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ello, my fellow Finance Officers! It is always shocking how fast time flies! As I write this letter to all of you, I realize we are only three months away from our annual conference in
Vancouver, and the ending of my term as president. Part of the reason it has gone so quickly is due to all I have experienced in these past few months.
Part of the responsibility as WFOA President is to visit out-of-state conferences as I reported in our last newsletter about Alaska. Since then, I have gone to the California Society of Municipal Finance Officers Conference in Riverside. Attending this conference allowed me to bring back some great ideas for our Education and Conference Committees. I was provided the opportunity to network with outstanding people. On a personal level, I attended some excellent leadership sessions.
Next, I attended the Oregon Government Finance Officers Conference in Bend. This conference was beneficial because again, I brought back session and speaker suggestions for our group. I was able to foster new, and solidify existing, relationships with vendors and peers. Oregon shares many of our same issues, so the sessions were relevant and practical. Also, the confer-ence was small enough that it really felt like I was being brought into a family-like atmosphere. In April, I attended the Washington Public Treasurer’s Association in Chelan in an official capac-ity. I have been going to this great conference for years. However, this time I was representing our membership where I was just one small ingredient to Nicole Muegge’s “Recipe to Success”! - Well done Nicole!
Ending my whirlwind tour, I attended the GFOA conference in St. Louis. I was able to participate in a meeting with other state presidents and representatives and hear about the emerging issues they all face. One of the recurring themes was the concern for our sustainable workforce and intern programs. I was honored to share how WFOA has been a leader in this area. I bragged about how our new Professional Development & Sustainability Committee works hard with SAO and our intern program founder, Sandy Langdon. Committee members involved in this effort rep-resent government finance and our internship and scholarship program at job fairs in universities and colleges across the state!
Being able to make all these visits has been a wonderful opportunity that will always be trea-sured. I have grown in my leadership capabilities, overcome my fear of speaking in front of hundreds of people and made so many connections and friends. Thank you WFOA for giving me this gift! I would encourage anyone who is looking for fun and rewarding leadership opportunities to consider getting involved in the many committees of WFOA. You can send a WFOA Position Application to any Board member. You won’t regret it!
WFOA Newsletter is published quarterly for members and friends of the
Washington Finance Officers Association.
WFOA OFFICERS2017 - 2018
Jana Brown, President City of Poulsbo200 NE Moe St,Poulsbo, WA [email protected]
CraIG warnEr, President-Elect Yakima County 128 N 2nd St. Yakima, WA 98901 509-574-1313 [email protected]
BraD PoSEnJaK, Vice President City of Wenatchee 129 South Chelan Ave. Wenatchee, WA 98801 509-888-3610 [email protected]
DaLE HoUGH, Treasurer Lacey Fire District 3 1231 Franz St. SE Lacey, WA 98503 360-528-2310 [email protected]
JaCK BroYLES, Secretary Woodinville Water District 17238 NE Woodinville Duvall Rd Woodinville, Wa 98072 425-487-4106 [email protected]
ADÉ arIwooLa, Past President City of Federal Way 33325 8th Ave. S. Federal Way, WA 98003 253-835-2520 [email protected]
JULY 2018 edition 2
President’s Message
(Continued on next page)
HJana Brown
Finance officer association presi-dents from western states are pictured at the Bend, Oregon confer-ance are, from left, Ryan Williams, Alaska; Jana Brown, Washington; Tod Burton, Oregon; Margaret Moggia, California.
During this time, we also had some real work to do as a Board. There is an important article in this newsletter that explains fiscal stewardship the Board displayed at the last Board meeting. We really had to make some tough decisions and I think we did what was right for our membership. Sadie Armijo and her committee has been working hard performing outreach at universities, promoting the intern program and looking for ways to provide member recognition. We have had some Board position changes that we had to either fill or find ways to cover. Let’s not forget were also onboarding our new conference partners, Conference Solutions. They are doing a fantastic job; however it does take resources to get them up to speed on all things WFOA!!
