The Balance Sheet

GFOAA Summer Workshop

Our Summer Workshop held on August 13-14 at the Windemere Conference Center in Orange Beach was another huge success. There was a plethora of great speakers and topics, the accommodations and meals were excellent, and even the weather was cooperative as the rain clouds broke for a couple of days. The Monday night outdoor reception sponsored by American General/VALIC and Sterne, Agee & Leach, Inc. was extraordinary! Thanks go out to Joan Ensley, chairperson and other members of the Summer Workshop Committee for their hard work and dedication in coordinating this highly successful event. Since school terms seem to begin a little earlier each year, GFOAA plans to attempt to schedule future Summer Workshops during the month of July to help accommodate members with children in school who were not able to participate in the Workshop during the past few years.

Special thanks to our sponsors without whom GFOAA would not be able to offer these excellent professional education opportunities. All members of GFOAA are highly encouraged to avail themselves of the services provided by these great sponsoring firms whenever possible.

American General/VALIC

J P Morgan/Chase

Regions Financial Corporation

Segal Company

SouthTrust Bank

Standard & Poor’s

Sterne, Agee & Leach, Inc.

The Bank of New York

Wilson, Price, Barranco, Blankenship &

Billingsly, P.C.

Quarterly Board of Directors Meeting

August 12, 2001

Hampton Inn Meeting Room

Orange Beach, Alabama

The GFOAA Board of Directors meeting was held August 12^th at the Hampton Inn Meeting Room, Orange Beach, Alabama. There were 11 members in attendance.

Business conducted included approval of the Minutes of May 18, 2001.

The financial report for the period of April 1-July 31, 2001 was presented by Steve Boone. Invoices were submitted and approved for payment (contact Steve Boone, Treasurer, for copies of financial reports).

Reports Submitted

Certification Board (Mike Wright – Chair) The Certification Board report was provided to the Board. Wright reported that the Certification Board recognizes a need for increased CGFO participation and noted that a new CGFO brochure has been developed for promotion of the program.

The Texas Exams currently being utilized by the GFOAA are still available but the Accounting and Financial Planning exam is currently being revised to include GASB 34 requirements.

A draft of proposed modifications to the Certification Board Charter was presented to the Executive Board. Board members were requested to provide the Committee with any comments/suggestions prior to the December Board Meeting when the modifications will be submitted for formal Board adoption.

Government Relations (Gene Stabler – Chair) Gene Stabler submitted a listing of legislative bills that may impact state and local governments (Contact Gene for a copy).

Membership (Ronnie Burlison – Chair)

Travis Hulsey reported that GFOAA had received 34 new memberships during the current fiscal year, bringing the membership total to 279.

Public Information (Sherry Gurganus – Chair)

Sherry Gurganus submitted a report indicating that the Summer Issue of the newsletter had been distributed via e-mail (191 copies) and regular mail (69 copies). Distribution via e-mail saved the organization $542 through reductions in printing and postage costs over the prior year’s Summer Issue.

Scholarships and Services (Sarah Williams – Chair)

Sarah reported that two scholarships had been awarded for the upcoming year: Amanda Pierce - $1,000 and Melinda James - $2,000.

Applications are still being received and reviewed for the remaining authorized scholarship awards. Williams also reported that a GFOAA Speakers Bureau was being developed. A questionnaire for member comments and suggestions for speakers will be distributed during the Summer Workshop.

Other Business

Other business discussed included the 2002 Annual Conference, the Summer Workshop, and the 2002 GFOA National Conference.

To receive a copy of the Board of Directors Meeting Minutes or committee reports for

August 12, 2001, please contact:

Tracy Croom, CGFO

Office: 205-349-0112/Fax: 205-349-0197

tcroom@ci.tuscaloosa.al.us

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From the President…..

The Summer Workshop was another great success story for GFOA of Alabama. Attendance was very good and I received numerous compliments from attendees regarding the speakers, topics, meals and facilities. I would like to personally thank Joan Ensley and the Summer Workshop Committee for an outstanding conference. I am continually amazed and inspired to see the dedication and demonstrated pride that our members exhibit on a regular basis which helps to make GFOAA a great organization to belong to.

