C S M F O FULL CONFERENCE AGENDA Disneyland illustrations & paintings photographed by David Blue Garrison at the DisneylandÂŽ Hotel in Anaheim.
PRESIDENT’S MESSAGE Welcome to the 2020 CSMFO Annual Conference – Yesterday, Tomorrow and Finance. For those of you who’ve attended CSMFO’s Annual Conferences in the past, you’re familiar with the fabulous opportunities available for continuing professional education, networking, and social engagement at our conferences. This Anaheim conference will be no exception. While the conference officially opens on Wednesday with motivational lunchtime keynote speaker Dr. Jeffrey Barnes, educator and author of The Wisdom of Walt and Beyond the Wisdom of Walt, this year we are offering a full complement of early bird educational sessions starting on Wednesday morning. This will be in addition to a full line-up of educational breakout sessions available between Wednesday afternoon and Friday morning. As for some of our extracurricular conference activities, the traditional Tuesday tennis tournament will take place at the top-notch Anaheim Tennis Center and golfers will tee off at the prestigious Pelican Hill Golf Club in Newport Beach for our annual golf tourney. New this year to tennis, we’ll be mixing in pickleball for an added twist of exciting, friendly competition. Additionally, for yoga enthusiasts, we’ll be offering early morning yoga. All experience levels are welcome at these activities. Of course, a CSMFO Annual Conference taking place in the shadows of the happiest place on earth would not be complete without a little Disney fun. We’re planning a fantastic Wednesday late evening private party in Cars Land at Disney California Adventure. Additional highly engaging keynote presentations will be delivered during the conference by futurist Rebecca Ryan and non-profit founder Steve Gross, as well as our special general session speakers, expert economist Christopher Thornberg and California State Treasurer Fiona Ma. Thank you for your support and I look forward to seeing you January 28-31, 2020 for the CSMFO Annual Conference in Anaheim.
Steve Heide
2020 President and Conference Chair Finance Director, Chino Valley Fire District
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GENERAL INFORMATION ABOUT YOUR BADGE
Your name badge will be necessary to gain access to all official events. Be sure to wear it at all times. Full Conference registrants are entitled to attend all business sessions, all conference-sponsored meal functions, and all conference social events. Daily registrants are entitled to attend the general sessions, concurrent sessions, breakfast and lunch on the day they are registered to attend, where applicable. If a daily registrant is attending on Wednesday, they are also able to attend the vendor reception. Your name badge is enabled for RFID tracking. This is used not only for CPE-tracking purposes, but also to give us information about the number of attendees at any given session to assist with planning for future conferences. It is important that you wear your badge at all times, and that you enter sessions using a door that is covered with a RFID truss.
CPE CREDIT
The California Society of Municipal Finance Officers is a provider for the California State Board of Accountancy continuing professional education (CPE) programs for Certified Public Accountants and for GFOA’s Certified Public Finance Officers. This year, we are using RFID technology to automatically scan your badge, so no need to scan in/out of sessions! Following the conference, attendees will receive an email containing a link to their CPE certificate. Please note this make take some time to finalize, so we ask for your patience. Please be sure to “white list” or approve emails received from office@staff.csmfo.org in order to ensure delivery of your CPE certificate.
GREEN INITIATIVE
CSMFO is doing our part to protect our planet. We will not be providing a printed program to each attendee this year. Therefore, we are providing this PDF version that you may print prior to leaving your office. A schedule-at-a-glance will be offered onsite.
CONFERENCE APP
CSMFO is mobile! We strongly encourage you to download our mobile guide to enhance your experience at the 2020 CSMFO Annual Conference. You’ll be able to plan your day with a personalized schedule; browse exhibitors, maps, and general conference information; message other attendees; and even share photos! The app is compatible with iPhones, iPads, iPod Touches, and Android devices. To get the guide, choose one of the methods, below: Download “Guidebook” from the Apple App Store or the Android Marketplace Visit https://guidebook.com/g/csmfo2020/ from your phone’s browser.
CONFERENCE PRESENTATIONS
Any presentations received in advance of the conference will be available for download through the Guidebook app at the conference. Presentations will also be posted to the CSMFO website after the conference.
SESSION ROOM LOCATIONS
Amazon, Safari, Nile, Congo = Adventure Tower Grand Ballroom, Magic Kingdom Ballroom, Monorail, Castle, Exhibit Hall, Sleeping Beauty Pavilion = Fantasy Tower
CALPERS ACTUARY MEETINGS
(by appointment only) Wednesday, January 28 - 8:30 am - 11:30 am and 1:30 pm - 3:30 pm Thursday, January 29 - 8:30 am - 11:30 am and 1:30 pm - 3:30 pm Location: Amazon (Adventure Tower)
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TUESDAY, JANUARY 28, 2020 Pre-Conference Sessions – 9:15 am – 4:00 pm Conference Registration Open – 1:00 pm – 5:00 pm PRE-CONFERENCE SESSIONS - Tuesday, January 28, 2020 9:15 am – 4:00 pm
OH NO, ANOTHER GRANT! NOW WHAT?
