Government Finance Review articles from August 2002

Government Finance Review archives from August 2002

GASB issues new statement on component units. (News Briefs).(Governmental Accounting Standards Board )
August 1, 2002... The Governmental Accounting Standards Board has issued Statement No. 39, Determining Whether Certain Organizations Are Component Units. "The new statement clarifies existing accounting guidance and provides greater consistency in accounting for...

IDBs down, housing up. (News Briefs).(industrial development bond )(Brief Article)(Statistical Data Included)
August 1, 2002... According to a nationwide survey of states' private activity volume cap usage by The Bond Buyer, the portion of the cap devoted to the industrial development bond sector shrank significantly in 2001. While states' aggregate volume cap...

Governments paying higher insurance premiums for less coverage. (News Briefs).(Brief Article)(Statistical Data Included)
August 1, 2002... Following a year marked by the September 11 terrorist attacks and a number of natural disasters, local governments have seen insurance premiums increase significantly. According to the Insurance Information Institute, the total price tag for...

State fiscal stress to continue, survey reports. (News Briefs).(Brief Article)(Panel Discussion)
August 1, 2002... A sharp decline in income tax receipts during the first quarter of the year and an increase in the dollar amount of taxpayer refunds are causing further stress to already battered state budgets, according to new data released in June. The drop...

New York Mayor increases IT budget to accommodate 311 system. (News Briefs).(Michael R. Bloomberg wants to create centralized 311 call system)(Brief Article)(Statistical Data Included)
August 1, 2002... While most New York City agencies will have smaller budgets next year, the budget for one city department will grow. Mayor Michael R. Bloomberg, who made a fortune revolutionizing information technology for Wall Street, earmarked an additional...

New Colorado city struggling to collect taxes, pay bills. (News Briefs).(Centennial, Colorado)(Brief Article)(Statistical Data Included)
August 1, 2002... Struggling to collect sales tax revenue, recently incorporated Centennial, Colorado, may seek to delay a payment for county services. In exchange for law enforcement, public works, animal control, and liquor licensing services, Centennial...

Insured obligations with public underlying ratings trade more favorably. (News Briefs).(Brief Article)
August 1, 2002... In a newly released special report, Moody's Investors Service says that insured obligations with public underlying ratings tend to trade more favorably than those without such ratings. Moody's cites the increased transparency of the public...

Public investors team up to clean up conflicts of interest. (News Briefs).(Brief Article)
August 1, 2002... Representatives of three of the country's largest public investors announced in July a new initiative to protect government funds and retirement assets from conflicts of interest at brokerage firms and investment banks. The New York and North...

Stadium proposal stalls in St. Louis, signals new trend. (News Briefs).(end to stadium building trend)(Brief Article)
August 1, 2002... In a move that may signal the end of the stadium boom, the Missouri legislature refused to commit public funds for a $346 million dollar ballpark in St. Louis. During the late 1990s, governments contributed millions of dollars to build major...

United fined by Indianapolis, State of Indiana. (News Briefs).(United Airlines )(Brief Article)(Statistical Data Included)
August 1, 2002... Failing to meet the level of investment it promised in return for tax breaks, United Airlines agreed to pay the City of Indianapolis and the State of Indiana a combined $31.1 million in fines. In the midst of a financial slump, United was...

San Fernando Valley, Hollywood secession on November ballot. (News Briefs).(Brief Article)
August 1, 2002... In a move that could divide Los Angeles into three separate cities, the Local Agency Formation Commission agreed to place two secession measures on the November 5 ballot. If a majority of voters in both the breakaway areas and citywide approve,...

New Jersey residents now paying traffic tickets online. (News Briefs).(Brief Article)
August 1, 2002... Paying traffic tickets is now just a click away for many New Jersey residents. Since the state's Judiciary Department launched New Jersey Municipal Court Direct earlier this year, use of the online ticket payment program has skyrocketed among...

D.C. may see bond rating upgrade. (News Briefs).(District of Columbia)(Brief Article)(Statistical Data Included)
August 1, 2002... At a hearing of the Senate Appropriations Subcommittee on the District of Columbia, Senator Mary Landrieu said improvements in the federal enclave's financial condition may lead rating agencies to upgrade the city's bond rating. Deputy CFO...

Purchasing cards come of age: A survey of state and local governments.(Statistical Data Included)
August 1, 2002... Purchasing card spending by state and local governments more than doubled between 1998 and 200l, fueled by greater card distribution among public employees and fewer restrictions on usage. Purchasing cards were developed in the late 1980s...

Finding opportunities in fiscal stress: how to balance your budget and improve performance.
August 1, 2002... As they struggle to balance their revenue-deprived budgets, state and local governments should look beyond mere cost-cutting measures to structural solutions that not only foster budgetary balance, but also enhance service delivery. State...

Does Bond Insurance make sense for you?
August 1, 2002... The use of bond insurance by state and local governments has become increasingly common in the municipal market. Governments need to understand the mechanics of bond insurance so that they can make in formed decisions as to whether or not it is...

Back to basics: making the case for investment policies.
August 1, 2002... Local governments sometimes look to investment earnings to compensate for declining revenues. Adhering to established investment policies can help ensure that they don't compromise the safety of public funds in the process. The...

