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2008 Annual Business Meeting

2008 Annual Business Meeting. WFOA BOARD OF DIRECTORS – 2007-2008. Executive Board PRESIDENT ------------ Tim Jensen PRESIDENT ELECT --------- Sandy Langdon VICE PRESIDENT --------- Dan Underwood TREASURER ---------- Ron Cone SECRETARY --------- Yvonne Ziomkowski

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2008 Annual Business Meeting

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  1. 2008 Annual Business Meeting

  2. WFOA BOARD OF DIRECTORS – 2007-2008 Executive Board PRESIDENT ------------ Tim Jensen PRESIDENT ELECT --------- Sandy Langdon VICE PRESIDENT --------- Dan Underwood TREASURER ---------- Ron Cone SECRETARY --------- Yvonne Ziomkowski PAST PRESIDENT ------- Jim Chase At-Large Board Members AWARDS PROGRAM ---------------------------- Bonnie Fell EDUCATION CO-CHAIR ----- --------------- Donya Gregson EDUCATION CO-CHAIR --------------------- Marilou Moore LEGISLATIVE -------------------- ---------------- Dan Mason MEMBER COMMUNICATIONS/SCHOLARSHIP - Joe Delaney PROFESSIONAL STANDARDS/GFOA ---------- Mark Neary PUBLIC RELATIONS-------------------------- Rob Hendrickson 2007 CONFERENCE CHAIR ------------------- Anna Stroben 2008 CONFERENCE CHAIR ------- ----------- Craig Warner 2009 CONFERENCE CHAIR ---------- ----------------Jan Hawn Appointed STATE AUDITOR’S OFFICE ---------------------- Chuck Pfeil STATE TREASURER’S OFFICE ----------- Michael J. Murphy MRSC REPRESENTATIVE ----------------- Marcie Klobucher

  3. Past Presidents Thank you for your dedication to the WFOA Thank you for attending this conference

  4. Out of State Guests Alaska – Mary Munk – City of Kodiak Oregon – Dean Stephens – Benton County British Columbia – Suzanne Fillion – City of Surrey

  5. Government Finance Officers Association Paul Macklem – City of Kelowna

  6. Government Finance Officers AssociationIssues Briefing Paul Macklem, GFOA President-Elect Washington Finance Officers Association 53rd Annual Conference Yakima, WA, September 18, 2008

  7. AGENDA • INTRODUCTION • GASB • FAF • SEC • IT

  8. Kelowna, B.C. Population 113,000

  9. GASB Governmental Accounting Standards Board (Delegated standards setting for accounting and financial reporting)

  10. GASB – GFOA Position • Confusing accounting with accountability • Performance measurement – jurisdiction issue • There isn’t an accounting solution to every financial problem • Transfer to FASB not a viable alternative • Growing movement toward global convergence in private-sector standards • GFOA remains committed to independent standard setting – will monitor

  11. FAF Financial Accounting Foundation (charged with oversight of FASB and GASB)

  12. FAF – GFOA Position • State and local governments will continue to nominate governmental trustees • Subject to review by FAF • State and local groups retain right over nomination of replacements for nominees rejected by FAF • Governmental trustees retain veto over recommendation from nominating committee • May be circumvented by full FAF

  13. SEC Securities and Exchange Commission

  14. Cox Proposals • Central repository • Federally mandated GAAP reporting • Federal funding for GASB • Federal oversight of the GASB • Federal involvement with selection of Governmental trustees on FAF

  15. SEC - GFOA Position • Support for central repository • SEC NEW proposed rule for establishing the Electronic Municipal Market Access system (EMMA) • One location for submitting all disclosure documents (primary and continuing disclosure) • Web-based. Issuers would make continuing disclosure submissions electronically at no cost. • Ability for investors to retrieve information free of charge. • Municipal Securities Rulemaking Board would create/maintain system. • If SEC approves, could be operational in early 2009.

  16. GFOA GASB FAF SEC

  17. FOOTBALL

  18. MAKE YOUR PASSION YOUR PROFESSION

  19. Washington State Treasurer • Honorable Michael J. Murphy

  20. Chuck Pfeil – Director of State & Local Audits

  21. Resolution 2008-01 A Resolution of the Washington Finance Officers Association thanking the County of Yakima for hosting the Washington Finance Officers Association 53rd Annual Conference

  22. Resolution 2008-02 A Resolution of the Washington Finance Officers Association Conferring a lifetime honorary membership to Dan Clements

  23. Resolution 2008-03 A Resolution of the Washington Finance Officers Association Conferring a lifetime honorary membership to Michael J. Murphy

  24. Resolution 2008-04 A Resolution of the Washington Finance Officers Association Conferring a lifetime honorary membership to Gayla Gjertsen

  25. Resolution 2008-05 A Resolution of the Washington Finance Officers Association Conferring a lifetime honorary membership to Steve Marcotte

  26. 2008 AWARDS • 233 Professional Finance Officer renewals • 25 new Professional Finance Officer’s • Distinguished Budget Awards: City of DuPont City of Edgewood City of Marysville City of North Bend City of Snoqualmie King County Housing Authority Peninsula Metropolitan Park District

  27. LEGISLATIVE COMMITTEE • 2008 Session 1747 bills were introduced 2076 bills re-introduced from 2007 40 joint memorials, joint resolutions, and concurrent resolutions introduced • Laws of 2008 1 initiative and 328 bills became law • The Legislative Committee identified 99 laws of possible interest to local governments • For more information, visit the WFOA web-site

  28. EDUCATION COMMITTEE Non-Conference Comparisons 2006 2007 2008 -- 2008 thru AugGOAL Number of Classes 38 32 40 40 Average Attendance 28.6 34.6 29.1 26.3 Total Attendance 1,088 1,107 1,163 1,050

  29. EDUCATION COMMITTEE Conference Comparisons 2006 2007 2008 Pre-Conference Classes Full Day 1 2 2 Half Day 5 3 5 Attendance 160 187 192 Est. Conference Classes General Session 1 3 3 Class Sessions 75 67 75 Attendance 567 565 545 Est. CPE Credits Available 24.6 26.5 24.5

  30. SCHOLARSHIP AWARDS So far in 2008, 24 Scholarships have been awarded for a total of . . . $8,954

  31. Membership As of September 12, 2008 the association’s membership stands at 1,378, with 149 new members joining in 2008.

  32. Treasurer’sReport

  33. NOMINATIONS FOR THEWFOA BOARD OF DIRECTORS 2008-2009 Executive Board PRESIDENT ELECT – Dan Underwood (City of Richland) VICE PRESIDENT – Ron Cone (City of Moses Lake) TREASURER – Yvonne Ziomkowski (City of Port Angeles) SECRETARY – Marilou Moore (City of Everett) At - Large Board Positions Bonnie Fell (City of Kent) – 3 year term Anna Stroben (City of Pasco) – 3 year term Mark Neary (Thurston County) – 3 year term Barbara Basnett (City of Vancouver) – 3 year term

  34. See you in Bellevue in 2009

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