Accounting/Financial Reporting (A – Accounting and Auditing, G – Government) Location: Adventure (Adventure Tower) Given the growing complexity of grant reporting and compliance, it is no wonder that many people have this reaction. “Free” money is wonderful – but we all know nothing is ever truly free. This session will cover the processes and best practices for grants/loans in the pre-award phase, as well as post-award administration and finance-related post-award support. Below are the topics that will be covered during the session: • • • • • • • • • • • • • • •
External Funding Strategy Pursuit of Funding Opportunities Research Tools Understanding the Type and Source of Funding Application Process/Coordination Building Agency Relationships Post-Award during Pre-Award Funding Agreement and Compliance Terms Post-Award Compliance and Administration – Key Success Factors What are Eligible and Allowable Costs? Disadvantaged Business Enterprise (DBE); American, Iron & Steel (AIS); and Labor Compliance Requirements Reimbursement Requests and Reporting Grant Management, Finance, and Best Practices Single Audit and Audit Best Practices Records Retention
The list itself looks overwhelming, but seasoned pros with a remarkable track record for obtaining and administering grants for a local special district will lead you through the puzzle that can be the grants world. When you leave this session, you will have the tools and confidence you need to help your organization obtain and successfully administer a well-coordinated grants management program! Speakers: Wilma Garriz, Controller, Eastern Municipal Water District Rania Odenbaugh, Executive Office Principal, County of Riverside Bonnie Wright, Grants and Loans Manager, Eastern Municipal Water District Ashley Zellmer, Water Resources Control Engineer, California State Water Resources Control Board
BUILDING A BETTER BUDGET: BEST PRACTICES AND INSIGHTFUL PERSPECTIVES FOR THE BUDGET PRACTITIONER
Budget and Financial Planning (T – Technical subject areas) Location: Safari (Adventure Tower) CSMFO’s new core course covering budget fundamentals provides both new budget analysts and seasoned senior managers with a comprehensive review of the budget process and related issues. In this pre-conference session, the first two of four modules of this new core course will be offered, covering “Foundations of Budget Management” in the morning and “Building the Budget” in the afternoon. Key concepts to be covered include types of budgets, the relationship between the accounting and budget functions, the importance of accurate forecasting and long-term financial planning, best practices for the budget process, personnel budgeting, and key concepts in non-personnel budget management. Attendees will leave this session with useful best practices, practical exercises and examples, and valuable perspectives from budget practitioners. Modules three and four – “Budget Documents and Reporting” and “Advanced Budget Concepts” – will be offered in alternating locations in northern and southern California in the upcoming year and then regularly in the future. Speakers: Ken Brown, Principal, HdL Companies David Cain, Retired Finance Director, City of Fountain Valley
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MONEY TALKS: THE ART OF SPEAKING ABOUT GOVERNMENT FINANCE!
Leadership and Management (N – Non-technical subject areas) Location: Nile (Adventure Tower) The world of government finance is getting more complicated every day. Government finance officers are required to communicate with boards and citizens on a regular basis. This course will help refine those much-needed public speaking skills to help government professionals overcome their fears while exceling at communications. This course will add on to the skills provided in the 2019 pre-conference session titled, “The Art of Public Speaking for Finance Officers: Can You Hear Me Now?” True public speakers build on their skills to achieve an enhanced ability for speaking in front of audiences of many sizes. Whether you attended last year’s pre-conference session (NOT a pre-requisite for this session), or this year will be your first dive into the public speaking waters, attendees will gain real world experience on how to be effective communicators. Speaker: Phil Bertolini, Co-Director for the Center of Digital Government, e.Republic PRE-CONFERENCE SESSION - Tuesday, January 28, 2020 1:00 pm – 4:00 pm
DOING THE RIGHT THING WHEN IT IS HARD: LIVING YOUR ETHICS IN TOUGH SITUATIONS
Leadership and Management (E – Ethics) Location: Mark Twain (Frontier Tower) Knowing the right thing to do is not that hard. Doing the right thing in the face of pressure to do the wrong thing – or at least look the other way – can be very hard. In fact, ethical tragedies are often the result of people who sit silently on the sidelines, afraid or uncertain of what to do about a transgression. In this session, you will work through real-life scenarios of ethical challenges that have occurred in governments. You will learn a distinctive new approach to deal with these situations, called “Giving Voice to Values,” which is focused on how to enact the values we already know. Think of it as a “self-defense class for your soul.” Speaker: Mary C. Gentile, PhD, Creator/Director, Giving Voice to Values, and Professor of Practice, University of Virginia-Darden School of Business
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WEDNESDAY, JANUARY 29, 2020
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WEDNESDAY, JANUARY 29, 2020 CALPERS ACTUARY MEETINGS (by appointment only) Wednesday, January 28 - 8:30 am - 11:30 am and 1:30 pm - 3:30 pm Location: Amazon (Adventure Tower) WEDNESDAY, JANUARY 29, 2020 Registration Open – 7:30 am – 5:00 pm Breakfast for Scholarship Recipients and First-Time Attendees – 7:30 am – 8:30 am Early Bird Concurrent Sessions – 8:30 am – 9:45 am Exhibit Hall Opens and Coffee Break in Grand Ballroom – 9:45 am – 10:15 am Early Bird Concurrent Sessions – 10:15 am – 11:30 am Lunch, Opening General Session & Keynote Speaker – 11:45 am – 1:45 pm Concurrent Sessions – 2:00 pm – 3:15 pm General Session – 3:30 pm – 4:45 pm Vendor Reception – 4:45 pm – 6:30 pm BREAKFAST (by prior invitation only) Scholarship Recipients and First-Time Attendees 7:30 am – 8:30 am Location: Mark Twain (Frontier Tower) EARLY BIRD SESSIONS - Wednesday, January 29, 2020 8:30 am – 9:45 am
INVENTORYING AND ACCOUNTING FOR CAPITAL ASSETS: A CASE STUDY
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Magic Kingdom Ballroom 1 (Fantasy Tower) The San Francisco International Airport (SFO) received a recommendation from its auditors to conduct a physical inventory of its capital assets, and was also notified by the City and County of San Francisco that a new financial system would be implemented for all departments. In response, SFO embarked on a comprehensive program to do the following: • • •
Clean up its capital assets database in preparation for migration to the new financial system, including consolidation of parent/child assets, writing off assets with historical cost less than the capitalization threshold, and writing off fully depreciated easements and capital interest. Improve its policies, procedures, and practices related to constructing, capitalizing, valuing, depreciating, inventorying, and accounting for capital assets. Conduct a physical inventory of all capital assets for 43 divisions, representing $6.4 billion at historical cost.
