GFOA Best Practices/Advisories
GFOA Best Practices identify specific policies and procedures that contribute to improved government management. They aim to promote and facilitate positive change or recognize excellence rather than merely to codify current accepted practice. GFOA has emphasized that these practices be proactive steps that a government should be taking. Best practices are applicable to all governments (both large and small). Best practices are approved by the GFOA executive board and represent the official position of the organization.
GFOA Advisories identify specific policies and procedures necessary to minimize a government’s exposure to potential loss in connection with its financial management activities. For many advisories, GFOA will be providing specific recommendations on how to avoid risk or loss, either proactively or retroactively, in response to current events or trends. Advisories are approved by the GFOA executive board and represent the official position of the organization.
Association of Public Treasurers of the US and Canada
APT US&C offers educational and certification opportunities to public sector treasury and investment professionals, including various ongoing accreditations such as the Certified Public Finance Administrator (CPFA) and the Certified Public Funds Investment Manager (CPFIM). APT US&C also provides certifications for organizations, not individuals. APT US&C certifies investment, debt, cash handling and disaster preparedness policies.
APT US&C policy certifications Going through a disciplined process to create your policies, and then having them reviewed and certified may show stakeholders that your organization is prepared and that you have policies in place that have received a national stamp of approval.
GFOA Launches Economic Indicator DashboardRead more
Laurence Msall wrote a column for Crain's Chicago Business, May 8, 2020, asserting that no state or local government can weather this crisis on its own. His argument is that to exclude Illinois, Chicago or other major governments from future rounds of federal relief because of past bad fiscal decisionmaking are misguided and threaten full national economic recovery.Read more
The safety of public funds should be the primary investment objective of all governments. One of the most important protections and a control against fraud is the separation of the safekeeping function from the investment function.Read more
The Federal Reserve left rates unchanged at its April policy meeting, while its statement addressed the dramatic deterioration of the economic outlook since their last meeting in March and made clear they are “committed to using its full range of tools to support the U.S. economy in this challenging time.” The committee kept the interest rate paid on required and excess reserves unchanged at 0.10%.Read more