SHARE YOUR WORK!(Perspectives)

Author:Mucha, Michael J.
 
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Some of GFOA's most popular best practice statements recommend that governments either adopt financial policies or provide specific guidance about how to do so. Financial policies are central to a strategic, long-term approach to all areas of public financial management. They also help guide decision making by setting clear objectives, defining boundaries, and communicating the direction of the organization. Based on data collected from GFOAs website, our most popular best practices are those that many GFOA members have relied on in developing policies on fund balance guidelines, debt management, user fees, revenue control, capital planning, long-term financial planning, investing, and economic development.

GFOA plans to add a significant resource to help with financial policy development --a database of policy examples that you can use for benchmarking, identifying ideas for improving your own policies, and sharing your successful work with your peers. To fully develop this resource, we need your help and encourage you to join the "Financial Policy Challenge" at gfoa.org/financial-policy-challenge. (See page 8 of this magazine for more information about the challenge.)

GFOA members often comment on how unique our peer community is in its willingness to help fellow finance officers. GFOA hopes to be the resource for information and...

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