Using SFO’s experience, this session will present a roadmap on how to conduct a physical inventory of capital assets and improve procedures to assure those assets are accounted for accurately. The presenter will share forms, reports, and policies developed during the project that can be tailored by other governments, including observation count sheets, reports to management, asset lists, and written policies and procedures. Practical advice and pitfalls to be avoided will be discussed. Speaker: Kevin Harper, Partner, Kevin W. Harper CPA & Associates Moderator: Christopher Woidzik, Controller, San Diego County Water Authority
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CREATING A RIGHT BRAIN CULTURE IN A LEFT BRAIN ENVIRONMENT
Leadership and Management (N – Non-technical subject areas) Location: Magic Kingdom Ballroom 4 (Fantasy Tower) Finance departments/divisions are often perceived as being too rigid, rule bound, and closed off to anything outside the box. While it is important to maintain strong fiduciary oversight of your agency’s fiscal operations, it is also increasingly important to create a work culture that embraces collaboration, new ideas, and continuous learning. Moving beyond the technical skills and focusing on the interpersonal skills will elevate your leadership to a new level, and will help create a culture of acknowledgment, respect, and trust with both your employees and your customers. How do you do that? You create a right brain culture. This dynamic session will provide 7 key strategies to foster a right brain culture and embrace emotional intelligence within your finance department/division. We will detail the specific actions and initiatives that the City of Redwood City has implemented; discuss the art of saying “no”; and demonstrate how to enhance communication and engagement for the benefit of your operations. Speakers: Kimbra McCarthy, Assistant City Manager of Administrative Services, City of Redwood City Derek Rampone, Financial Services Manager, City of Redwood City Moderator: Grace Castaneda, Budget Manager, City of San Mateo
GONE IN 24 HOURS – PARADISE LOST AND THE CAMP FIRE’S LASTING EFFECTS
Financial Management (T – Technical subject areas) Location: Magic Kingdom Ballroom 2 (Fantasy Tower) On November 8, 2018, the Camp Fire, the deadliest, most devastating wildfire in California history, hit Butte County, destroying over 14,000 homes, including most of the Town of Paradise, and killing 85 people. Many of the 26,000 Paradise residents relocated to Chico and other nearby cities overnight. This tragedy forever changed the lives of all Butte County residents. As such, it has dramatically affected the economy and finances of the Town of Paradise, Butte County, the City of Chico, and other nearby towns. This session will provide a firsthand account of the Camp Fire and its effects from a local government financial and information technology perspective. Questions discussed will include the following: • What happens when your tax basis is eliminated overnight? • What happens when your City’s population grows by 20,000 overnight? • Will your information systems backups operate upon an emergency relocation? • How to work with CalOES and FEMA? • Are you prepared for a large-scale disaster? Speakers: Scott Dowell, Administrative Services Director, City of Chico Meegan Jessee, Deputy Administrative Officer, County of Butte Josh Marquis, Information Systems Manager, City of Chico Moderator: Laura Nomura, Deputy General Manager, Eastern Municipal Water District
THE COLEMAN REPORT (WILL BE REPEATED)
Financial Management (T – Technical subject areas) Location: Magic Kingdom Ballroom 3 (Fantasy Tower) In his annual update on local municipal financial conditions and issues, Michael Coleman will discuss the latest hot legislative and budget issues in the Capitol, important legal developments, current trends and issues in key local revenues, including sales tax, property tax, and highway users tax, and the latest on municipal financial health and bankruptcy. Speaker: Michael Coleman, Fiscal Policy Advisor, CSMFO and League of California Cities Moderator: Joseph Lillio, Director of Finance, City of El Segundo
WHO IS WATCHING THE HEN HOUSE? THE 457 NEST EGG DILEMMA
Financial Management (T – Technical subject areas) Location: Monorail (Fantasy Tower) Many cities have a better understanding of their 457 plan fees and fiduciary duties than ever before in the past. Implementing best practices are important, but without understanding the roles and responsibilities of all the players, such as consultants, third-party record-keepers, and investment oversight committees, the fight to protect and deliver this benefit is caught in the crosshairs of new hidden fees in plain sight. Understanding the role of all the 457 plan relationships is key to establishing best practices and providing proper oversight, not just for the plan, but also for those watching the “hen house” itself. Speakers: David Bilby, Director of Finance/Treasurer, City of Chula Vista Jeff Chang, Partner, Best Best & Krieger LLP Maribel Larios, Chief Executive Officer, Fiduciary Experts LLC Moderator: Pamela Arends-King, Chief Financial Officer, South Coast Water District
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PURPOSEFUL POSITIONING FOR POSITIVE DEBT ISSUANCE RESULTS
Treasury and Debt Management (T – Technical subject areas) Location: Castle (Fantasy Tower) Public agencies contemplating the issuance of debt to finance either new infrastructure improvements or to refinance existing debt must ensure that they are securing the lowest costs and best possible terms. Successful debt issuance is a result of many factors, not the least of which is pre-planning and strategizing to get your agency in top fiscal shape. Have you reviewed and updated your financial policies, such as debt management, reserve, and investment policies, and do they follow best practices and meet current regulatory requirements? Are your audits not only up to date, but are they thorough and do they provide the information a rating agency, lender, or other potential investor is looking for, including supplementary information such as debt coverage ratios, appropriate demographic data, or other information that may be required under continuing disclosure undertakings? Do you have adequate revenues to fund the debt service; if not, what do you need to do to increase revenues or decrease costs? Learn how you can positively position yourself from leaders in the field of public debt issuance. Speakers: Jeffrey Meyer, Retired Director of Administrative Services, Calaveras County Water District Todd Smith, Managing Director, Hilltop Securities Cameron Weist, Partner, The Weist Law Firm Moderator: Troy Grunklee, Director of Administrative Services, City of La Puente
SB 998 – THE DO’S, THE DON’TS, AND THE “IT DEPENDS”!
