Dear Friends and Colleagues,
At the end of May, we had our final Board meeting for this fiscal year and my last as president of GFOAT. This has been such a rewarding and memorable year for me to serve such a dedicated group of individuals, not only for the work you do in your own communities but also for the GFOAT organization. I especially want to thank the Board for all its hard work and to Becky Brooks, our wonderful Executive Director, for her continued guidance and support of our organization. I leave you in good hands and want to congratulate Kent Pfeil who will begin serving as President on July 1, 2009.
This year has been an exciting and busy one for the GFOAT Board and our organization. First, we completed our future Strategic Plan and are working on several initiatives including enhancing committee meetings at the regional level and program development enhancements. Speaking of which, we had two excellent conferences this year!! Who could forget the last minute change that went so smoothly as we had to switch our Fall Conference from Galveston to the Sheraton Dallas due to the damage caused by Hurricane Ike. Once again, thank you to the TML staff especially Lavern Gaines who worked tirelessly to make the transition happen.
| Job Postings and Resource Directory |
City of Oak Point-Director of Finance City of Frisco Texas-Revenue Collections Manager City of Port Arthur-Comptroller City of Waller-Finance Officer
Job Posted on: 7/3/2009
Closing Date: 9/1/2009
Salary: Depending on Qualifications
Job Posted on: 6/24/2009
Closing Date: 7/31/2009
Salary: $5,666 min - $7,932 max monthly
Job Posted on: 6/11/2009
Closing Date: 7/16/2009
Salary: $62,373/yr. - $72,542/yr. (DOE&Q)
Job Posted on: 6/10/2009
Closing Date: 8/9/2009
Salary: $45,000-50,000 annually
| Committees and Regions |
Professional Development - CGFO: Next testing dates: July 21st 1-3:30pm Bedford. Contact suzette@gfoat.org
Regional 10 News (Austin): June 24 TMRS Workshop. See more.
Regional 8 & 13 News (DFW): July 17, September 18; Contact Alan at adickerson@littleelm.org. Generally region 8/13 meets bi-monthly on the third Friday.
Regional 14 News (Gulf Coast):
July 16th meeting. see notice. Generally the Gulf Coast chapter meets the third Thursday of each month. Contact Jim Cooksey at jcooksey@gcwda.com
Regional 15 News (Tyler-Longview): July 1 FTC Red Flag workshop. See more.
Regional 2/3 News: Contact Annette Melius at Annette@xit.net
| Training Calendar/News |
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GFOAT NEWS TO USE...... |
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MEMBERS ONLY!!!!! Check it out ... www.gfoat.org/members/ Please add your own RFPs and other useful documents.
GFOAT Spring Conference PICTURES AND MATERIALS more coming soon!
FALL CONFERENCE SAVE THE DATE November 4-6 and BOOK YOUR ROOM NOW - Fall Conference in Fort Worth at the Sheraton. Read more here
GFOA Conference Registration ON NOW for the 103rd Annual Conference in Seattle, Washington, June 28- July 1, 2009 www.gfoa.org
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Spotlight on .... |
... likes John Wayne and watched Bonanza as a kid
... enjoys elk and deer hunting
... favorite singer is George Strait
... cautions us that events in private sector result in changes in reporting in government sector
... credits his assistant city manager of 26 years for influencing his career
... is most proud of receiving GFOA budget award for ten straight years
| Article |
Record Retention Policies Related to Certain Governmental Debt
By: Meagan Horn, Attorney, Vinson & Elkins L.L.P.
Most state and local governments choose to borrow funds to help finance capital projects, e.g., roads, buildings, water and sewer projects, etc. Most times, such governments issue this debt as a “tax-exempt obligation” under Section 103 of the Internal Revenue Code, or as a new “build America bond” (a “BAB”), under the recently enacted American Recovery and Reinvestment Act of 2009, to which the requirements under Section 103 also apply. Specifically, state or local governments may issue tax-exempt debt (as, for example, bonds, certificates, notes, lines of credit or financing or capital leases) where the interest income received by the holder of such debt is not included in the holder’s gross income or as BABs, for which the issuer is entitled to a direct pay credit from the U.S. Treasury. In both cases, this produces a lower net interest rate to the issuer.
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