Our membership drive is going very well and I would like to encourage each of you to refer a friend or coworker for membership in GFOAA. We have a great deal to offer prospective members at a very minimal cost. During this sluggish economy, membership in GFOAA may be the best “bang for the buck” available. Your efforts in this regard are appreciated.

I would also like to encourage members to sit for the CGFO examinations. The CGFO designation is a very desirable yet very attainable goal for you to set for yourself. Examinations may be taken one at a time if you desire and subject matter materials are provided to you once you register.

GFOAA will be cosponsoring the Governmental Accounting and Auditing Forum in Birmingham on December 12 & 13, 2001 at the Marriott Hotel. I hope to see each of you there.

Travis

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GFOA “Annual Governmental GAAP Update”

Satellite Teleconference

GFOA of Alabama is pleased to announce that it will serve as the host site at two locations in Alabama for the national GFOA “Annual Governmental GAAP Update” satellite teleconference. The program features a range of topics of direct and practical interest to accounting and auditing professionals in the public sector:

· Recent amendments to GASB Statement No. 34

(Omnibus statement)

· New GASB statement on note disclosure

· Forthcoming second implementation guide on

GASB Statement No. 34

· New GASB guidance on affiliated organizations

· Update on GASB project on other post-

employment benefits

· Review of key guidance in the newest edition

of Governmental Accounting, Auditing, and

Financial Reporting

The satellite teleconference will be held on Thursday, November 8, 2001 from 12:00 noon to 4:00 p.m., Central Time. Registration fees are $60/Active GFOA Members and $75/Public Sector Nonmember if postmarked by October 22, 2001, and $90/Active GFOA Member and $105/Public Sector Nonmember if postmarked after October 22, 2001. Registration forms are available on the GFOA website at www.gfoa.org or by contacting the following local host sites:

Site AL01 – Birmingham, Alabama. Location: Birmingham Botanical Gardens – 2612 Lane Park Road. Coordinator: Danny Panos (205) 325-5632

Site AL02 – Mobile, Alabama. Location: City Hall North – 350 North St. Joseph Street. Coordinator: Linda Steele (334) 208-7167

Please make plans to attend this informative yet inexpensive training session which qualifies for 4 CPE credits.

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Distinguished Budget Presentation Awards

Congratulations to the following member organizations who were awarded the “Distinguished Budget Presentation Award” by the Government Finance Officers Association of the United States and Canada for their budget documents with fiscal year beginning in 2000. In order to achieve this award, budget documents must meet stringent criteria in all four categories as a Policy Document, as a Financial Plan, as an Operations Guide and as a Communications Device.

City of Auburn

City of Birmingham

Jefferson County

The Distinguished Budget Presentation Award is the highest form of recognition in governmental budgeting. Over 100,000 organizations are eligible to participate in the budget awards program and these organizations are included in a select group of only 800 organizations worldwide that received the award during the past year.

Receipt of GFOA’s Distinguished Budget Presentation Award is one of the twelve best practices that can help raise an issuer’s bond rating, thereby reducing debt service costs. For more information on the Budget Awards Program contact GFOA by e-mail at budgetawards@gfoa.org or by telephone at (312) 977-9700.

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Awards for Innovation

Applications are now being accepted through January 31, 2002 for the “Awards for Innovations in Government Finance” program. This awards program is designed to provide meaningful peer recognition for documented work that provides leadership to the profession and promotes improved public finance. Awards will be presented in each of seven major categories within the divisions of (1) Small Government Award (fewer than 200 full time employees) and (2) Large Government Award (200 or more full time employees).

For application forms and additional information, please visit our website at www.gfoaa.org or contact Sarah Williams at (334) 242-2257.

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Edward and Judith Kamnikar Award of Merit

Nominations for the Edward and Judith Kamnikar Award of Merit will be accepted through January 31, 2002. This new awards program is designed to recognize outstanding service or achievement in government finance by individual GFOAA members–at-large. (non-officer/director). The activity/performance of the nominee to be considered must have occurred during the current calendar year. Criteria for judging is based upon:

· any activity related to governmental finance

· outstanding contributions to GFOA of

Alabama

· use of professional position to promote sound

governmental accounting and finance practices

in an outstanding manner

Nomination materials and additional information can be obtained by visiting our website at www.gfoaa.org or by contacting Sarah Williams at (334) 242-2257.

