'Developing Governmental and Financial Leaders'         

The Virginia Government Finance Officers' Association shall be the premier organization in developing leaders with financial and management expertise, through education, fellowship and professional development, to foster excellence in government.

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VGFOA News and Events:


VGFOA Executive Board

Officers 2013-2014:
President - Barbara Dameron
President Elect - Jon Munch
Past President - Charles Ramsay
Treasurer - Kim Williams

Board Members/Directors:
Diane Bergeron
Sharon Day
Renee Hoover
Jon McCubbin
Terrie Pyeatt
Kathy Seay
Pon Yusuf

Executive Secretary:
Kenneth Folk


VGFOA
Future Conferences

Spring Conferences:
- May 20-22, 2015
        Hilton Virginia Beach Oceanfront Hotel 
- May 4-6, 2016
        Hilton Virginia Beach Oceanfront Hotel
- May 10-12, 2017
        Hilton Virginia Beach Oceanfront Hotel

Fall Conferences:
- October 22-24, 2014
        Hilton Richmond Hotel & Spa/Short Pump
- October 21-23, 2015
        Staunton Stonewall Jackson Hotel
- October 26-28, 2016
        Hilton Richmond Hotel & Spa/Short Pump
- October 24-26, 2018
        Hilton Richmond Hotel & Spa/Short Pump

 

Contact VGFOA

VGFOA
919 E. Main Street, Suite 1100
Richmond, VA  23219
Phone:  804-249-4525
Fax:  804-783-2286
Email VGFOA

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2014 Fall Conference

October 22-24, 2014
Hilton Richmond Hotel and Spa
Richmond, VA




Registration for the 2014 Fall Conference is now available! Click Here to register. Check the 2014 Fall Conference website often for updates.
 

2014 VGFOA Board Nominations

Do you know someone who can help strengthen the VGFOA?  Individual members have the opportunity to nominate current Full Members as candidates for Board service.

Nominations are being accepted for the following Officer and Board positions:

  • President Elect with term expiring October 2015
  • Board Member with term expiring October 2017
  • Board Member with term expiring October 2017

The Nominating Committee presents its recommended slate to the Executive Board and then to the Full Membership for vote at the Annual Business Meeting on Thursday, October 23rd at the Short Pump Hilton Hotel in Richmond, Virginia.

Members are asked to use the VGFOA Executive Board Nomination Form to submit names to the Nominating Committee for consideration. This form should be submitted by August 5, 2014.

 

2015 VGFOA Certificate Program Scholarship

We are currently accepting applications for the 2015 VGFOA & Radford University GNAC Certificate Program Course Scholarships. The scholarships will be valid for the entire 2015 calendar year and winners may choose any Certificate course offered during that time period.

The application deadline is Friday, August 1, 2014.

Please click here for the application and more details.

 

2014 Regional Organization Training Events

Southwest – August 6 (Various Topics; Ethics), December 3

Central – September 12 (GASB Update, etc.), December 5

NOVA – November (TBD)

Hampton Roads

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2014 Certificate Course Schedule

The following is the schedule for 2014 Certificate courses, for planning purposes only.
2014 Dates Course Location
July 31-Aug 1 Issuing Debt & Debt Management Henrico
Aug 7-8 Issuing Debt & Debt Management Fairfax
Sept 18-19 Human Resource Management Fairfax
Sept 25-26 Operating & Capital Budgeting Roanoke
Nov 13-14 Grants Management Roanoke
Dec 4-5 Operating & Capital Budgeting Chesapeake
Dec 18-19 Cash Management & Banking Fairfax
 

 Sequestration Impact on

Federally Subsidized Bond Payments

The automatic spending cuts (the “sequester”) that went into effect on Friday, March 1st, 2013, will continue for Federally Subsidized Bond payments into fiscal year 2014.  This includes Build America Bonds (“BABs”), Qualified Zone Academy Bonds (“QZABs”), Qualified School Construction Bonds (“QSCBs”), and Qualified Energy Conservation Bonds (“QECBs"). 

The Internal Revenue Service issued guidance that the exact percentage of cuts for BABs and other direct-pay bonds will be 7.2% for the federal fiscal year 2014, which covers the period of October 1, 2013 through September 30, 2014. The IRS has noted that payments processed during this period will be reduced by the 7.2% sequestration rate irrespective of when the amounts claimed by an issuer on any Form 8038-CP was filed with the IRS. 

Issuers must continue to submit Forms 8038-CP for the full amount of their subsidy payments in accordance with the Form 8038-CP instructions. Affected issuers will be notified through correspondence that a portion of their requested payment was subject to the sequester reduction.

Issuers of federally subsidized bonds affected by sequestration may be able to pay their bonds off early – prior to maturity – by utilizing Extraordinary Redemption Provisions included in many bond issues.

It is unclear how long the sequestration will last, and what the impact to issuers will be. Issuers should plan on reductions and/or delays in payments should the sequestration continue for an extended period of time.  

For more information on the effects of the sequestration on federally subsidized bonds payments, go to:

Update: Effect of Sequestration on Certain State & Local Government Filers of Form 8038-CP

 
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VGFOA Responds to GASB Exposure Drafts

VGFOA has released a response to GASB's Exposure Draft: proposed Statement of Government Accounting Concepts - Measurement of Elements of Financial Statements, along with a Response to GASB's Preliminary Views of the Governmental Accounting Standards Board on Fair Market Value and Application.

Copies of all the recent VGFOA responses are available under Association Positions. VGFOA position statements are developed by the Standards Setting Committee for the signature of the VGFOA President.
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