Board Meeting Recap May 2022

After a quick bite to eat, the meeting started with a review of consent items including the previous meeting minutes, March 2022 financial reports, and approval of the Executive Committee meeting agendas. Then the meeting shifted to a very busy Discussion / Action items section containing eight items.

The Discussion / Action items started with an update on operations from CSMFO’s new Executive Director, Jean Rosseau, before moving into a robust discussion and update regarding the 2022 Strategic Action Plan Goals. 2022 is shaping up to be a busy year! Highlights of the 2022 Strategic Action Plan Goals include evaluating if CSMFO should play a role in advocacy, increased financial reporting driven by the new CSMFO Finance Committee, enhanced communications, and engagement with early career members. Responsible parties provided updates on the current status of goals.

After a good start to the meeting, everyone broke for lunch. This gave everyone another chance to catch up and check-in before diving back into a busy day.
After lunch, other items reviewed and discussed by the Board included:

•  An addition to the Policies and Procedures Manual to incorporate an attendance policy for CSMFO leadership meetings.
• A contract amendment for Smith Moore & Associates (SMA) to continue to provide association management services.
• A contract renewal for Harriet Commons after a one-year pilot program for a Program / Training Coordinator to support the core services of CSMFO and assist the Program and Career Development committees to meet their extensive workloads.
• A proposal for changes to member benefits and preferred member pricing, which will be discussed further in the June 2022 board meeting.
• A report regarding the 2021 Pilot Cohort Program results, which included a great overview of the program and some wonderful, shared successes.
• Career Development Committee contracts for core course offerings, including two new courses planned for 2022: Accounting for Capital Assets and a pilot Leadership Training Program.

The meeting then moved to Committee Reports:

• Career Development – Discussed upcoming webinar events including California Local Budgeting and Capital Assets: Common Questions and Best Practices.
• Communications – The Conference edition was published digitally; the print edition will be mailed out shortly.
• Membership – Check out CSMFO’s Trivia Lunch Hour on Tuesday, April 26th for some virtual engagement.
• Professional Standards – Noted that California Committee on Municipal Accounting (CCMA) is releasing an industry alert related to GASB 87, and the CSMFO Professional Standards Committee will be releasing a related committee highlight. The Chair also noted that California SB1489 (Local Government Omnibus Act of 2022) has an upcoming hearing and would require measuring the remaining maturity from the settlement date, instead of the investment trade date.
• Program – Noted that the first meeting for the 2023 Annual Conference would occur shortly after the Board meeting. The committee is waiting for the 2022 conference survey results.
• Recognition – The committee is reviewing the 2022 committee goals from the 2022 Annual Report.
• Student Engagement – The committee discussed strategies for continued engagement and new outreach to schools and students.
• Finance – The new committee is reviewing processes and procedures.

The meeting concluded with reports from the CSMFO President, Past-President, and President-elect before adjourning. The next CSMFO Board of Directors meeting is June 14, 2022.

If you want to look at any of the items and reports in more detail, check out the CMSFO Board Agendas here.