Financial Management (T – Technical subject areas) Location: Adventure (Adventure Tower) Are you prepared to comply with SB 998 on February 1, 2020? SB 998 puts restrictions on shutting off water customers within certain time periods and other criteria. Water agencies face severe fines for not complying, so come get educated on what you need to do to protect your agency! Even if you are prepared, come listen to the best practices of other agencies regarding compliance with SB 998 and strategies to minimize the impact on your organization. This session is designed to be interactive, with participant and attendee questions, insights, and compliance tips. Speakers: Kristy Mincey, Customer Service Billing Manager, Eastern Municipal Water District Cindy Byerrum, President, Platinum Consulting Group James Ciampa, Managing Partner, Lagerlof, Senecal, Gosney & Kruse LLP Moderator: Alberto Preciado, Accounting Manager, Citrus Heights Water District
ACTUARIAL INFORMATION/VALUATIONS 101
Budget and Financial Planning (T – Technical subject areas) Location: Safari (Adventure Tower) With the recent attention on pension reform and Governmental Accounting Standards Board (GASB) reporting requirements for pensions, finance practitioners need to become well versed in how to read actuarial reports, including basic terms, methodology, and information essential to determining your pension plan contribution and funded status. This session will explain what you need to know in clear terms, and will help you translate this complex information for decision makers, employees, bargaining units, and the public. Speaker: Julian Robinson, Senior Pension Actuary, California Public Employees’ Retirement System Moderator: Jesse Takahashi, Finance and Administrative Services Director, City of Mountain View
INTERVIEW QUICK TAKES – NAILING YOUR CHANCE TO SHINE (PRE-REGISTRATION REQUIRED)
Leadership and Management (N – Non-technical subject areas) Location: Congo (Adventure Tower) Do you want to hone your interview skills in a low-risk environment? Have you ever wondered what interview panelists were thinking during an interview? Do you want constructive and useful feedback regarding what you do well and what you could improve? Your effectiveness in interviewing can make or break your success in getting a senior finance position. Attendees who registered in advance will have an opportunity to participate in a simulated interview panel setting and get immediate feedback from top recruiter firms and seasoned finance professionals who have served on numerous interview panels. Each segment will consist of 15 minutes of handling interview questions and opportunities to note how you would like to strengthen your presentation and 5 minutes for feedback, including helpful suggestions from the panelists. Want to multiply the benefits for yourself? Bring your smartphone and record your session to review how you come across. Up to three other CSMFO members may attend each session as observers. Speakers: Richard Lee, Finance Director, City of San Mateo Sarah Ragsdale, Administrative Services Director, Mountain House Community Services District Valerie Gaeta-Phillips, President, Bob Murray & Associates Moderator: Don Maruska, Master Coach
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BREAK – EXHIBIT HALL OPENS 9:45 am – 10:15 am Location: Grand Ballroom EARLY BIRD SESSIONS - Wednesday, January 29, 2020 10:15 am – 11:30 am
THE LEADER’S TOOLKIT: MAXIMIZING YOUR DAILY LEADERSHIP EFFECTIVENESS
Leadership and Management (N – Non-technical subject areas) Location: Magic Kingdom Ballroom 1 (Fantasy Tower) The successful leader’s day starts with “Good morning” and ends with “Thank you.” In between, there are dozens of interactions, behaviors, and decisions that will determine the success of that leader and their team for that day and in the future. Daily leadership actions we will explore in detail include body language, importance of a positive attitude, displaying authenticity, and playing up your skills and knowledge. Emphasis will be on 15 actions you can take daily, like articulating vision and goals, teaching and engaging others, staying calm and level headed, and being a positive role model. We can all add tools to our leadership toolbox, and you will be able to use these immediately on the job. Speaker: Neil Kupchin, Management & Training Consultant Moderator: Karan Reid, Director of Finance, City of Concord
LEASE ACCOUNTING, PART DEUX
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Magic Kingdom Ballroom 4 (Fantasy Tower) GASB Statement No. 87, Leases, establishes a single model for lease accounting based on the foundational principle that leases are financings of the right to use an underlying asset. This is a significant change from current guidance and will most likely have a material impact on your financial statements. At the 2019 CSMFO Conference in Palm Springs, we presented the “Top 10” implementation issues arising from GASB Statement No. 87. While the implementation issues were an important part of getting started, the next step is practical guidance. Let’s discuss the outcomes of implementing lease standards, walk through numerous types of leases likely to be encountered, and review how leases will end up in the financial statements and note disclosures. Most governmental agencies within California will be implementing these standards in fiscal year 2020/21, so time is of the essence! Speakers: Craig Boyer, Assistant Controller, County of Alameda David Bullock, Partner, Macias, Gini & O’Connell LLP Moderator: Kate Zawadzki, Finance Director, City of Dixon
NAVIGATING THE UNCERTAIN WATERS: CALPERS’ NEW PENSION OUTLOOK FOR PUBLIC AGENCIES
Budget and Financial Planning (T – Technical subject areas) Location: Magic Kingdom Ballroom 2 (Fantasy Tower) The California Public Employees’ Retirement System (CalPERS) has developed a new tool for employers to help plan for future pension costs. Called “Pension Outlook,” this free program, available through the CalPERS portal, allows employers to adjust key variables in the pension cost equation and see what it would mean for their agency’s pension obligations over time. Attendees at this session will see a demonstration of the tool and learn how to adjust hypothetical investment returns, factor in possible future discount rate changes, and incorporate hypothetical additional discretionary payments to see the impact to your plans’ funded status, contribution rates, and total dollar costs. This is an exciting new tool for you and your agency to use to extrapolate the budgetary impacts that could arise given various market events and employer contribution scenarios. Speaker: Kerry Worgan, Supervising Pension Actuary, California Public Employees’ Retirement System Moderator: Dennis Kauffman, Chief Financial Officer, City of Roseville