Taking the plunge: the conversion to multi-year budgeting.
August 1, 2002... By abandoning the traditional annual budget in favor of a biennial budget framework, one small city has saved staff time, improved its strategic planning capabilities, and enhanced its overall financial condition. Multi-year budgeting...

Restoring confidence in the accounting profession: ideas for improving financial reporting.(Lynn Turner address)(Transcript)
August 1, 2002... Continuing revelations of accounting scandals at some of America's highest flying corporations have shaken investor confidence and public perception of the accounting profession. The vitality of the financial markets and the economy rest on the...

Proposed homeland security department: what it means to state and local governments. (Federal Focus).
August 1, 2002... In a June 6 televised address from the White House, President Bush told the nation that a sweeping reorganization of the federal government is needed to improve domestic security. "Tonight, I ask the Congress to join me in creating a single...

The budget retreat as a consensus-building tool. (Forum).
August 1, 2002... Each year, the mayor and City Council of the City of Bloomington, Indiana, work together to pass a budget before the statutory deadline. Even when the council majority and the mayor are of the same party, priorities can be vastly different and...

Mitigating the risks of pension fund investing. (Pensions and Benefits).(Statistical Data Included)
August 1, 2002... Risk is an inevitable component of investment activity. Managing investment risk has become an increasingly popular topic, as well-publicized losses by investment funds have captured public and professional attention. A number of organizations...

GFOA Annual Conference 2002. (Annual Conference).(Brief Article)
August 1, 2002... Convened in the shadow of the towering Rocky Mountains, "Rising to New Challenges" served as an appropriate theme for GFOA's 96th Annual Conference in Denver. In the wake of the September 11 terrorist attacks and the lingering effects of the...

Meet the new president-elect and executive board members. (Profiling GFOA).(Government Finance Officers Association)
August 1, 2002... At the Government Finance Officers Association's annual business meeting in Denver in June, members voted for a slate of nominees for president-elect and five new members-at-large of the GFOA Executive Board. The association is governed by the...

Property Taxation and Local Government Finance.
August 1, 2002... William E. Oates, editor Cambridge, Massachusetts: Lincoln Institute of Land Policy (345 pp.) Reviewed by Brian Flahaven, policy analyst, GFOA Research and Consulting Center, Chicago, Illinois. Over the past 30 years, the property...

eGov. (Book Reviews).(Douglas Holmes)
August 1, 2002... Douglas Holmes London: Nicholas Brealey Publishing (330 pp.) Reviewed by Keith Campbell, senior staff consultant, GFOA Research and Consulting Center, Chicago, Illinois. Public finance professionals are often agents of...

Accounting, auditing, and financial reporting. (From the Library).(The Role of GASB 34 in the Citizen-Government Accountability Relationship)(Brief Article)
August 1, 2002... "The Role of GASB 34 in the Citizen-Government Accountability Relationship" Dean Michael Mead State and Local Government Review, Winter 2002, pp. 51-63. This article considers whether the Governmental Accounting Standards Board...

Cash management. (From the Library).(How Conservative Are Municipal Investment Practices in Large Cities?)(Brief Article)
August 1, 2002... "How Conservative Are Municipal Investment Practices in Large Cities?" Dwight V. Denison Municipal Finance Journal, Spring 2002, pp. 35-51. Public scrutiny of government investment has increased in the aftermath of events such as...

Education Finance. (From the Library).(Journal of Education Finance, Spring 2002, pp. 1013-1027)
August 1, 2002... "Stability and Equity in Education Finance Formulas" William Fox, Matthew Murray, and Patricia A. Price Journal of Education Finance, Spring 2002, pp. 1013-1027. The Basic Education Program passed by the Tennessee General Assembly...

Management. (From the Library).(Public Management, May 2002, pp. 6-10)
August 1, 2002... "Management Audits: Passe, or a Useful Quality Improvement Tool?" Dana Hield Whitson and Douglas K. Clark Public Management, May 2002, pp. 6-10. The mere mention of the term "management audit" (also referred to as a performance...

Pensions and benefits. (From the Library).(U.S. General Accounting Office, February 2002)
August 1, 2002... "Private Pensions: Key Issues to Consider Following the Enron Collapse" U.S. General Accounting Office, February 2002 In a statement prepared for the Senate Finance Committee, the General Accounting Office discusses a number of private...

Performance measurement. (From the Library).(Reason Public Policy Institute, Policy Study No. 287, March 2002)
August 1, 2002... "Citizens' Budget Report" Geoffrey F. Segal and Adam B. Summers Reason Public Policy Institute, Policy Study No. 287, March 2002 A new report by Reason Public Policy Institute finds that several major cities already are proving how...

Technology. (From the Library).(Governing, June 2002)
August 1, 2002... "The Call-In Connection" Ellen Perlman Governing, June 2002 One of the most popular acronyms in public management these days is "CRM," which stands for "citizen relationship management" or "customer resource management." Although...

Calendar.
August 1, 2002... AUGUST August 11-14: The Municipal Treasurer's Association of the United States and Canada 37th Annual Conference. Vancouver, BC. For more information , call 202/737-0660 or visit www.mtausc.org. August 18-21: National...

L.A.'s quandary: breakup or boroughs. (Commentary).(Brief Article)
August 1, 2002... The breakup of the great world city of Los Angeles could happen this fall. Secession proponents have forced a measure onto the November ballot splitting off the San Fernando Valley, home to 1.35 million people, or almost 40 percent of L.A.'s...