Government Finance Review

Magazine covers financial management for state and local government through articles and commentary on best practices, management and more.

Articles from Vol. 25, No. 4, August

Are Demographics Destiny?
Boom or Bust: Understanding and Profiting from a Changing Consumer Economy By Douglas C. Robinson and Charles L. Sizemore iUniverse 2009, 203 pages, $18.95 [ILLUSTRATION OMITTED] Boom or Bust builds on the groundbreaking work of financial...
As Budget Gaps Increase, Citizens Rate Local Governments More Favorably Than State Governments
As the economy continues to create challenges for state and local governments, citizens' ratings of their local governments have remained relatively stable while favorability ratings of state governments have declined from a year ago. By a nearly two-to-one...
As Budget Gaps Increase, Citizens Rate Local Governments More Favorably Than State Governments
As the economy continues to create challenges for state and local governments, citizens' ratings of their local governments have remained relatively stable while favorability ratings of state governments have declined from a year ago. By a nearly two-to-one...
Attracting Young Professionals to Careers in Local Government
A version of this article originally ran in the June 2009 issue of Canadian Finance Matters, the GFOAs Canadian newsletter.Municipal governments everywhere are concerned with attracting younger workers. One way to do this is for municipalities to form...
Attracting Young Professionals to Careers in Local Government: When Trying to Attract Younger Workers, Governments Need to Concentrate on Partnerships with Universities and Colleges to Ensure Their Programs Are Responsive to Municipal Needs
A version of this article originally ran in the June 2009 issue of Canadian Finance Matters, the GFOA's Canadian newsletter. Municipal governments everywhere are concerned with attracting younger workers. One way to do this is for municipalities...
Automation Leads to Improvements in Ohio: Deferred Compensation Project
The Ohio Deferred Compensation on Ohio Business Gateway program won a 2008 GFOA Award for Excellence in Government Finance.The Ohio Deferred Compensation Program, which administers the 457 plan for all state and local government employees in Ohio, was...
Automation Leads to Improvements in Ohio Deferred Compensation Projects
[ILLUSTRATION OMITTED] The Ohio Deferred Compensation on Ohio Business Gateway program won a 2008 GFOA Award for Excellence in Government Finance. The Ohio Deferred Compensation Program, which administers the 457 plan for all state and local...
Building an Integrated Performance Management System in the City of Philadelphia
In 2007, Philadelphia's mayor campaigned on a platform of making city government more transparent, accessible, and accountable. Upon election, he charged his newly appointed managing director with the task of creating an integrated performance management...
Building an Integrated Performance Management System in the City of Philadelphia: Implemented in Just 10 Months, Philadelphia's Interconnected Stat and 311 Systems Provided Positive Results Right Away
[ILLUSTRATION OMITTED] In 2007, Philadelphia's mayor campaigned on a platform of making city government more transparent, accessible, and accountable. Upon election, he charged his newly appointed managing director with the task of creating an integrated...
Business Intelligence for Government Transparency: Where the Money Goes
The state of Texas' Where the Money Goes program won a GFOA Award for Excellence in 2009.Government spending is often seen as impenetrable and unknowable. But taxpayers have the right to know how their money is spent, so government must be held accountable.The...
Business Intelligence for Government Transparency: Where the Money Goes: The Transparency and Spending Strategies Adopted by the State of Texas Could Serve as Templates for Other Government Initiatives
The state of Texas' Where the Money Goes program won a GFOA Award for Excellence in 2009. Government spending is often seen as impenetrable and unknowable. But taxpayers have the right to know how their money is spent, so government must be held...
Common Errors in State and Local Government FICA and Public Retirement System Compliance
[ILLUSTRATION OMITTED] Many state and local government employers and employees are confused by the Federal Insurance Contribution Act (FICA) tax and public retirement system obligations. This employment tax, which is the basis for Social Security...
Economic Trends
Many people are paying more attention to economic trends than they did before the credit meltdown. Financing the Future News. Long-Term Financial Planning Resources, Notices, and Events--an electronic newsletter from the GFOA's Research and Consulting...