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WHY EVERY LOCAL GOVERNMENT NEEDS A LONG-TERM FINANCIAL PLAN
Budget and Financial Planning (T – Technical subject areas) Location: Magic Kingdom Ballroom 3 (Fantasy Tower) With increasing talk of an “imminent recession” and rising financial pressures confronting all levels of public service, the value of preparing a long-term financial plan continues to spread across the California local government landscape. However, there are many different types of financial plans. Some plans have worked well. Others did not quite live up to their expectations. Three seasoned local government professionals will explain what a long-term financial plan is, how such plans have worked to turn around some distressed local governments, and how they may be used to navigate future financial stress. Speakers: Tom Haynes, Assistant Chief Financial Officer, County of Yolo Scott Mitnick, City Manager, City of El Segundo Matt Paulin, Chief Financial Officer, City of Stockton Moderator: Nitish Sharma, Chief Administrative Officer, Cosumnes Community Service District
STAR WARS, SPLASH MOUNTAIN, CARS – ALL ARE GOOD OPTIONS!
Treasury and Debt Management (T – Technical subject areas) Location: Monorail (Fantasy Tower) The Water Infrastructure Finance and Innovation Act (WIFIA), grants, the Clean Water State Revolving Fund (SRF), debt, and/ or internally generated cash – this session will discuss how a practitioner/issuer maximizes project funding to get the project built. Learn from the panel about the right mix to maintain flexibility and preserve future debt capacity. You will also hear from the financing community about available state and federal programs and how these sources may be the right option for you. Speakers: Jorianne Jernberg, WIFIA Program Director, U.S. Environmental Protection Agency Brian Mandell, Debt Manager, City of San Diego Christopher Stevens, Supervising Engineer, California State Water Resources Control Board Shannon Groff, Director, Fitch Ratings Moderator: Brian Mandell, Debt Manager, City of San Diego
LOCAL GOVERNMENT INVESTMENT CONSIDERATIONS UNDER THE CALIFORNIA GOVERNMENT CODE
Treasury and Debt Management (T – Technical subject areas) Location: Castle (Fantasy Tower) This session reviews the types of investments and investment practices that are permitted and prohibited for California public agencies. We will also discuss a history of key changes to the California Government Code over the years and provide a comprehensive list of investment guidance and policy resources. At the conclusion of this session, you should be able to (1) determine which investments are permitted or prohibited for California public agencies, (2) list four ways the Code has changed within the past 4 years, and (3) identify and apply investment policy best practices. Speakers: Christina Valencia, Executive Manager of Finance and Administration/Assistant General Manager, Inland Empire Utilities Agency Sarah Meacham, Managing Director, PFM Asset Management LLC, and Program Administrator, California Asset Management Program (CAMP) Moderator: Stephen Parker, CSMFO Board Member
OPTIMIZING WATER REVENUES WITH ADVANCED METERING INFRASTRUCTURE
Financial Management (T – Technical subject areas) Location: Adventure (Adventure Tower) Water agencies face reduced revenues and higher enforcement costs when implementing conservation polices to preserve limited water resources. Many water agency boards have required local water agencies to submit conservation plans in exchange for financial assistance, which often compels them to modify their business plans. Many water agencies are looking for new ideas to boost revenues and optimize performance. Some of these strategies consist of the following: • Replace aging pipes and install new water meters • Install new advanced meter reader/advanced meter infrastructure (AMR/AMI) technology to improve customer billing and revenue collection • Finance total project costs and reduce outstanding loan balances with future grant dollars You will hear from the financing partner, the technology provider, and an agency that has implemented a fixed network AMI. Speakers: Craig Jones, Management Analyst II, City of Ventura Kevin Barnes, Senior AMI Solution Specialist, Ferguson Lance Holman, President/Chief Executive Officer, Holman Capital Moderator: Vanessa Portillo, Finance Director at City of Livingston Page 11
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SPEED COACHING
Leadership and Management (N – Non-technical subject areas) Location: Safari (Adventure Tower) This session gives you a lively and engaging way to tap multiple perspectives and instantly broaden your network. CSMFO has a great team of talented volunteer senior professionals who are pleased to help colleagues and rising stars find resources to answer their questions and enjoy their careers. In the course of the session, you will have opportunities to rotate from one coach to another in segments of about 15 minutes each. Learn what you can do to address key issues and grow. Speakers: Don Maruska, Master Coach CSMFO Volunteer Coaches
INTERVIEW QUICK TAKES – NAILING YOUR CHANCE TO SHINE (PRE-REGISTRATION REQUIRED)
Leadership and Management (N – Non-technical subject areas) Location: Congo (Adventure Tower) Do you want to hone your interview skills in a low-risk environment? Have you ever wondered what interview panelists were thinking during an interview? Do you want constructive and useful feedback regarding what you do well and what you could improve? Your effectiveness in interviewing can make or break your success in getting a senior finance position. Attendees who registered in advance will have an opportunity to participate in a simulated interview panel setting and get immediate feedback from top recruiter firms and seasoned finance professionals who have served on numerous interview panels. Each segment will consist of 15 minutes of handling interview questions and opportunities to note how you would like to strengthen your presentation and 5 minutes for feedback, including helpful suggestions from the panelists. Want to multiply the benefits for yourself? Bring your smartphone and record your session to review how you come across. Up to three other CSMFO members may attend each session as observers. Speakers: Jennifer Callaway, Finance Director, City of Morro Bay Dustin Claussen, Director of Finance, City of Hayward Valerie Gaeta-Phillips, President, Bob Murray & Associates LUNCH, OPENING GENERAL SESSION & KEYNOTE SPEAKER - Wednesday, January 29, 2020 11:45 am – 1:45 pm
