling with complex policies, and minimizing disruption to employees and their families? This session will explore a variety of innovative approaches that governments have used to save money on healthcare costs and enhance employee benefits. Speakers will discuss the use of employee clinics, telehealth, wellness programs, use of health saving accounts, performance guarantees, specialized insurance plans, and more. Attend this session to develop a strategy to both improve service and ensure long-term sustainability.

Ignoring the Bright Lights: Going Beyond the Funded Ratio

When examining pension plans, many stakeholders and the media tend to zero in on one particular number: the funded ratio. However, the funded ratio tends to be an oversimplification of each pension plan that leaves out important details for plan health, funding, and their trajectories over time. Attend this session to hear a discussion on funding levels of retirement plans, related public perception, and what is truly important about achieving funding goals and plan affordability over time.

Enhancing Issuer Disclosure Practices

Governments must be mindful of securities laws and disclosure responsibilities that come with issuing debt and managing their debt portfolios, including preparing the official statement, monitoring continuing disclosure obligations, providing voluntary disclosures to the market, and implementing a strong investor relations program. Additionally, governments need to be aware of possible changes to disclosure reporting requirements that the federal government may implement in the near future. At this session, you will learn practical ways to review your current disclosure practices and ensure that the key tenets of GFOA’s disclosure best practices are embedded in your policies and procedures. The session will also feature case studies and demonstrations to help governments realize the potential benefits of a robust disclosure program as part of their overall debt management responsibilities. 

Exploring the Impact of Tax Code Changes on the Municipal Bond Market

This year's Congress ushered in significant shifts in economic policies, fiscal priorities, tax implications, and market dynamics. This timely panel will highlight the political climate in Washington, DC, and the impact of the election on the municipal bond space. Our panelists will have an in-depth discussion on how the conversations about immigration, climate, and tax reform will shape the municipal bond market and other funding streams. Whether you are managing your organization's debt, treasury functions, or budgets, this session will provide essential insights to help you adapt to the evolving market.

Inside Information: Investor Insight for Issuers

Investors have had a strong appetite for municipal bonds in recent years. This has helped governments consistently access capital markets at low rates. Understanding how issuers view the market is important for finance professionals and can help influence your government's strategy. Additionally, finance professionals should be aware of changing market conditions, what to expect in 2025, and how the market may react to possible federal tax policy changes that could impact the tax-exemption of bonds. Speakers will discuss these shifts to help issuers understand market dynamics and how to best strategize for their next municipal bond opportunity.

Never a Dull Moment: Reflections and Predictions on the Muni-Market

"It’s an interesting time to be alive in the muni-market" should be a 2025 tagline. With policy and market changes and nearly every corner of muni-land having something to say, it's important for issuers of municipal securities to be aware of these conversations and understand how these big-picture issues may affect their own debt programs. At this session, industry leaders and experts will share their impressions of what 2025 has brought thus far and what to expect for the rest of the year and beyond. Whether it's Washington policymakers, Wall Street dealmakers, or the numerous factors affecting how projects can get done in your jurisdiction, this panel will shed insights on the key areas that are gaining traction in the municipal market.

Welcome to the Club: Small Issuer Compliance

Governments that infrequently issue debt and/or issue small amounts have unique challenges in the market and in handling their debt management program, yet they face the same reporting requirements as larger, more frequent issuers. This session will review GFOA’s best practices that focus on key elements for small governments, as well as market factors and practices that have traditionally been beneficial to this population of issuers. Speakers will provide strategies to assist small governments with their financing decisions, share lessons learned from case studies of other governments, and help participants better understand the options that may exist, along with their relative advantages and disadvantages compared to going into the market alone.

Cyber Risk Savvy: GFOA's 2025 Cybersecurity Update

Protecting an organization is not only an IT function. Finance professionals are critical stakeholders in any government's approach to prevent, respond to, and clean up cyberattacks. In this session, speakers will provide an update on the cybersecurity landscape specifically focused on the role of finance professionals. Topics covered will include the latest on emerging threats, the role of artificial intelligence, managing risks related to suppliers and contractors, the value of cyber insurance, and the changing global landscape for cyber criminals. Attend to determine what you need to do to prepare your organization.

Overcoming ERPphobia: How to Confront Your Next Project

For many finance professionals, embarking on an enterprise resource planning (ERP) project is not something they look forward to undertaking. Long hours, cost overruns, difficult vendors, and resistance to change are not pleasant experiences. However, with careful planning and a focus on organizational readiness, governments can take much of the pain out of ERP. In this session, speakers will provide participants with actionable strategies and insights to navigate the complexities of ERP implementation successfully. Topics for discussion include how to modernize policies, strategies for converting data, building a project budget, and working closely with end users to achieve ERP project success.

