NEW GASB CHAIRMAN FORSEES NEW PENSION STANDARDS INFLUENCING GOVERNMENT BUDGETING DECISIONS
...as reported in AccountingToday by Michael CohnDavid A. Vaudt, the new chairman of the Governmental Accounting Standards Board, plans to closely monitor the impact of GASB’s new pension accounting standards on the finances of state and local governments. “Pensions are still at the top of the agenda for the GASB board,” he said in an interview with Accounting Today on Friday.GASB issued its long-awaited standards for improving pension accounting and financial reporting last year with the goal of more faithfully representing the full impact of pension liabilities and expenses of state and local governments (see GASB Approves New Pension Accounting and Reporting Standards). But the problems with underfunded government pension obligations were highlighted recently by Detroit’s bankruptcy filing and mounting concerns about similar problems in other cities and states (see GASB Standards under Scrutiny amid Detroit Bankruptcy Filing). Read Enitre Article Here
U.S. Stocks Forming a Bubble?
By Robert J. Gorman, CFA, Chief Portfolio Strategist
In the winter 2013 edition of Investment Outlook, our 2013 forecast called for American equities to advance for a fifth successive year and register a high single-digit return. U.S. stocks have, as illustrated in
Chart 1 (see chart on back), risen briskly so far this year and at the time of writing recorded a double-digit return, ahead of forecast. Read Entire Article Here
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Thank you for visiting the Government Finance Officers Association of the Washington Metropolitan Area’s (GFOA-WMA) website. It is my honor and privilege to serve as President of GFOA-WMA, a non-profit professional organization whose purpose is to advance the practice of government finance for the benefit of the public as developed and recommended by the Government Finance Officers Association of the United States and Canada and other recognized authorities in the field of government administration.
Our goal is to promote excellence and leadership among those concerned with public finance in the Washington Metropolitan Area by providing quality educational opportunities, avenues for sharing knowledge and upholding high quality professional and ethical standards. GFOA-WMA provides trainings and forums for the discussion of common issues and objectives of mutual interest to public finance officers.
I encourage you to get involved with GFOA-WMA. Attend our quarterly meetings and annual conferences, become a member or sponsor and network with others who share your interest in serving government.
Cyril Byron, Jr. - President
Cyril Byron, Jr. - President
The Government Finance Officers Association of the Washington Metropolitan Area (GFOA-WMA) is the local organization of the national GFOA of the US and Canada. We support public sector employees in government finance. GFOA-WMA provides educational and networking opportunities to promote, encourage and support high standards in accounting, budget, treasury and all other aspects of local government financial management.GFOA-WMA membership consists of approximately 300 finance officers and associate members in the District of Columbia and the surrounding cities and counties of Maryland and Virginia. Active (voting) members are generally employed by a local government organization and live or work in the Washington metropolitan area. Associate members are members of industries that serve local government, including auditors, actuaries, bankers, educators, and attorneys.