JEFFREY BARNES
Leadership and Management (N – Non-Technical subject areas: Location: South Exhibit Hall (Fantasy Tower) Jeff Barnes is the best-selling author of The Wisdom of Walt: Leadership Lessons from the Happiest Place on Earth and Beyond the Wisdom of Walt: Life Lessons from the Most Magical Place on Earth. Known as Dr. Disneyland®®, he teaches the only accredited college course on the History of Disneyland®®. He is an international Disney motivational speaker, higher education administrator, university professor, and leadership/success coach. He has more than thirty-five years of professional speaking experience and nearly twenty years’ experience leading teams in higher education and teaching more than twenty different college courses. He attributes his passion for Disney parks to his love of history, story, and success. He believes the parks teach us some of life’s greatest lessons – as long as you know their history, know what to look for, and you are willing to connect it all to your own story. Jeff lives in Riverside, California with his family. When he is not speaking, teaching or writing, Jeff enjoys spending as much time as possible in “The Happiest Place on Earth.” COMPLIMENTARY HEADSHOT STATION Wednesday, January 29 – 1:45 pm – 5:45 pm Thursday, January 30 – 8:00 am – 12:00 pm
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CONCURRENT SESSIONS - Wednesday, January 29, 2020 2:00 pm – 3:15 pm
7 SOLUTIONS TO ADDRESSING PENSION LIABILITIES
Financial Management (T – Technical subject areas) Location: Magic Kingdom Ballroom 1 (Fantasy Tower) This session will provide a brief background on CalPERS amortization bases and how to apply targeting strategies (i.e., select specific amortization bases to achieve your financial objectives). The focus of this session will be to discuss 7 practical solutions for addressing your pension and other postemployment benefit (OPEB) liabilities and the practical considerations of their implementation. These solutions include the following: 1. Full cost recovery – allocation to all funds 2. Invest reserves/one-time monies (internal loans) 3. Cost sharing and contract/MOU Provisions 4. Adjust benefit levels and eligibility for OPEB 5. Tax-exempt exchange 6. Synthetic fresh start 7. Pension Obligation Bonds (POB) The participants will discuss the benefits and risks for each option, but more importantly will focus on the process they took in evaluating their options and the steps needed to implement their recommended pathway. Because each agency has a different liability/financial position and policy context, we will provide two perspectives from cities that have begun to address their unfunded retirement cost. The dialogue will discuss the practical steps needed to get their councils to a decision. Speakers: Samantha Argabrite, Deputy City Manager, City of Simi Valley Adam Raymond, City Manager, City of Glendora Julio Morales, Director, Urban Futures, Inc. Moderator: Craig Boyer, Assistant Controller, County of Alameda
HIRING CALPERS RETIREES THE RIGHT WAY
Financial Management (T – Technical subject areas) Location: Magic Kingdom Ballroom 4 (Fantasy Tower) CalPERS contracting agencies are using retirees more and more to provide needed services. The restrictions on hiring retirees have become stricter and enforcement of those rules has increased. The result is that public agencies and the retirees they hire are increasingly getting hit with penalties for violating the rules. Hiring retirees the right way is not easy, but it is possible – and we will show you how! Topics to be covered include the following: • What retirees can be hired to do • Limits on hours, salary, benefits, and duration of appointment • Penalties for violating the rules • “Extra help” assignments and the limits on filling a vacant position • The difference between independent contractors and employees Speakers: Renee Ostrander, Chief, Employer Account Management Division, California Public Employees’ Retirement System Steven Berliner, Partner, Liebert Cassidy Whitmore Moderator: Monica Lo, Director of Administrative Services, City of Whittier
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ONE DAY YOU WAKE UP AND HAVE MATERIAL WEAKNESSES IN INTERNAL CONTROL
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Magic Kingdom Ballroom 2 (Fantasy Tower) Is it possible to one day wake up and realize you have numerous deficiencies in internal controls and other related challenges? If the answer to that question is yes, then the larger question is how to respond and manage a significant undertaking to correct years of unidentified control deficiencies, gain enough support to institute change, and focus the organization on moving forward by offering solutions to governance bodies and stakeholders. Our panel of speakers will guide you through how, at multiple governmental entities, management, internal audit, and external audit collaboratively worked together to offer solutions, build transparency into the transition process, and provide accountability in order to build a stronger and more resilient organization through its internal controls, policies, and procedures. They will share with you their experience with best practices and how to use the principles found in the Committee of Sponsoring Organizations (COSO) authored internal control framework, which was developed to provide thought leadership through the framework and guidance on internal control, enterprise risk management, and fraud. Speakers: Elena Adair, Finance Director, City of Alameda Tom Hennig, Director of Administration, Rancho Murieta Community Services District Vanessa Burke, Partner, The Pun Group LLP, Accountants and Advisors Mark Steranka, Partner, Moss Adams Moderator: Elena Adair, Finance Director, City of Alameda
ARE YOU READY FOR THE NEW FIDUCIARY ACTIVITIES RULES?
