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We can help local governments identify, evaluate and implement the best practices identified in the Government Finance Officers Association (GFOA) publication "Recommended Practices for State and Local Governments." The publication is a collection of recommended practices formally approved by the Executive Board of the GFOA. The publication provides useful information that helps governments develop their own best practices in the following five broad areas: - Accounting, auditing and financial reporting
- Cash management
- Budgeting and financial management
- Debt management
- Retirement and benefits administration
Our approach to helping you develop best practices includes the following processes: - Help management select which GFOA best practices will be included within the scope of the engagement
- Develop background considerations related to the government's current practices in each best practice area selected by management
- Summarize the GFOA recommendation(s) related to each selected best practice area
- Consider GFOA recommendation(s) in relation to the unique operating and other characteristics of the government focusing on the practicality of implementing the recommendation(s)
- Develop recommendations for implementation by the government based on a comparison of its current practice
- Hold a conference with management personnel to discuss our initial recommendations
- Present our recommendations orally to management, board, etc.
- Present an outline or letter that summarizes our recommendations
Our professionals have the experience to address all of the recommended practices that should be implemented by state and local governments.
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