CGFOA Golf Tournament Canceled
The 2020 Annual CGFOA Golf Tournament has been canceled. Sponsorships already paid will roll over to 2021 unless you contact Kathy Velzen for a refund. Mark your calaendars now - the 2021 Tournamnt will be held on May 21 at Coal Creek Golf Course in Louisville, CO. Thank you for your continuing support of CGFOA!
18-Month Delay for GASB Leases; One Year for All Other Statements
In response to the challenges arising from COVID-19, on May 7, 2020, GASB approved Statement 95,
Postponement of the Effective Dates of Certain Authoritative Guidance. While the proposal included an extra year
to implement all guidance, GASB, in a unanimous vote, approved an 18-month postponement for Statement 87,
Leases. All statements and implementation guides with a current effective date of reporting periods beginning
after June 15, 2018, and later will have a one-year postponement. This change is effective immediately.
In addition, GASB posted a toolbox on its website to assist governments to identify the guidance to address COVID-
19-related issues. Topics covered include impairment, contingencies and revenue and expense recognition. GASB
also has extended comment period deadlines on outstanding exposure drafts and is rescheduling previously
planned public hearings to the second half of 2020. Future statements finalized will include additional time for
CARES Act Funds Distribution Committee
A few weeks ago, CGFOA was asked to have two representatives be part of a DoLA Review Committee.
Purpose of the Review Committee:
- Analyze short and long term COVID fiscal impact and funding needs;
- Determine and review COVID related direct and indirect state and federal funding resources to support local governments fiscal recovery needs;
- Recommend a funding formula or process for possible distribution of CARES Act funds to other local governments including special districts; and
- Provide feedback and input to OSPB on the state’s fiscal and budget reduction plans which will have impact on local governments
Review Committee Membership:
- Two members from each of the local government associations: CML, CCI, SDA and CCAT. Two members from CCCMA and CGFOA
- Co-Chairs: DOLA, Rick Garcia, Governor's Office Cary Kennedy
- Review Committee may establish topical subcommittees for further due diligence
Special thanks to CGFOA Board Members Mike Varnet, Pikes Peak Library District, and Glenda Aragon West Metro Fire Protection District who stepped up to be part of that committee! After being part of the committee meeting, Mike and Glenda drafted a letter to DoLA recommending an approach to the distribution allocation methodology for the funds available through the CARES Act. It looks like that letter has had a positive affect and we wanted to share it with all friends of CGFOA.
Here is the letter:
May 28, 2020
Rick Garcia, Executive Director
Cary Kennedy, Sr Advisor
Division of Local Government
1313 Sheman St. Rm 521
Denver, CO 80203
Dear Mr. Garcia & Ms. Kennedy,
Thank you for giving the Colorado Government Finance Officers Association (CGFOA) the opportunity to participate in the discussions regarding distribution allocation methodology for the funds available through the CARES Act. The CGFOA Board has discussed possible distribution allocation methods and would like the State of Colorado Division of Local Affairs (DOLA) team to consider the following methodology:
Subject to ~$400MM Distribution
- DOLA directly administers the funding distribution.
- Distribution of funds would be based on direct expenses related to COVID-19, and not be based on population. Population would only be a method of pooled funding availability by county.
- Consider Municipalities and Special Districts to receive funds directly from DOLA that are in the “Big five” boundaries that received little or no funding from their respective counties.
The recommendations above were developed by taking into consideration the smaller local governments with a transient population and those with operations that would be more heavily impacted, like police, fire, and ambulance services. We also considered those municipalities, counties and special districts that have been impacted with little to no recovery from county, state, and federal funding resources.
The Board wants to reiterate the importance of an immediate disbursement with no political restrictions as initially proposed by the DOLA committee. A simple distribution based on need/impact throughout the entire state would be in the best interest for the citizens we serve.
Thank you for your consideration.
Colorado Government Finance Officers Association
Glenda Aragon, CGFOA Board Member
Finance Director, West Metro Fire Rescue
Michael Varnet, CGFOA Board Member
CFO, Pikes Peak Library District
New Website Feature - Job Opportunities
As promised, we are sharing with you the new features available on our website. This next feature is on Job Opportunities! In the past, requests to post jobs were sent directly to Kathy. With this new technology, members are able to post jobs directly on the site!
Where are Job Opportunities listed?
When you visit our website at www.cgfoa.org, you’ll see a link for Job Opportunities in the navigation menu on the left side of your screen.
Who can see Job Opportunities?
Posted Job Opportunities are visible to anyone who visits are site. Users do not have to be logged in to see posted Job Opportunities.
Who can post a Job Opportunity?
Any active, logged in member can post a Job Opportunity. Other than your membership fee, there is no cost for posting Job Opportunities on our website. The Job Opportunities list is intended for Government Member organizations only.
How do I post a Job Opportunity?
To post a Job Opportunity, log in and click on Job Opportunities. You’ll see a list of open positions. At the top of the screen is a button called “Submit an Ad”. When you click this, you’ll be brought to a short form which you can complete. We recommend you include a link to the job posting in the details section of the form. While the person making the posting must be an active member, you can list another person as the contact (for instance, a member of your HR team). Once you are done, click submit.
After your posting is submitted, you’ll receive a confirmation email. Job Opportunities are reviewed prior to posting, so please allow up to three days for review. All Job Opportunities are archived after 2 months. If you would like your posting removed sooner, please reach out to Kathy at [email protected].
CGFOA Member Forums
The launch of our new website has brought us a number of new opportunities for using technology to network and share information. Over the next several weeks, we’ll be sending emails highlighting these new features and how you, as members, can use them. This first feature will cover the new Member Forums!
What is a Forum?
A Forum is a conversation string that can involve any active member and any topic. Forums are good places to ask questions and share information, similar to how a Listserv is used.
What Forums are available?
Our website has four Forum Categories established, which include Finance Officers, CTAC, COVID-19, and Associate Resources. The purpose, use and restrictions of each Forum is described on the website. Note that not all Forums are available all members. Review Forum descriptions for information. Each Forum can contain multiple threads, which are conversations/postings from members on various topics.
How do I use Forums?
In order to see and/or comment on a Forum, you must be logged in as an active member. To do this this, go to www.cgfoa.org and click “Login”. Once logged in, go to the Member Area on the left and select Member Forums. You will then see the Member Forums that are available to you.
Within each Forum Category, you can see active Forum threads and subscribe to those threads so that you are notified of new posts. While users are not able to create Forum categories, you do have the ability to create a thread within a category. For instance, you could create a thread in the COVID-19 Forum Category asking others how they are tracking emergency costs, or you could create a thread in the Finance Officers Forum Category asking for advice on implementing GASB 84.
Why should I use Forums?
Our best resource is each other, and Forums allow us to connect on issues that we care about. The more people subscribing to Forums, the better information we’ll be able to gather from each other. We hope you visit the new webpage and explore this new feature!
If you are unable to login to the members section it means your membership is expired. You'll need to renew (if your membership has been expired for less than 90 days) or join if your membership expired more than 90 days ago in order to access this feature! Renew or Join today!