In closing, I just would like to extend my invitation to you to join us in Vancouver on September 18-21 for our conference. Carrie Lewellen has written a nice article about what is in store for you. Conference Solutions is sending out great flyers that hopefully you are receiving! I would just like to remind you about our theme, “Find the Balance”. As I write this letter to you, I am reminded that we are living in crazy times, with so much happening in our lives, on the news, in our jobs and right here on our Board. My hope for all of us is that we find time in the next few months to stop and take time for yourself, breathe deeply, and enjoy this beautiful state we live in. We all deserve it! See you all soon, Jana
WFoA BoArd MeMBers & CoMMittee ChAirs
DAN LEGARD2017 Conference [email protected]
CARRIE LEWELLEN2018 Conference [email protected]
FORREST SMITH2019 Conference [email protected] SADIE ARMIJOProfessional Development & Sustainability Committee Chair [email protected] BETH WRIGHTEducation [email protected]
MICKIE COOPEREducation [email protected]
STACIE TELLERSLegislative & Professional Standards [email protected]
Member Communications/Scholarship ChairCurrently Vacant
KELLY COLLINS State Auditor [email protected] TONI NELSONMRSC Rep.206-625-0916 Ext. [email protected]
State Treasurer Rep.Currently Vacant
Washington Finance Officers Association page 2 JULY 2018
President’s Message . . .
THANK YOU TO OUR 2018 CONFERENCE
DIAMOND LEVEL SPONSOR
(Continued from page 1)
By STACIE TELLERSLegislative and Professional Standards Chair
The Governmental Accounting Standards Board (GASB) establishes generally accepted accounting principles (GAAP) for state and local governments. All state-ments, exposure drafts and other documents for public comment are available from
the GASB website, free of charge.Hot off the Press: Implementation Guide 2018-1
Implementation Guides are developed to provide guidance to state and local governments that clarifies, explains, or elaborates on GASB Statements.
The 2018-1 Implementation Guide provides, in question and answer format, guidance on:• Pensions• Post-employment Benefits Other than Pensions (OPEB) Plan Reporting• Statistical Section of the Comprehensive Annual Financial Report (CAFR)• Statement 62: Codification of Accounting and Financial Reporting Guidance• Statement 72: Tax Abatement Disclosures• Amendments to Previously Issued Implementation Guides (pensions, financial statement prepara-tion, and the Management’s Discuss and Analysis).
It may sound like a lot, but the 2018-1 Implementation Guide only has 6 pages of Q&A. Relatively small in comparison to previously issued guides! This guide is effective for reporting periods beginning after June 15, 2018. Look to implement in your 7/1/2018 – 6/30/2019 or 1/1/2019 – 12/31/2019 financial reports.
GASB Update
THANK YOU TO OUR 2018 CONFERENCE PLATINUM LEVEL SPONSORS
WFOA sadly has a vacancy to fill in the Member Communications/Scholarship Chair Board position. This also means that we have a vacancy in the WFOA Newsletter crossword puzzle. In lieu of the crossword competition, please send any interesting tidbits of WFOA history that can be included in the next newslet-ter. Photos are always welcome! Please submit these ideas to Brad Posenjak. It could be worth the $5 Starbucks gift card prize.
Crossword Puzzle Competition on Hold
Washington Finance Officers Association page 3 JULY 2018
By CARRIE LEWELLEN2018 Conference Chair
egistration is now open for the 2018 WFOA Annual Conference September 18 – 21 at the Hilton Vancouver Conference Center. Come enjoy everything that Vancouver has to offer while taking advantage of the outstanding educational and net-working opportunities our conference offers. As finance professionals, we continue to look for ways to “Find the Balance”. This can be at work, work/life balance, or even through our daily exercise routines.
Join us in Vancouver for an outstanding week of education and fun! Expand your conference educational opportunities by registering for one of the full or half-day pre-conference sessions on Tuesday, or start your conference experience at the annual golf tournament at the Tri-Mountain Golf course in Ridgefield. As an alternative, we are also offering a three-hour guided kayaking excursion Tuesday afternoon at the Ridgefield National Wildlife Refuge.
