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. 22, No. 2, April

A Century of Governmental Accounting and Financial Reporting Leadership
For 100 years, the Government Finance Officers Association has been a leader in promoting sound accounting and financial reporting practices by state and local governments. In fact, it was this very same objective that led to the association's creation...
A Century of Progress in Government Finance
from the executive directorCentennial celebrations offer a chance to look back as well as to consider the future in light of past achievements. The 100th anniversary of the founding of the organization that became the Government Finance Officers Association...
A Global GFOA
"You are not here merely to make a living. You are here to enable the world to live more amply, with greater vision, and with a finer spirit of hope and achievement. You are here of enrich the world. You impoverish yourself if you forget this errand."-...
Celebrating 100 YEARS OF GFOA
In November 1903, the U.S. Census Bureau hosted 26 state and local government finance officials in the parlors of the Ebbitt House in Washington, D.C. The stated purpose of this meeting was "to discuss and perfect methods of securing, so far as practicable,...
DISCLOSURE: Managing the Debts of Public Entities
The economic well being of our states and localities depends on the continuing construction and maintenance of basic infrastructure such as roads, schools, housing, public utilities, and transportation systems. GFOA has always led the effort to preserve...
Economic Development
Economic Development It's Not Just for Big Ticket Items Anymore Economic Development for Small Communities: A Handbook for Economic Development Practitioners and Community Leaders Robert W. Shively, CEcD National Center for Small Communities www.smallcommunities.org/ncsc...
Events That Happened in 1906
* Dow Jones closes above 100 for the 1st time (1/12/1906)* Great San Francisco earthquake destroys 75 percent of city & kills nearly 4,000 (April 18, 1906)* WK Kellogg & Ch Bolin found Battle Creek Toasted Corn Flake Company (2/19/1906)* John...
Expanding Areas of Expertise Put New Demands on Finance Officers
Those who have worked in government finance over the past 25 years have experienced significant changes in their careers, organizations, and communities, ranging from cultural to technological. The next 25 years and beyond will likely make the recent...
Generational Shift
How Emerging Managers Will Alter the Government Finance Leadership ParadigmHow will the leadership styles of the new generation alter the management landscape?Josh has been with the General Services Administration, Inc. for the past eight years. A finance...
GFOA'S Most Famous Headquarters Building
In 1938, the Municipal Finance Officers Association moved its headquarters to 1313 E. 60th Street in Chicago's Hyde Park neighborhood. The Encyclopedia of Chicago' records the following entry about this building:"... the Public Administration Building,...
Leading the Way to Better Budgeting
Based on the norm of annual budgets and a current estimate of about 87,500 governmental units in the U.S. alone (in 1930 there were more than 175,000 reported governmental units), a conservative 100-year estimate is that there have been more than 9 million...
Managing & Safeguarding the Public's Money
In public finance, the adage "the more things stay the same, the more they seem to change" holds true. Protecting public funds and managing them wisely has always been the primary directive of the finance officer. No other responsibility in municipal...
New Guidance on Audit Committees
In light of recent private-sector developments, GFOA's Executive Board approved a revised and expanded recommended practice on audit committees.In 1997, the Government Finance Officers Association (GFOA) formally approved for the first time a recommended...
Performance Management and the Modern Budget Office
Organizational change is an important component of successful implementation of a performance management system.Local governments across the country are working to strengthen their budget processes by integrating the principles of performance management....
PRESERVING THE FUTURE: GFOA's Guidance Role in Pensions
Throughout GFOA's history, its members have shaped the evolution of public employee retirement and benefits plans in North America, reflecting the stakeholders' need for professional guidance, and the membership's desire to respond to state and federal...
President Submits FY07 Budget to Congress
For local governments, the President's budget proposes cuts to important programs.President Bush submitted to Congress his $2.77 trillion budget proposal for fiscal year 2007 in early February. The President's proposal would increase overall spending...
The Art of Being a 22nd Century Finance Director
We opened our second century in 2006 solidly in the physical world of hardwire Internet and computer chips, new accounting models, and expanded responsibility for less tangible concepts like funded pension plans and other postretirement benefits. The...
The First President's Address
A CENTURY OF PROGRESSDelivered September 26, 1906, bySamuelB. Williams, City Comptroller, Rochester, New YorkTo the Officers and Members of the National Association of Comptrollers and Accounting Officers:GENTLEMEN:I was highly honored at the preliminary...
What to Do with a Windfall
Lessons from a CEO MayorPrudence - putting the city's long-term interests ahead of short-term political gain.Let's face it. Most mayors didn't major in finance in college, so when one who did - and who went on to a successful career in Wall Street and...
Who Are the Parties in My Deal?
What are Their Roles? How Do I Sell My Bonds?The fundamental relationship between the underwriter and issuer is one of competing objectives and as public servants it is our responsibility to ensure our costs of debt repayment are the most favorable.Who...