GFOA best practices help governments innovate successfully.

• Position: Brief article

Finance officers are tasked with innovating at the same time they are also responsible for safeguarding taxpayer money. Both roles lead to organizational resilience--which GFOA President Heather Johnston defines as the ability to recover or adjust easily to misfortune or change. GFOA has a number of best practices and advisories that finance officers can use to help their jurisdictions balance innovation and wise spending choices.

For example, The Public Finance Officer's Role in Supporting Fiscal Sustainability recognizes that it is often unclear whether a specific decision or set of decisions can be considered sustainable. This best practice suggests ways finance officers can take an active role in their governments' efforts to think and act sustainably.

Innovations often take the form of economic development projects. The Role of the Finance Officer in Economic Development recommends roles...