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Magic Kingdom Ballroom 3 (Fantasy Tower) GASB Statement No. 84, Fiduciary Activities, was effective July 1, 2019 for most California local governments and requires a review of fiduciary funds and other potential fiduciary activities. This session will review the new criteria for identifying fiduciary activities and the four fiduciary fund types that should be reported. Agency funds have retired. Custodial funds are the new generation of fiduciary activities. This session will provide an overview of the accounting and financial reporting requirements for fiduciary activities, as well as some California-specific examples. Speakers: Michele Mark Levine, Director of Technical Services, Government Finance Officers Association Amy Meyer, Shareholder, Maze & Associates Moderator: Jennifer Wakeman, Assistant Administrative Services Director, City of Lafayette
HOT TOPICS FROM THE RATING AGENCY DESKS
Treasury and Debt Management (T – Technical subject areas) Location: Monorail (Fantasy Tower) In this session, you will get an update about the hot topics rating agencies are discussing with local governments. Whether you are considering issuing new debt or are about to undergo your annual rating agency surveillance call, you will want to know what to expect from the rating agencies. The hot topics include cybersecurity, wildfire risks, LIBOR transition, infrastructure financing, economic development, preparing for the next recession/slowdown in the economy, as well as ESG (Environment, Social, and Governance). Speakers: Alexandra Cimmiyotti, Vice President/Senior Credit Officer, Moody’s Investors Service Jenny Poreé, Senior Director/Analytical Manager, Standard & Poor’s Moderator: Karla Romero, Finance Director/Treasurer, City of La Quinta
HEALTH CARE CHALLENGES AND OUTLOOK
Financial Management (T – Technical subject areas) Location: Castle (Fantasy Tower) Hear from two leading policy experts in the health care space: Doug McKeever from Covered California, and Donald Moulds from the California Public Employees’ Retirement System (CalPERS). Learn about health care trends at the federal, state, and local levels, including factors influencing costs, access, and quality of care. Special attention will be paid to efforts to understand and address the cost drivers that continue to result in rising health care costs for individuals and employers, such as pharmaceutical costs, hospitalization, and regional differences across our vast state. Speakers: Doug McKeever, Chief Deputy Executive Director, Program, Covered California Donald Moulds, Chief Health Director, California Public Employees’ Retirement System Moderator: Christine Paras, Assistant Administrative Services Director, City of Palo Alto
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FLYING IN CLOUDS: HOW TO GAIN VISIBILITY OF OUTSOURCED INFORMATION SERVICES
Innovation and IT (T – Technical subject areas) Location: Adventure (Adventure Tower) Organizations, including governments, are moving their data, accounting, and management information systems to the cloud by contracting with infrastructure, platform, and software-as-a-service providers. While shifting operations responsibilities to service organizations and vendors, the ultimate bottom line, “the buck stops here” responsibility, remains with the government. Learn what steps you should take to increase your cyber resilience and control your external audit costs. Best practices and tools exist to gain insight and practice oversight of your contractors and vendors, including their suppliers that are providing services to your City indirectly. This session will cover the cybersecurity triad, related reporting risks at a high level, and what your financial statement auditors should be evaluating. Then dive deeper into questions you and your external auditors should be asking your outsourced service management concerning cybersecurity frameworks, information security management, and how to proactively use service organization control (SOC) reports to help you evaluate how well your service provider is maintaining the confidentiality, integrity, and availability of your organization’s data and information. Finally, this session will cover the documentation needed to manage your outsourced services and support your annual financial statement audits. Speakers: Brian Kelleher, Chief Financial Officer, Contra Costa Transportation Authority Jasmine Costa, IT Audit Manager, Macias, Gini & O’Connell LLP Michele McDonald, IT/Cyber Security Manager, Macias, Gini & O’Connell LLP Moderator: Ken Al-Imam, Chief Financial Officer/City Treasurer, City of San Juan Capistrano
RATE-SETTING WITH A DIVINING ROD – GROUNDWATER FEES WITH THE SUSTAINABLE GROUNDWATER MANAGEMENT ACT (SGMA)