We will open the conference with keynote speaker Joel Zeff, featuring “The Tao of Ta-Da”, Watch What Happens When Work Becomes Play”. After a full day of classes on Wednesday, join us for a wellness event at Esther Short Park, which will include a walk around the new waterfront park, and other fun activities. Following that, join your peers at Esther Short Park for our Wednesday evening reception, which will feature light refreshments and beverages.
On Thursday, keynote speaker Michael Feroli, Chief US Economist at J.P. Morgan will share the current economic view. After you enjoy another full day of educational opportunities Thursday, join us for our conference banquet. The banquet promises to be a great evening with wonderful food, friends, and entertainment from Hit Explosion! Friday morning’s keynote speaker will feature Kelly Pope sharing a story called “All the Queen’s Horses” about one of the largest municipal fraud cases in American history.
I would like to take an opportunity to thank the many volunteers who help to make our annual conference possible, including our sponsors, the WFOA Board of Directors, the Education Com-mittee, and members of the Local Conference Committee. Without their hard work and enthusiasm for WFOA and this conference, our annual conference wouldn’t be possible. We’re looking forward to seeing you in Vancouver. Take advantage of early bird pricing and register today,. Please note there are still rooms available at the Heathman Lodge which are offered at the per diem rate. Thank you!
Join Us for a Week of Education and Entertainment!
2018 wFoa Conference
Sept. 18 - 21, 2018
Hilton Vancouver Convention Center
Vancouver, WA 98660]
REGISTRATION INFORMATION
R
THANK YOU TO OUR 2018 CONFERENCE GOLD LEVEL
SPONSORS
THANK YOU TO OUR 2018 CONFERENCE SILVER LEVEL SPONSORS
WFOA has heard that some members are not receiving messages coming from our conference partners, as they send out conference information on our behalf. The best way to ensure emails do get to your inbox is to add [email protected] to your ‘Safe Sender’ list. Also, if you are an entity who typically pays for training by check. Be sure to note the two different mailing addresses we now have:
WFOA Non-Conference Training: WFOAc/o MRSC2601 4th Avenue, Suite 800Seattle, WA 98121
WFOA Annual Conference: Conference SolutionsAttn: WFOA 20181033 SE Main Street, Suite 4Portland, OR 97214
Are You Receiving WFOA Partner Messages?
washington Finance officers association page 4 JULY 2018
t is the desire of the WFOA Board to keep you informed of issues that affect you and your organization. During its April Board Meeting, the Board discussed a couple of items relating to our operating budget. One was the increasing costs, mainly that of catering, at our annual conference and the second was the projected cash flow of the Association as a whole.
Let us begin with the conference costs: as many of you know, due to the size of our conference, we are limited to only a handful of conference centers and locations throughout the state. We choose the location and then we must use the food services the convention center provides. This year, our catering budget had to be increased by 40%. When WFOA contracts for an event this large, two to three years in advance, this increase is something that cannot be anticipated. As discussed in the September 2017 newsletter, the Board also decided to utilize conference planning services. These services have relieved stress on our volunteers and their organizations, but it has also added to the conference cost.
As a result of these increases, your Board looked very closely at the budget and projected a cash-flow forecast showing that expenditures are increasing across the board. It was prudent for the Board to recognize this early and make the necessary adjustments. There will be some minor cuts to this year’s conference that hopefully you will not even notice. We are also looking closely at other expenses. However, we want to assure you it will not affect our education program which is the highest priority and the foundation to WFOA’s mission.
The next step was to think about the future and to assure we have the revenue to sustain a positive fund balance for years to come. We looked at both our training rates and our membership rate. In comparison to other associations, both are well below average. WFOA has adjusted training rates minimally over the years. However, our membership rate of $50 has been static since 1984. As a Board it was decided to raise the membership rate, using other comparable organizations as a guide. For the benefit of our members, we also decided to do so over a two-year period and communicate the change immediately so that budgets can be adjusted if needed.
During the meeting the rate of the Affiliate Membership was not addressed and will be discussed at the July Board meeting. The Board has put much thought and work into this process and it will be ongoing. Another key aspect to this was the question: What does WFOA provide to its members for the dues it receives? The following list of items were developed by the Board:
Benefits of Being a WFOA MemberMembership in WFOA brings many benefits to you and the government in which you represent. It can help advance your career. It can keep your government relevant and forward thinking. Membership provides access to over 1,200 peers, all working to resolve similar issues and make their governments better.