GFOA's 2025 Federal Advocacy Update

Some things change, and some things stay the same—so they say. In 2025 with a new Congress and new administration, GFOA's Federal Liaison Center (FLC) in Washington, DC, is advocating to maximize state and local flexibility and to minimize unfunded mandates. At the same time, the FLC is also pursuing opportunities to advance initiatives on behalf of GFOA's members to Congress, the administration, and the Supreme Court. GFOA's policy advocacy programs depend on member input and are informed by challenges and opportunities experienced by professionals working in public finance across the United States. Attend this session to learn about GFOA initiatives and share insights to help shape future policy advocacy.

Navigating FEMA Before and After a Disaster

At some point, all communities will eventually face natural disasters that challenge even the most prepared teams and best made plans. For decades, local governments have partnered with the Federal Emergency Management Agency (FEMA) to provide resources when communities are at their most vulnerable point. However, accessing the full extent of these programs can be difficult, complex, and confusing. Attend this session to hear about the federal resources available to help communities when disaster strikes, how this may be changing in the future, and lessons learned from other governments navigating FEMA's policies and procedures.

Black Caucus Annual Business Meeting

GFOA's Black Caucus is dedicated to supporting the aspirations and achievements of African American public finance officers, to pursuing professional development opportunities for our members, and to sponsoring projects to assist African Americans seeking careers in government finance. The annual business meeting provides an opportunity to learn about the previous year's activities, preview what's to come, and hear from guest speakers on topics important to the Black Caucus.

Mentoring Made Easy

Many governments have identified a need to retain top talent and develop the next generation of leaders. Mentoring is a proven strategy that helps with both, while also improving employee engagement and fostering a better internal team culture. However, few organizations have built and sustained effective mentorship programs. In this session, leaders from different types of governments will discuss lessons learned from establishing a mentorship program and provide strategies that all governments can use to follow their lead.

Rise Together: Leadership Through Collaboration with GFOA’s WPFN

In alignment with GFOA's Women's Public Finance Network's (WPFN) 2025–2026 theme, "Rise Together," this session focuses on how women in public finance can leverage their leadership skills to foster collaboration and mentorship within their organizations and communities. Attendees will explore strategies for building inclusive networks, empowering peers, and sharing knowledge to collectively elevate their teams and the profession. Through real-world examples and interactive discussions, participants will leave inspired to apply their leadership journey toward uplifting others. This session is open to all conference attendees.

Why I'm a Finance Officer

There is no single path to becoming a finance officer. GFOA's 25,000+ members have just as many different motivations, stories, and journeys that have led them to this stage in their careers. However, they all now share the responsibility for maintaining trust, supporting their community, and working to build sustainable organizations despite increasing pressure from political polarization, workforce challenges, and overall distrust of government. During this session, hear from several finance professionals about their career progression, how their experience puts them in a position to deal with current challenges, and what drives their dedication to the profession.

Young Professionals Network: Leadership Skills to Accelerate Your Career in Public Finance

This session is designed for aspiring and current leaders in government finance who aim to accelerate their careers and enhance their leadership impact. Participants will explore essential qualities that define successful leaders in the public finance sector. Panelists will discuss various leadership styles, strategies for navigating organizational dynamics, and methods they have used to influence positive change within their organizations. Attendees will gain insights into balancing fiscal responsibility with public service mandates and learn how to overcome common obstacles to drive organizational success.

Kickstarting Results: Applying Procurement Principles to Grants Management

Thriving communities are not the focus of governments alone. For many communities, non-profits, faith based organizations, small businesses and other community based institutions share similar goals. Providing grants to community-based organizations and small businesses can be an effective way for governments to meet their goals, but only if they take a strategic approach. To ensure they are maximizing their investment, governments must define their goals and objectives, solicit and review speakers will discuss their experience in budgeting for grant programs and how awarding grants to community  organizations, can ensure

Bigger and Better: GFOA's New Approach to Membership

GFOA provides education, networking, mentorship, certification, career development, and many resources for members. However, we also realize that in many organizations, formal membership in GFOA is only provided to the most senior level positions in the finance department. GFOA focuses on building financial management skills across entire organizations and is redefining its approach to membership. Attend this session to learn how you can extend the value of your GFOA membership and help others in your organization join GFOA's network.

