GFOA Candidates for President-Elect and the Executive Board.

Position:Government Finance Officers Association

The Government Finance Officers Association is governed by an 18-member Executive Board, which consists of 15 at-large members, the current president, the past president, and the president-elect. At the association's annual business meeting on May 8, 2018, GFOA members will vote on the following slate of nominees for president-elect and new members-at-large, who are profiled here.


Assistant Superintendent for Business and Operations

Hanover County Public Schools, Virginia

GFOA Member 19 years

GFOA Board Member 2015 to 2018

Committees Served

* Committee on Retirement and Benefits Administration (2015 to 2018)

* Committee on Treasury and Investment Management (2005 to 2013; chair, 2011 to 2013)

* Executive Board Nominating Committee (2013 to 2014)

TERRY S. STONE, president-elect, identified her goals for the upcoming three years: continuing to provide members with access to GFOA best practices and other resource materials; reinforce GFOA's position as a leader in the areas of federal advocacy and education; and build on GFOA's membership by attracting school districts and recruiting young professionals into the field of government finance.

As Assistant Superintendent for Business and Operations at Hanover County Public Schools, Stone oversees areas including financial operations and budget, facilities and capital planning, risk management, long-range planning, pupil transportation, school nutrition, technology services, safety and security, and the Hanover Education Foundation. She is also the primary liaison with the county government.

During her tenure as Director of Finance for Hanover County, the county received its first AAA rating from Fitch Ratings. Stone also led a committee that modified retiree health benefits and established an OPEB Trust to address the liability associated with GASB Statement No. 45, Accounting and Financial Reporting by Employers for Post-employment Benefits other than Pensions. As a result, Hanover County and Hanover County Public Schools' OPEB liability is fully funded. Stone is involved in GFOA's Alliance for Excellence in School Budgeting and has applied for GFOA's new Award for Best Practices in School Budgeting. Under her supervision, Hanover County also received GFOA's Certificate for Excellence in Financial Reporting and the Distinguished Budget Presentation Award in 2005 to 2008, when Stone was finance director, and in 1996 to 2000, when she was assistant finance director.

Stone served on the King William County Board of Supervisors (past chairman, 2015), King William County School Board (past chairman, 2004 and 2010), Virginia GFOA (past president, 2006), Virginia Association of School Business Officials (certification program instructor, 2014 to 2015), Chesapeake Bay Governor's School, Virginia School Board Association (past insurance services supervisory board member, 2014), and the Bay Consortium Workforce Investment Board (2012 to 2013). She also served on the Family/ Children/Youth Action Council of United Way Services (1999 to 2001). Stone has been a member of the American Institute for Certified Public Accountants since 1996. In 2014, Stone received the Distinguished Local Government Leadership Award from the Association of Government Accountants. In 2005, she was awarded "Top 40 under 40" by Style Weekly in Richmond, Virginia.


Director of...

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