Plans were made for the first conference, which was held April 18-19, 1968, at the Executive Motor Hotel, Richmond, at which time the Association was officially organized. The meeting was a big success. There were 55 finance officers and 11 guests in attendance. The By-Laws adopted by the membership included the purpose of the organization as follows:

"The purpose and objectives of this association shall be to promote the improvement of methods of governmental finance and to extend the educational and professional activities of the members in the Commonwealth of Virginia as developed and recommended by the Government Finance Officers' Association of the United States and Canada, the National Committee on Governmental Accounting, and other recognized authorities in the field of municipal administration, which include the development of mutually understandable procedures of accounting, auditing, budgeting, and financial reporting; the encouragement of the use of common terminology, classification, and principles in regards to those subjects; the discussion and analysis of financial problems, the achievement of recruitment and training of qualified public officials and employees; the achievement of greater success in efficiency and service of government; the development of closer relationships and understanding among those concerned with public finance; and other objectives of mutual interest to public finance officers."

At the regular business meeting held on October 5, 1984, the members voted to change the name from Virginia Municipal Finance Officers' Association to Virginia Government Finance Officers' Association. It was felt that the new name was more representative of the membership.The current Committees of the Association are:
 

• Education
• Government Finance Research
• Membership & Awards
• Nominating
• Audit
• Time & Place
• Newsletter
• Budget

The Education Committee holds seminars each year to train members and their staff for professional growth. The Government Finance Research Committee is active in reviewing fiscal policy, either recommended or adopted by the Virginia General Assembly and at the national level as well as information from the Government Accounting Standards Board; the State Auditor's Office and other organizations that may impact the local government finance office. A HUD Grant was received to form a training program which helped identify needs of the membership. This resulted in a more systematic educational program being developed in order to address those needs.

The reward for our success can be attributed to those who efforts went toward organizing the Association and to those who strive to keep it moving forward