The Future of Water: Finance and the Path to Sustainability

Financial sustainability ranked among the top challenges identified in the American Water Works Association's (AWWA) 2024 State of the Water Industry Report. AWWA has created a Water 2025 Vision to promote a more sustainable and resilient future for the water industry and the critical service it provides to all our communities. Attend this session to better understand how you can get involved and prepare your organization to address critical questions related to building appropriate infrastructure, mitigating risks from natural and human caused disaster, pricing services, avoiding economic burden on our most vulnerable communities, and building and maintaining public trust. This session provides a glimpse into our water future through the lens of financial sustainability, innovation, and partnerships.

Homemade Solutions: How to Solve the Housing Crisis

Housing is an issue challenging governments across North America. The circumstances in every community are slightly different, but the questions are similar. Do we have enough housing? Where should we build more? What type is needed? How can we keep it affordable? How affordable is affordable? Do we have the infrastructure to support it? In any case, housing is a problem that single governments cannot fix on their own. Doing so will require partnering with nonprofit organizations, private developers, and other governments. This session will highlight governments that have developed initiatives to address their housing challenges, with a focus on what resources are needed and how local government finance professionals can play a role in providing their communities with more housing options.

Public-Public Partnerships: Case Studies in Small Government Service Sharing

Small governments are often faced with the same complex challenges as larger ones, but usually with far fewer resources. Budgets are strapped, staff are pulled in too many different directions, and community needs are multiplying. So what's a small government to do? Rather than ignore their problems, hope they'll go away, and let the next person in charge figure it out, small governments can partner to share resources. This session will highlight examples of such "public-public partnerships," including how they were formed and how each of the partners are benefiting.

Smart Cities: Rethinking the Role of Technology in Everyday Life

The concept of "smart cities" isn't limited to large urban centers; it's about leveraging technology to enhance the quality of life and operational efficiency in any community. This session invites finance professionals from local governments of all sizes to explore how integrating technologies—such as Internet of Things devices, data analytics, and digital services—can transform financial management and service delivery. Attendees will learn how to lead technology initiatives that align with their community's needs and resources. By demystifying "smart city" concepts, this session makes technology integration accessible and practical for towns, cities, and counties alike.

Big Questions for Small Governments: Appropriate Reserve Levels Based on Risk

Governments of all sizes must deal with a growing list of threats to the community, including natural disasters, infrastructure failures, disease outbreaks, and public safety emergencies, but smaller organizations are particularly susceptible to the financial impacts of these risks. Small governments can mitigate these impacts by conducting a risk assessment and developing reserves. Panelists will discuss the importance of having reserves, developing policies to govern their use, and ensuring that reserves are a part of an overall risk mitigation strategy focused on business continuity and financial sustainability. This session is sponsored by GFOA's Small Government Forum and will include a brief business meeting of the group and provide an opportunity for member networking.

Unknown Unknowns: How to Plan for New Risks

In an era of escalating challenges and complex threats, governments must be prepared for a range of risks that can disrupt communities and strain resources. This session will delve into the most significant emerging risks facing local governments today, such as natural catastrophes, cybersecurity threats, and the elusive "unknown unknowns" that can arise without warning. Speakers will discuss the importance of maintaining robust rainy day funds, securing appropriate commercial insurance, and developing financial strategies to mitigate these risks. Attendees will learn how to enhance their financial resilience through proactive fiscal management, ensuring their communities are well prepared to face both foreseeable and unforeseen challenges.

Dude, Where's My Money? Safeguarding Public Funds

Money is constantly flowing in and out of your government. Sometimes that money is held by an intermediary for a matter of hours or minutes or for longer periods of time. Governments need to know not only where their money is being held—in bank accounts, with custodians, with merchant providers, etc.—but also understand if that money is safe. This session will highlight how to conduct due diligence on financial services providers and develop strong policies and processes to ensure that public funds are safeguarded and best serve your organization.

Treasury Charcuterie: Nibbles for the Finance Professional

Is it difficult to keep up with the many changes to new technology, emerging trends, banking services, and best practices? This session is intended to provide a treasury charcuterie of bite-sized discussions on key subjects. Speakers will discuss topics such as the collateralization of deposits, technology to assist with cash flow forecasting, managing credit card chargebacks, the use of custodians and safekeeping, and the continued perils of cryptocurrency. Attend to listen to the discussion or contribute topics for the panel to address.

Who Does What: Public Investment Professionals

Governments engage with many different external service providers who all play a role in managing their investment program. These providers include investment advisers, broker-dealers, as well as custodians or safekeeping agents. This session will review GFOA’s best practices and resources on selecting and managing these external investment professionals. After this session, you will know the right questions to ask to determine the investment professionals your organization needs to support its investment program.