The Texas Government Financial Officers Association (or GFOAT) is a professional association of state, district, and local government financial officers in Texas. The Association of Texas Government Financial Officials is a statewide organization serving all the financial professionals of the city of Texas, an affiliate of the National Government Finance Officers Association (GFOA). Membership is open to anyone in the State of Texas who is actively involved in government finances in any city, district, or special district. Its mission is to improve the financial quality of local governments, to assist and support local government financial professionals in Texas, and to promote the public service profession. GFOAT members are actively involved in the major issues facing cities, districts and special districts in the State of Texas.
The Chief Financial Officers Act of 1990 (CFO Act) was signed into law by President George H.W. Bush. For each of the 23 federal agencies, the position of chief financial officer has been made. Since then, federal efforts have been intended to improve government financial management and develop financial performance standards and disclosures. Similar financial expectations are at the state and local government level.
The chief financial officer (CFO) of a public agent is a company official primarily responsible for managing the financial risks of a business or agency. This officer is also responsible for budgeting, financial planning, record keeping, cash flow management, higher management. communicating financial performance and forecasts to the community. Titles may vary, such as finance director or treasurer, from agent to agency. CFOs usually report to the city manager or other chief executive officer.
Financial reporting has many audiences, with responsibility to citizens, taxpayers and voters to provide transparent accountability for the use of public funds (taxes). In addition, financial reporting should provide internal guidance to program managers to maintain budgetary control and to arrange city council and board of directors to provide adequate financial policy guidelines.
The Government of the United States in general has tried to improve the quality of financial reporting. The Government Accounting Standards Board (GASB) has another mission to "establish and improve state and local government accounting standards and financial reporting that will generate useful information for users of financial statements and guide and educate the public, including publishers, auditors, and users of financial statements The statements in particular tend to combine more comparable elements of the business sector.
The needs and value of financial managers have increased. Over the past several decades, a number of factors have created a rapidly changing environment for today's government finance managers. Beginning with the financial crisis of New York City in the 1970s and 1980s, state and local governments began to reform their financial management systems. In 1990, Chief Financial Officer (CFO) acted to call for reforms that bring accountability objectives to the forefront. 1994 Orange County Bankruptcy California further underscores the need for excellence and ongoing expertise in city finance.
Video Government Finance Officers Association of Texas
GFOAT Membership Role
Members are finance directors and treasurers of municipalities and other local government agencies, whether elected or appointed, have responsibility for the collection, acceptance, reporting, custody, investment or disbursement of municipal funds. City funding sources are mainly property taxes, sales taxes, income taxes, utility user taxes (UUTs), temporary occupancy (hotel occupancy) taxes, and user fees such as licenses and license fees.
Glenn Hegar is Texas Texas State Account Controller. The Texas State Treasurer office was established in the Constitution of 1876. It replaced a similar office in the Republic of Texas. The treasurer was elected to serve for four years as head of the Treasury Department. The office was removed by Texas voters in 1995 and officially closed in 1996, with assignment taken over by the Texas Public Account Controller.
Texas has 254 districts, most of which state. In 2000, six cities in Texas had a population of over 500,000. The two largest are Dallas and Houston. Texas has the most cities with populations in excess of 1,000,000 states: Dallas, Houston, San Antonio. All three ranks among the 10 most populous cities in the United States. Austin, Fort Worth, and El Paso are among the 25 largest cities in the US. Texas has 25 metropolitan areas, four of which have populations in excess of 1,000,000: Dallas-Fort Worth, Houston, San Antonio, and Austin-Round Rock. The metropolitan areas of Dallas-Fort Worth and Houston each have about 5 million inhabitants.
Many Municipal Treasurers are elected, and therefore directly accountable to their constituents; the remainder is appointed by the City Council or City Manager. The Finance Director is usually appointed by the City Manager.
In addition to cities and counties, Texas has many special districts. The most common are independent school districts, which (with one exception) have independent supervisory boards from other regulatory authorities. Other special districts include Groundwater Conservation District (regulatory body), river authority, water supply districts (for irrigation or municipal supplies), public hospitals, street districts and colleges.