Living in the Past – Selected WFOA HistoryWFOA’s first annual meeting was in Vancouver in October of 1956. One of the first motions passed by the newly formed organization was to recommend to the Association of Washington Cities that RCW 35.22.270 be amended to eliminate the 50 percent limitation of treasury cash investments and make the amount discretionary with the legislative body of the government entity. Five months later, this proposed legislation was approved by Governor Albert Rosellini.
Although WFOA was formed in 1956, it appears there was no official WFOA logo until 1972 when it appeared in a newsletter. The 1972 logo remained largely unmodified until 2000 when an early version of the current WFOA logo was published.
MEMBERSHIP RATE CHANGES:
2019- Active Membership – Annual Dues $75 2020- Active Membership – Annual Dues $100
Government Benefits• Members receive relevant and timely content that will enhance your job performance and potentially help to maintain your entity’s compliance with many of the ever-changing financial requirements.• Members receive discounts on the annual conference and non-conference training.• Non-conference training can be arranged locally, and two staff members can attend for free in exchange for coordination.• Scholarship resources are available for all training opportunities.• WFOA provides a partnership and collaborative relationship with the State Auditors Office and the State Treasurers Office.• Education curriculum is focused on topics relevant to Washington State government agencies.• Members have access to the WFOA website and newsletter; both are resources for finance professionals including information on legislative and accounting standards, training opportuni- ties, employment opportunities, and fellow member contact information.
Career Benefits • Obtain “how-to” instruction on a wide range of financial topics • Enhance your technical skills• Broaden your knowledge and deepen your expertise• Achieve professional recognition• Coordinate efforts with colleagues• Develop leadership skills• Network with finance professionals, many who have an incredible amount of institutional knowledge and experience
Along with these existing benefits, your Board is working to incorporate more webinars, there is discussion of enhancing the website and making a section for members only and looking for other ways to directly benefit our members. Please feel free to contact anyone of us on the Board and provide your suggestions or feedback. We want to hear from you!
I
Higher Costs Force Increase in WFOA Membership Rates
From the WFOA Board of Directors
Washington Finance Officers Association page 5 JULY 2018
New Look for Local Government Financial Reporting System
THANK YOU TO OUR 2018 CONFERENCE BRONZE LEVEL SPONSORS
he Office of the Washington State Auditor is committed to making information about local gov-ernment operations around the state more transparent and accessible. As a part of that com-mitment, the Auditor’s Office has updated the look and feel of its Local Government Financial
Reporting System, or LGFRS. The Auditor’s Office has long provided unaudited financial data filed by local governments on its website via LGFRS.
This tool has a new look (below) and now is even easier to use and understand. LGFRS can help users learn more about local governments’ revenues and expenditures, as well as how selected governments spend resources on resident services.
So what can you do with LGFRS? You can search for similar governments and compare their data, look at sources of revenue separately (which means you can see where a government’s money is coming from) and dive into individual funds to see what’s different — for example, to compare a government’s general fund with its utility or special revenue funds.
We want to know what you think about our updates and improvements to the LGFRS tool. Try the new and improved LGFRS for yourself, then use the link inside the tool to provide us feedback.
T
FRIENDS OF WFOA
WASHINGTON REGIONAL FINANCE OFFICER
GROUPS
Sno-King Utility Finance OfficersQuarterly: as announcedContact: Robert Wagner360-668-6766 [email protected]
Puget Sound FinanceOfficers Association2nd Wednesday of February-March, May-August, October-December
Olympia AGA (www.aga-olympia.org)Monthly – as announcedContact: Stefanie [email protected]
Eastern Washington Finance Officers AssociationSecond Friday in May & OctoberAll-day workshopContact: Marsha [email protected]
SW WashingtonFinance OfficersFeb., May, & Nov. (location TBA)Contact: Mari Ripp360-225-8281 [email protected]
Central Washington AGAMonthly: Second Wednesday, noonContact: Judy [email protected]