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Membership Drive Contest

As members of GFOAA, each of you are aware of the tremendous benefits of being a member of this great organization. GFOAA provides inexpensive continuing professional education opportunities, certification programs, leadership skills development, peer group resources and networking opportunities—all for the low cost of a $25 annual membership fee (which is waived for those attending the annual conference).

We know that there are many prospective members who would enjoy the benefits of GFOAA membership if invited. As an incentive to recruit new members, GFOAA will be offering a prize drawing for a color television set at the next annual conference for all members who refer a new member during the current fiscal year. Each new member referral will garner an additional chance to win the grand prize.

Thank you in advance for your participation in the membership drive which will keep our organization thriving as well as provide your referral with a very rewarding experience. Membership applications are available on the web site at www.gfoaa.org. GFOAA brochures are available from Janet Mularz at Office Automation Specialist, phone (334) 409-9136, e-mail: j.mularz@worldnet.att.net.

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CGFO Program

GFOAA offers examination opportunities at the Annual Conference and Summer Workshop each year for the designation of CGFO. The program consists of five examination subject areas and eligible candidates may take one or more examinations on each scheduled examination date. Examination fees are $75 per each examination subject area. For additional information please visit our website at www.gfoaa.org.

Further…….

If you have previously passed one or more examination subject areas for the CGFO exams and are either currently sitting or considering sitting for the national GFOA CPFO designation, you may qualify for a waiver of the comparable national GFOA exam. However, candidates have a deadline of December 31, 2002 to apply for a waiver of examination. For additional information on waiver of examination you may e-mail: Certification@gfoa.org.

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Joy Hill Retires

Joy Hill, Past President of GFOAA, retired as Finance Supervisor for the City of Decatur on September 1 after 23 years of service. Joy has been a very active member of GFOAA throughout her career, holding various leadership positions on the Board and serving as President of GFOAA during the ‘92-93 fiscal year.

Joy plans to work part-time on an occasional basis and “catch up” on her travels. She plans to take an October vacation for the first time in 23 years to watch the leaves change colors.

We’re all envious of Joy but fortunately for us, she has vowed to continue her participation and support of GFOAA during her retirement. Congratulations and best wishes!

More Moves

Congratulations to Roger Rendlemen who was selected from among an outstanding list of applicants for the position of Lee County Administrator. Roger will begin his new duties on October 22^nd and is looking forward to returning to and serving his hometown area. We know that Roger will be a valuable asset for the citizens of Lee County.

Certified Public Finance Officer

Congratulations to Travis Hulsey, who was recently awarded the designation of CPFO by the Government Finance Officers Association.

Eligible candidates were required to pass five stringent examinations designed to verify knowledge in the disciplines of governmental finance. Preparations are underway to recognize those individuals who achieved the CPFO designation at the next GFOA Annual Conference.

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Upcoming Events

GFOA OF ALABAMA

Annual Governmental GAAP Update

Satellite Teleconference

Site AL01 – Birmingham, AL

Birmingham Botanical Gardens

2612 Lane Park Road

Birmingham, AL

Site AL02 – Mobile, AL

City Hall North

350 North St. Joseph Street

Mobile, AL

Board Meetings

GFOAA Quarterly Board Meeting

December 12, 2001

VALIC Conference Room

3535 Grandview Parkway, Suite 200

Birmingham, AL 35243

Governmental Accounting and

Auditing Forum

Governmental Accounting and Auditing Forum

December 12-13, 2001

Location: Marriott Hotel

Birmingham, AL

Annual Conference - 2002

GFOAA 18^th Annual Conference

March 5-7, 2002

Embassy Suites Hotel

Montgomery, AL

NATIONAL GFOA

The 2002 Annual GFOA Conference is slated for June 16-19, 2002 in the great city of Denver, Colorado.

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Please notify Office Automation Specialist to change your address, or other pertinent information, at the following address:

Office Automation Specialist

Mrs. Janet Mularz, Owner

8860 Chantilly Way

Montgomery, AL 36116

Phone: 334-409-9136

Volume I Fall Edition #7