Maps Government Finance Officers Association of Texas
Professional Standards Settings
Certification is a guide for financial directors and city treasurers to be a valued administrator in local government. GFOAT encourages professional certification for public finance directors and treasurers who meet educational standards, experience, and commitment to the code of ethics. GFOAT offers its own post-nominal professional certificate, a Government Certified Government Financial Officer (CGFO) similar to GFOA that administers Certified Professional Finance Officer (CPFO), and Certified Government Finance Certification (CGFM) certification in Federal Government, State, and Local Government Finance from the Government Accounting Association (AGA).
GFOAT Code of Conduct
All members of government finance staff are instructed to adhere to legal, moral and professional standards of conduct in fulfilling their professional responsibilities. The standards of professional conduct as set out in this code are enacted to improve the performance of everyone involved in public finances.
I. Personal Standards The government financial officer must demonstrate and be dedicated to the highest ideals of honor and integrity in all public and private relationships to gain the respect, trust and confidence of the governing officials, other public officials, employees, and from me he is public. They will devote their time, skills, and energy to their office independently and work with other professionals. They must comply with approved professional practice and recommended standards.
II. Responsibility as Public Official Government finance officers must recognize and be responsible for their responsibilities as officials in the public sector. They must be sensitive and responsive to the rights of the people and their changing needs. They must strive to provide high quality performance and advice. They should apply caution and integrity in the management of funds in their custody and in all financial transactions. They should uphold the letter and spirit of the constitution, the laws and regulations governing their actions and reporting the violation of the law to the authorities.
I, I, I. Professional Development Government finance officers are responsible for maintaining their own competencies, to improve the competence of their peers, and to encourage those who want to enter government finance. Financial officers should promote excellence in public services.
IV. Information Integrity Professionals Government financial officers must demonstrate professional integrity in the publishing and management of information. They will not consciously sign, subscribe, or permit the publication of any statement or report containing misstatements or omitting any material facts. They must prepare and present financial statements and information in accordance with applicable law and generally accepted practices and guidelines. They should respect and protect the privileged information they access based on their office. They should be sensitive and responsible for questions from the public and the media, within the framework of state or local government policy.
V. Integrity-Professional Relations Government finance officers must act with honor, integrity, and virtue in all professional relationships. They must demonstrate loyalty and trust in the affairs and interests of the government they serve, within the limits of this Code. They will not consciously become parties or condone any illegal or inappropriate activity. They must respect the rights, responsibilities and integrity of their colleagues and other public officials with whom they work and mingle. They must manage all personnel within their scope of authority so that justice and impartiality govern their decisions. They should promote equal employment, and thus, oppose discrimination, harassment or other unfair practices.
VI. Conflicts of Interest Government financial officers must actively avoid the emergence or the fact of a conflict of interest. They will carry out their duties without assistance and will not engage in any outside financial or personal interests that are inconsistent with the execution of its objective and objective tasks. They will not, directly or indirectly, seek or receive personal benefits that will affect, or appear to influence, the performance of their official duties. They should not use public property or resources for personal or political gain.
Training and Education at Texas Finance and Treasury
The statewide GFOAT annual conference provides educational on many topics and alternates each year between different northern and southern cities. By assembling leadership from broad representatives of government agencies and also bringing in key experts in various disciplines, the collective skills and professionalism of financial managers and policymakers are enhanced and improved.
All-Country Finance Leadership
GFOAT is recognized as a primary source of expert knowledge in public financial management by training leadership in research, recommended practice and policy development, and dissemination of information. National recognition continues through continued association with the Government Finance Officers Association (GFOA). State-wide recognition is enhanced through the full participation of members drawn from different cities, districts and districts.
The Committee on Establishing Financial Leadership further by engaging in efforts to assist state finance officers to develop the skills and abilities necessary to enable them to become leaders of organizations and technical experts.
Resources
GFOAT seeks to facilitate inter-agency communication for the purpose of sharing information and best practices, working with and complementing the services provided by other organizations to improve the effectiveness of all.
Like GFOA nationally, GFOAT sponsors a rewards program designed to encourage sound financial reporting in Texas, for financial documents including comprehensive annual financial statements, or CAFR, and annual budgets.
GFOAT provides information technology and analysis tools to help governments identify and implement appropriate economic technologies to support efficient allocation of resources, quality services, and effective decision making and to encourage citizen engagement.
See also
- American Institute of Certified Public Accountants (AICPA) Private Sector Accounting
- Government Accounting Standards Board (GASB)
- Government Finance Officials Association (GFOA)
References
External links
- Official website
Source of the article : Wikipedia
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