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GFOA Newsletter
August 24, 2017
GFOA Offers 12 Steps to Financial Recovery 

GFOA’s 12 Steps to Financial Recovery web resource details an organized process that governments can use during times of financial hardship – or to avoid them. Users are guided through the stages of financial recovery: 1) Getting through the immediate crisis and creating breathing room; 2) Carrying out the short-term recovery plan and developing long-term therapies; and 3) Making long-term financial planning an integral part of the organization and becoming more resistant to volatility.

The first step is recognizing that financial distress exists and getting through the immediate crisis. But stabilizing finances isn’t enough – the next step is creating a strategic vision and implementing the structures needed to realize it. Eventually, the organization will better better off than it was before the financial decline, and that’s when it can work on step three: becoming not just financially sustainable, but financially resilient.

Take a look at the full 12-step process for tips your government can use to become resilient.

Read More.
Association News
Share Your Insights and Feedback with GFOA

GFOA will be contacting you later today with its 2017 membership survey. Your feedback and suggestions from past surveys have helped us improve our services to GFOA members and state and local governments. Your insights are critical to our organization and your colleagues. Please assist us by completing this 20-minute survey, which we ask you to do every two years. 

Survey responses will be used exclusively to inform decisions about how GFOA can better serve members in the future. Only aggregate data will be reported, and your responses will not be used for future sales or marketing purposes.

Thanks so much for investing your time to help us improve.

Aiming to Advance Your Skill Set? Register for GFOA’s Upcoming Training Courses in Chicago this November 

We’re offering several valuable courses at the Hyatt Regency or GFOA’s offices in Chicago to help you take your career to the next level:

Register today! (Registration form / Register online)

Click here for hotel information. Visit Choose Chicago to learn about activities for your stay. If you have any questions about GFOA’s training seminars, contact GFOA.

For additional training opportunities, go to GFOA’s training schedule

First-Time Distinguished Budget Award Recipients Announced

The following jurisdictions are first-time winners of GFOA’s Distinguished Budget Presentation Award: City of Commerce City, Colorado; Village of Winnetka, Illinois; City of Lawrence, Indiana; Saint-Augustin-de-Desmaures, Quebec; City of Hudson Oaks, Texas; Wasatch Front Waste and Recycling District, Utah; and City of Platteville, Wisconsin.

Read More.
Jurisdictions Win Popular Annual Financial Reporting Award for First Time

GFOA would like to congratulate the following jurisdictions for receiving GFOA’s Popular Annual Financial Reporting Award for the first-time: City of Half Moon Bay, California; Macon-Bibb County, Georgia; Town of Concord, Massachusetts; Orange County, North Carolina; New York State Teachers’ Retirement System; Chagrin Falls Exempted Village School District, Ohio; Santa Rosa Independent School District, Texas; City of Norfolk, Virginia.

Read More.
News Links
GFOA Members Invited to Participate in OPEB Research Study

In an effort to enhance awareness of the financial health of public OPEB plans, the Society of Actuaries is working on a research project intended to shed light on the current situation and how stakeholders may be affected by current and future developments. The researchers will examine the state of financial health of public OPEB plans and assessment of trends in the associated liabilities over time, identify OPEB stakeholders, and evaluate actions that sponsors are taking to manage their OPEB unfunded liabilities. The Society of Actuaries is seeking input from public-sector employers of all types and sizes via a survey intended to gather information on aspects such as plan designs, eligibility, Medicare coverage, retiree cost-sharing, asset management, retiree participation rates, etc. All respondents will have the option of receiving preliminary results in advance of official publication.

Read More.
Tennessee Achieves Results with Pay for Performance

The State of Tennessee recently adopted a pay-for-performance personnel system, and smart planning led to its success, according to Government Executive. “The key to the state’s success is the decision to rely on S.M.A.R.T. (specific, measurable, achievable, relevant, time sensitive) performance goal setting.”

Implementation took several years because its agencies first had to establish a foundation for performance. Training included clinics on goal writing, an online module, and new content to create a culture of continuous feedback. State officials also met with employees to discuss areas where the performance system could be enhanced.  

Performance ratings from 2010 to 2016 show the new system’s impact. “In 2010, the ratings reflected an all too common problem in government – highly inflated ratings. A total of 83 percent were rated at the highest two levels. By 2016, ratings were more credible: 36 percent were highly rated,” according to the article.  

Read More.
Austin Transparency Project Shows Exactly Where Mobility Bond Money Is Going

The City of Austin, Texas, had 68 capital improvement projects in the works and needed a way to show residents how their tax dollars were being spent, RouteFifty reported. To that end, the city launched its Capital Projects Explorer project, which explains Austin’s progress on its 2016 Mobility Bond improvements. The $720 million bond is shared among three agencies, and the project allows stakeholders to see exactly what is being built and how much it costs. Improvements vary from regional to local, including new sidewalks, bikeways, and urban trails. The projects displayed on the Explorer can be selected for description, budget, funding, phase, and contact information, and data are updated monthly. 

Read More.
Tips to Help You Improve Your Team’s Performance

Most leaders want to help their employees perform as well as possible. Tanveer Naseer’s leadership blog provides some strategies for making the biggest difference in achieving top performance on every metric of success you track.

  • Your job as a manager is not to change people but to optimize people’s performance.
  • Help employees understand why they’re doing their jobs, concentrating more on why than how.
  • Resist the temptation to take over when mistakes happen – adding control mechanisms almost always drives up cost and slows things down.
  • Be unreasonably optimistic and fuel top performance by setting seriously challenging (but not totally unrealistic) goals.
  • Shape a culture of recognition and appreciation.
Read More.
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Editor: Marcy Boggs  |  Executive Director/CEO: Chris Morrill 

The GFOA Newsletter (ISSN 1051-6964) is published weekly by
the Government Finance Officers Association of the United States and Canada.
Correspondence regarding editorial and/or business matters should be sent to
GFOA, 203 N. LaSalle St., Suite 2700, Chicago, IL 60601-1210. Phone - 312/977-9700 FAX - 312/977-4806.


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