Government Finance Review

Editorial Nondiscrimination rules were imposed by the IRS in 1977 on governmental pension plans due to differences in private- and public-sector plans. These rules were created to prevent private-sector firms from implementing pension plans which favored highly paid employees. The Government Finance Officers Assn. (GFOA) is leading a coalition of about 20 public-sector organizations to secure a permanent moratorium for public employee retirement systems from Congress. GFOA has been working w...

Emerging issues in charter school financing.

Charter schools are independent public schools not subjected to state and local laws in exchange for a written contract and are formed by teachers, parents and community members. Charter schools formed under stronger laws are often autonomous entities. Schools formed under weaker laws remain part of the school district and provide few school finance challenges. There has been a move among charter schools toward school-based funding systems. Issues concerning this move are presented.

Local Economic Development: Analysis and Practice.

Local Economic Development: Incentives and International Trends.

Mail-order sales: GFOA and coalition petition the Federal Trade Commission.

Government Finance Officers Association Many state and local governments have not been able to collect sales and use taxes from merchandise shipped to consumers in their area by out-of-state companies. An estimated $3.3 billion in lost revenue has been estimated in 1994. Six US senators have requested the Federal Trade Commission (FTC) to investigate the practices of mail-order companies which mislead consumers on their use tax obligations and for FTC to require direct marketers to disclose ...

Managing interest rate exposure: some simple tools for financial managers.

Financial managers in the public sector have become more cautious about interest rate risks. They have learned the hard lesson that state and local governments should avoid making explicit 'bets' on the direction of interest rates. Financial problems which governments experienced after the rise of interest rates in 1994 were initially blamed on derivatives. However, analysts have more recently established that the combined effects of the asset and liability portfolios cause interest rate expo...

New software products, annual conference tapes, and retirement systems survey released.

The Government Finance Officers Assn. (GFOA) has released its Windows version of its municipal bond manager, Mun-Ease Release 8.0. This new software meets all the reporting and computation requirements of a municipal bond issuer. The Public Pension Coordinating Council has written a report on a survey on state and local government retirement systems. It contains information such as system administration, retirement benefits and systems investments. The 90th annual conference of the GFOA has v...

Program/activity-based management at the Regional Municipality of Peel: an organization in transition.

The Regional Municipality of Peel in the Greater Toronto Area (GTA) has launched its Corporate Performance Measurement (CPM) initiative as an example of GTA's pioneering of innovative management techniques. Peel's CPM program is committed to a program- and activity-based management philosophy. Its prosperous economy is based mainly on automotive, pharmaceutical and telecommunications industries. Peel has been rated with the highest rating of credit worthiness. The challenges that Peel have gr...

Public administration program in Estonia.

The Public Administration Program in Estonia (PAPE) aims to strengthen local governments and help them become more independent. PAPE is being funded by the United States Agency for International Development. It further aims to improve the capability of existing Estonian organizations to disseminate technical assistance from pilot local governments to 255 local governments. PAPE has successfully planted and developed the concept of citizen responsibilities in the minds of local government offi...

Saskatchewan's REDAs: bottom-up economic development.

Regional Economic Development Authority - Includes REDA initiative principles Saskatchewan has developed a model for economic development strategic planning which provides for grassroots initiative and regionalism and emphasizes on business development. The Regional Economic Development Authority (REDA) program was created by the Saskatchewan Dept. of Economic Development. It calls for the cooperation of cities, suburbs and rural communities. REDAs are nonprofit corporations owned by communi...

Securities and Exchange Commission enforcement actions in the municipal securities markets.

The Securities and Exchange Commission (SEC) is the regulatory agency responsible for enforcing federal securities laws and supervising the country's capital markets. It also has oversight authority over municipal securities. Municipal securities markets are important sources of financing of local and state governments for building facilities or for financing operations. The SEC's enforcement program protects investors and is designed to build confidence in the capital market by preserving th...

The 1996 GFOA annual conference.

Government Finance Officers Association The 90th annual conference of the Government Finance Officers Assn. held on May 19-22, 1996 had as its theme 'Technology and Public Finance,' which was highlighted by seminars on accounting, auditing, budgeting, cash management, debt administration and pensions. A keynote speaker discussed cost-cutting through the use of technology by state and local governments. It was also stated that public entities would incur lower telecommunication costs due to d...

The federal budget: connecting resources to results.

Includes related article on NASA Balancing the budget has become the concern of the federal government. Federal agencies are being forced to reexamine their priorities and measure program results. Accountability tools such as performance measures and financial reporting are being applied by federal managers. The development of accountability presents commitment to a balanced budget. The Chief Financial Officers Act, the Government Management Reform Act, the Government Performance and Results...

The uses of performance measurement in government.

Performance measurement has grown to be an important program in governments due to increased pressure for accountability and for producing greater value-for-money performance. However, performance measurement is still being viewed skeptically as just a mere score-keeping mechanism. Performance measurement must become an integral part of managing government programs and in decision-making. It must be linked to processes such as strategic planning, operational planning and control, accountabili...

The year 2000: defining the government solution.

Includes related article on the Information Technology Management Reform Act of 1996 - Computers and Software Public financial officers face the major challenge of computer systems unable to accurately process dates after 1999. The heart of the year 2000 problem is the migration of these outdated systems to newer technology. Some of the problems surrounding this major challenge include the large and old tasks federal systems perform, limitations of the budget environment and personnel issues...

Transforming the benefit function.

Pension and Benefits Report The employee benefit function has been greatly affected by the wave of restructuring and cost-containment. More responsibilities have accrued and the job has demanded a higher profile. The benefit staff should be able to design health, pension and other benefit programs which will yield maximum employee satisfaction while meeting the operations' needs and top management's objectives for cost efficiency. The new benefit manager must be able to read a balance sheet,...

Use of on-line technology: a GFOA/MBIA survey.

Government Finance Officers Association/Municipal Bond Investors Assurance Corp. A survey of financial practices was conducted by the Government Finance Officers Assn. and the Municipal Bond Investors Assurance Insurance Corp. among 1,400 governmental units from cities, towns, villages and counties. Half of these respondents have access to on-line services such as the Internet. Many finance officials plan to expand the use of on-line technology to other financial functions and be connected w...

Virtual taxation: electronic commerce poses problems for state tax collections.

Includes related article on cybercash - Electronic Communication and Networks Many questions have emerged concerning the collection of sales and use taxes on good and services sold through the Internet. The absence of corrective legislation for interstate sales through the Internet, mail order and television will make the collection of sales and use taxes inequitable. Local retailers with a physical presence face a competitive disadvantage. Payment systems need to be developed to provide for...

Young v. Old: Generational Combat in the 21st Century.