Financial Strategies for Challenging Times: 2009 Annual Conference Recap
The Government Finance Officers Association (GFOA) held its 103rd Annual Conference, "Financial Strategies for Challenging Times," in the City of Seattle, Washington, on June 28-July 1, 2009. More than 5,500 people attended the conference at the Washington...
Financial Strategies for Challenging Times: 2009 Annual Conference Recap
The Government Finance Officers Association (GFOA) held its 103rd Annual Conference, "Financial Strategies for Challenging Times," in the City of Seattle, Washington, on June 28 - July 1, 2009. More than 5,500 people attended the conference at the Washington...
Future Cost versus Market Value: The Great Debate over Pension Valuation
[ILLUSTRATION OMITTED] For several years, the actuarial community has debated the proper way to calculate the value of pension obligations. This had been settled in the actuarial profession's worldview many years ago. However, over the last decade...
Managing the Personnel Budgeting Process
Given the revenue constraints most governments are facing, increased emphasis is being placed on accurate expenditure projections. Since salaries make up the greatest portion of the expenditure budget, it is logical to apply forecasting techniques that...
Managing the Personnel Budgeting Process: Since Salaries Make Up the Greatest Portion of the Expenditure Budget, It Makes Sense to Apply Forecasting Techniques That Can Show Where Payroll Dollars Are Headed
Given the revenue constraints most governments are facing, increased emphasis is being placed on accurate expenditure projections. Since salaries make up the greatest portion of the expenditure budget, it is logical to apply forecasting techniques...
Measuring Efficiency Efficiently
Where are the efficiency and productivity measures? I don't see any." I heard this critique a few weeks ago when discussing with a friend the City of Boston's newly posted quarterly performance reports, dubbed Boston About Results. He was right. There...
"New Normal" Retirement Plan Designs: Re-Engineering and Installing Sustainable Pension and OPEB Plans
[ILLUSTRATION OMITTED] The national economic malaise and the 2007-2009 bear market in stocks have combined with a decade of mistaken optimism to create the "perfect storm" in public-sector retirement finances. Some public officials who once thought...
Pension Reform in San Diego
[ILLUSTRATION OMITTED] During the dot-com boom, the stock market was mushrooming and there was no end in sight. The euphoria was so great that people forgot about market cycles and corrections. As a result of rising stock prices and strong real...
President's Message
It is an overwhelming, humbling, and incredible honor to serve as your 103rd President. The Government Finance Officers Association has been blessed over the past 102 years with leaders whose vision and commitment to this membership created a foundation...
President's Message
It is an overwhelming, humbling, and incredible honor to serve as your 103rd President. The Government Finance Officers Association has been blessed over the past 102 years with leaders whose vision and commitment to this membership created a foundation...
Regulatory Initiatives Take Center Stage
As Congress and the Obama administration continue to focus their attentions on legislative matters such as health care and regulatory reform, for states and localities, actions by several regulatory agencies - the Municipal Securities Rulemaking Board,...
Regulatory Initiatives Take Center Stage: For States and Localities, Actions by the Municipal Securities Rulemaking Board, the Securities and Exchange Commission, and the Office of Management and Budget Have Taken Center Stage
As Congress and the Obama administration continue to focus their attentions on legislative matters such as health care and regulatory reform, for states and localities, actions by several regulatory agencies--the Municipal Securities Rulemaking Board,...
The GFOA's New President-Elect and Executive Board
The Government Finance Officers Association is governed by an 18-member executive board, which consists of 15 members-at-large serving staggered three-year terms, the current president, the previous year's president, and the president-elect. At the...
The GFOA's New President-Elect and Executive Board
The Government Finance Officers Association is governed by an 18-member executive board, which consists of 15 members-at-large serving staggered three-year terms, the current president, the previous year's president, and the president-elect. At the association's...
The GFOA Weighs in on Pensions
At the end of March, the Governmental Accounting Standards Board (GASB) issued an Invitation to Comment (ITC) document on Pension Accounting and Financial Reporting. The ITC invited interested parties to comment on certain crucial aspects of accounting...