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Weekly UpdatesThe GFOA held its 102nd Annual Conference, "Building a Sustainable
Future," in the City of Fort Lauderdale, Florida. More than 7,000 people attended the conference at the Greater Fort Lauderdale/Broward County Convention Center on June 15-18; of those, 4,000 were delegates.
GENERAL SESSIONS
The mayor of Broward County, Lois Wexler, welcomed delegates to the second largest county in Florida. In her closing remarks, she proclaimed Monday, June 16, 2008, as "Government Finance Officers Association Day" in Broward County
GFOA President Charles Cox reflected on his term as president. He noted that his interaction with the association's members throughout the past year has given him a greater understanding of the many challenges finance officers face today
Mary Matalin
Mary Matalin, political strategist and consultant, addressed delegates as the keynote speaker at Monday's general session. In addition to her career in public service, Matalin hosted CNN's critically acclaimed debate show, Crossfire, and has been a political commentator on television and radio. She has also written articles for Newsweek and The Los Angeles Times and written several books, including the best-selling political campaign book, All's Fair. Love, War, and Running for President, co-written with her husband, political consultant and commentator James Carville.
In her speech, "Policies and Platforms: The 2008 Election," Matalin focused on the diversity of the presidential candidates; shifting demographics; and technological changes that are creating an election without precedent. She discussed the major issues concerning voters: global relations, food, energy, the economy, and the war. Matalin high-lighted how this is the first election in which voters appear to be deciding their ballot as they vote. She encouraged the media to increase the level of substance in its political coverage and for voters to stay informed of the issues. Matalin also noted that governmental actions must be consistent to create trust in citizens, and she thanked finance officers for working toward building that trust.
Dr. Donna Shalala
Dr. Donna Shalala spoke to GFOA members as the keynote speaker at Tuesday's general session. Dr. Shalala is best known as the longest-serving U.S. Secretary of Health and Human Services, a position she held from 1993-2001. Shalala has held numerous professorships and is a leading scholar on the political economy of state and local governments. In 2007, she was chosen to co-chair the Commission on Care for Returning Wounded Warriors. Currently, Shalala is president of the University of Miami, where she is also a professor of political science.
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In Shalala's speech, "Civility and Citizenship," she discussed connections between the upcoming presidential election and the current status of public service as a profession. Shalala also focused on the challenges employers face today, including how to recruit a younger workforce, manage an increasingly multi-ethnic work population, survive the economy downturn, and provide health-care coverage to employees. When asked what could be done at the state and local levels of government to help with the nation's health care, Shalala advised finance officers to design communities that force citizens to walk; to promote acts that support clean water and the construction of safe buildings; and to urge community members to exercise, eat healthy, and quit smoking.
CONCURRENT SESSIONS AND DISCUSSION GROUPS
The GFOA held 66 concurrent sessions spanning the major public finance disciplines: accounting, auditing, and financial reporting; budgeting and financial planning; cash management and investing; debt management; management and policy; pension and benefits; and technology and digital government.
This year's 15 discussion groups featured topics such as OPEB implementation, performance measurement and management tools, and debt issuance.
EXHIBIT HALL
This year's exhibit hall included 187 exhibiting companies. Attendees had the opportunity to view products, ask questions, and watch live demonstrations of the latest products and services to save their governments time and resources.
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BUSINESS MEETING
New GFOA Executive Board
At the annual business meeting on Tuesday, the membership elected Paul A. Macklem, director of financial services, City of Kelowna, British Columbia, as president-elect of the GFOA. Also elected were five new members-at-large to the GFOA's Executive Board: Michael E. Bailey, Christopher P. Morrill, Catherine R. O'Connor, Rhonda S. Smith, and David B.Vehaun. Their profiles begin on page 6.
Approved Public Policy Statements
The GFOA membership voted on and approved five policy statements that had been developed by the GFOA's standing committees in January 2008 and approved by the Executive Board at its winter meeting.
Two of the new policies were developed by the Committee on Governmental Debt Management. The first, Federal Home Loan Banks (FHLB) as Providers of Tax-Exempt Letters of Credit, supports legislation that would allow Federal Home Loan Banks to offer letters of credit to municipal bond issuers without jeopardizing the tax-exempt status of the bonds. The second, Patenting of Tax Strategies and Techniques in Public Finance, speaks to the emergence of tax patents being issued for business practices and tax strategies, including municipal bond transactions. The policy calls for the GFOA to support legislation that would prohibit the patenting of such practices. Without such legislation, state and local governments could be subject to greater issuance costs, possible penalties, and patent litigation exposure, and could be precluded from executing their own transactions.
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The two approved policies from the Committee on Retirement and Benefits Administration are revisions of previous policies: Direction of the Investment of State and Local Government Retirement Systems and Governing Statutes for Public Pension Plan Investments. The revisions reflect the recent development of other post-employment benefit trusts.
The final approved policy, Taxation of Remote Commerce (formerly Taxation of Interstate Mail Order Sales, originally adopted by the GFOA's membership in 1986),was revised by the Committee on Governmental Budgeting and Fiscal Policy The new policy maintains that collection of taxes on remote sales should be mandated, and furthermore states that the appropriate tax--based on the purchase price of the good or service--should be collected and remitted to local governments.
International Delegations
International delegations from Brazil, Georgia, Israel, South Africa, and Sweden were recognized by the membership at the annual business meeting.
New GFOA President
Charles Cox passed the presidential gavel to Kenneth L. Rust, chief administrative officer, City of Portland, Oregon. During his acceptance speech, Rust thanked the individuals who were instrumental in his development as a government finance officer. He encouraged attendees to take advantage of the GFOA's recommended practices, publications, and training as resources to enhance their skills and to help them manage their finances during this time of fiscal stress.
Awards for Excellence
The GFOA's most prestigious award recognizes contributions to the practice of government finance that exemplify outstanding financial management. The awards stress practical, documented work that offers leadership to the profession and promotes improved public finance.
This year, seven jurisdictions were recognized for contributions to the profession of public finance, including one Louisville Award. The Louisville Award for Financial Innovation is given to governments in recognition of an exceptional accomplishment introducing a new concept or technique that has enduring value to the government finance profession. This year's Louisville Award went to the City and County of San Francisco, California, for "Bank on San Francisco."
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The winners of the 2008 Awards for Excellence were: the City and County of Denver, Colorado, for budgeting and financial reporting; the City of Scottsdale, Arizona, for capital financing and debt administration; Johnson County, Kansas, Treasurer's Department, for e-government and technology; Washington State Transportation Improvement Board, for management and service delivery; Ohio Public Employees Deferred Compensation Program for pensions and benefits; and Gwinnett County, Georgia, for pensions and benefits.
EVENTS AND ACTIVITIES
Welcome to Fort Lauderdale--Get Connected!
Sunday night's opening reception, conveniently located within the Greater Fort Lauderdale/Broward County Convention Center, provided a networking opportunity for everyone in attendance. This year's schedule gave attendees exhibit hall access during the reception, allowing them to visit with vendors and discuss their services without having to dash off to a session. Attendees enjoyed light hors d'oeuvres and background entertainment before heading out for dinner.
GFOA Rocks South Florida
On Tuesday night, attendees and their guests were transported to the grounds of Seminole Hard Rock Hotel in Hollywood, Florida. Beginning at 6:00 p.m. and lasting until midnight, the evening's dine-around and shopping provided a variety of restaurants and stores for early evening or late-night entertainment. Hard Rock Live, a uniquely intimate, state-of-the art concert venue, was the feature stop for a private concert by REO Speedwagon. REO played all their classic hits as delighted fans danced in the aisles.
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