The finance officer's role in doing more with less: 2010 Annual Conference recap.

• Position: Conference news

The GFOA held its 104th Annual Conference, "The Finance Officer's Role In Doing More With Less," in Atlanta, Georgia. More than 4,000 people attended the conference at the Georgia World Congress Center on June 6-9, 2010.

GENERAL SESSIONS

John H. Eaves, chairman of the Fulton County Commission, welcomed delegates to Atlanta. He emphasized the vital role finance officers play in helping navigate these tough economic times, calling them the "unsung heroes" who "keep the engine running." Eaves wished conference attendees a "productive, informative, and enjoyable" visit to Atlanta.

GFOA President Paul Macklem discussed the current economic challenges. He reminded delegates that they can effect positive change by working together and called on Atlanta's Dr. Martin Luther King for words of encouragement: "The ultimate measure of a man is not where be stands in moments of comfort and convenience, but where he stands at times of challenge and controversy." Macklem went on to discuss how the GFOA is looking to the future through its role on the National Commission on Performance Management and Measurement; by releasing up-to-date best practices and advisories; and by preparing for the next generation of finance officers.

KEYNOTE SPEAKERS

Steven Cochrane, managing director of Moody's Economy.com, addressed delegates as the keynote speaker at Monday's general session. Cochrane manages the regional forecasting service and directs the research and development activities of the entire research staff. He has been an analyst with Moody's for 17 years. Cochrane is a frequent speaker and has been featured on Wall Street Radio, NewsHour with Jim Lehrer, and CNBC.

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The message of Cochrane's speech was that the economy is recovering and gaining traction. He discussed the current economic conditions that signal to him that the economy is gaining strength, specifically looking at employment growth, industrial production factors, housing prices, consumer spending, household wealth, and the credit cycle across the Northeast, Midwest, Southwest, and Western parts of the United States. Cochrane focused next on four factors that will keep the economy in recovery for the next 12-18 months: job growth, real estate, federal policy, and the European debt crisis. He said long-term financial projections will look like what was expected in 2007-2008, before the economic decline hit, but the difference will be in what drives growth: a switch from consumer revenue to exports and investment spending.

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