The Island Government Finance Officers’ Association 2008 Spring Conference Report is now available.  The IGFOA met in Ft. Lauderdale, Florida, in June, 2008.

In 1999 the Department of Interior’s (DOI) Office of Insular Affairs (OIA) and insular area financial management officials formed the Island Government Finance Officers Association (IGFOA).  The purpose of IGFOA was to promote improved financial management in the insular governments.  Since 1999 IGFOA members have met at least annually to participate in professional development and networking activities and to establish an agenda for financial management improvement.

The theme for this conference, “Building a Sustainable Finance Office”, focused on building and maintaining high performing finance offices.  The goals of the IGFOA Conference were to:

  • Present and discuss a model for sustainable high performing finance offices,
  • Share the governments’ self-assessments using this model,
  • Identify best practices used to maintain a sustainable high performing finance office, and
  • Develop action plans to address each government’s highest priority issues in improving their performance.

The conference opened with representatives from each government reporting on the status of their Financial Management Information Systems (FMIS), single audits, and the results of their self-assessments using the Finance Office Assessment Instrument.  All governments stated they were satisfied with their current FMIS and had no plans to change.  Several governments indicated the need to upgrade their current applications to more recent versions of the software, but none had the funds available to do so.  The governments continue to improve the timeliness and results of their single audits.  Six of the governments reported they would complete their single audits on time and several said they expected unqualified opinions.  Prior to the conference, each government assessed itself using the Finance Office Assessment Instrument.  Although each office had its unique set of strengths and challenges, two general trends emerged.  First, none of the governments assessed itself a ‘3’ or higher on the five-point scale. Second, the greatest challenge facing all of the offices was the ability to recruit, retain, and develop its human resources.

Click here to download theIGFOA 2008 Conference Report