Financial Management (T – Technical subject areas) Location: Safari (Adventure Tower) In the midst of a major drought, California Governor Jerry Brown signed what was perhaps the most significant water legislative initiative in California in half a century: the Sustainable Groundwater Management Act (SGMA). The legislation provides a framework for long-term sustainable groundwater management by requiring local and regional authorities within common groundwater basins to form Groundwater Sustainability Agencies (GSAs), which are then required to prepare and implement local Groundwater Sustainability Plans (GSPs). While the SGMA has catapulted California forward in its quest to sustainably manage its most precious resource, the law was passed in a state that struggles with complicated rate-setting requirements, emboldened utility rate watchdog organizations, a massive agricultural community with high operating costs, and many questions regarding the future costs of actually implementing the SGMA. While the SGMA clearly gives GSAs the authority to collect revenue from groundwater extractors, the law does not specify which existing California fee authorit(ies) is/are applicable in regulating groundwater extraction charges. GSAs across the state have already adopted a wide diversity of SGMA-related fees and they have cited a wide variety of legal justifications for those groundwater extraction fees. This panel will examine various examples of those fees and explore some case studies in more detail. This presentation will help simplify the myriad of potential legal interpretations that face GSAs and their member agencies. The panel will review what the SGMA says about GSAs’ fee authority, how that authority relates to other fee authorities, and the best legal vehicles for adopting a sustainable revenue source for GSAs. This presentation will be of interest to all GSAs as well as any water utilities, cities, and/or counties that are tied to a GSA, which implicates a vast majority of the municipal governments across California. Speakers: Tyrell Staheli, Chief Financial Officer, Indian Wells Valley Water District Jena Shoaf Acos, Associate, Brownstein Hyatt Farber Schreck Mark Hildebrand, Owner, Hildebrand Consulting LLC Moderator: Allison Tong, Accountant II, West Basin Municipal Utility District
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INTERVIEW QUICK TAKES – NAILING YOUR CHANCE TO SHINE (PRE-REGISTRATION REQUIRED)
Leadership and Management (N – Non-technical subject areas) Location: Congo (Adventure Tower) Do you want to hone your interview skills in a low-risk environment? Have you ever wondered what interview panelists were thinking during an interview? Do you want constructive and useful feedback regarding what you do well and what you could improve? Your effectiveness in interviewing can make or break your success in getting a senior finance position. Attendees who registered in advance will have an opportunity to participate in a simulated interview panel setting and get immediate feedback from top recruiter firms and seasoned finance professionals who have served on numerous interview panels. Each segment will consist of 15 minutes of handling interview questions and opportunities to note how you would like to strengthen your presentation and 5 minutes for feedback, including helpful suggestions from the panelists. Want to multiply the benefits for yourself? Bring your smartphone and record your session to review how you come across. Up to three other CSMFO members may attend each session as observers. Speakers: Keith DeMartini, Finance Director, City of San Bruno Karan Reid, Director of Finance, City of Concord Teri Black, President, Teri Black and Company Moderator: Don Maruska, Master Coach GENERAL SESSION - Wednesday, January 29, 2020 3:30 pm – 4:45 pm
IT’S THE HOUSING SUPPLY, STUPID!
Budget and Financial Planning (T – Technical subject areas) Location: South Exhibit Hall (Fantasy Tower) The ongoing handwringing about an impending recession and the recent volatility of financial markets stand in stark contrast to an economy that just keeps trucking along at 2.5% growth despite trade wars, a real estate slowdown, and the inverted yield curve. But all is not as well in the Golden State, where job and output growth have slowed to national averages after years of being far and away above those levels. The reason for the slowing is basic economics – a labor scarcity that leaves too many job openings in the state unfilled. That scarcity is, in turn, being largely driven by a lack of housing supply and, unfortunately, Governor Newsom has not secured even basic reforms to help expand supply. As such, next year will be even tougher for California businesses as they struggle to find the workers they need to take advantage of the otherwise robust U.S. economy. Speaker: Christopher Thornberg, Founding Partner, Beacon Economics Moderator: Viki Copeland, Finance Director, City of Hermosa Beach VENDOR RECEPTION Wednesday, January 29, 2020 4:45 pm – 6:30 pm Location: Grand Ballroom (Fantasy Tower) LATE NIGHT EVENT – DISNEY CALIFORNIA ADVENTURE – CARS LAND PRIVATE CSMFO PARTY Wednesday, January 29, 2020 10:30 pm – 1:00 am After you have enjoyed dinner with friends and colleagues, head on over to Disney California Adventure® Park as its gates open for our exclusive, personalized event. The night comes alive as you make your way into Cars Land for an evening of fun, networking and a wonderful dessert reception. Put the pedal to the metal on Radiator Springs Racers, take a whirl on Mater’s Junkyard Jamboree, and experience the joy of the dance on Luigi’s Rolickin’ Roadsters. Get your picture taken with some of the Cars Land cast members, or maybe dance to a few tunes! Top it all off with some delectable desserts and beverages! CSMFO brings you another magical night under the stars!
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THURSDAY, JANUARY 30, 2020
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THURSDAY, JANUARY 30, 2020 CALPERS ACTUARY MEETINGS (by appointment only) Thursday, January 29 - 8:30 am - 11:30 am and 1:30 pm - 3:30 pm Location: Amazon (Adventure Tower) Registration Open – 7:30 am – 5:00 pm Buffet Breakfast in Grand Ballroom – 7:30 am – 8:30 am Exhibit Hall Open – 7:30 am – 3:45 pm Concurrent Sessions – 8:30 am – 9:45 am Specialty Coffee Break in Grand Ballroom – 9:45 am – 10:15 am Concurrent Sessions – 10:15 am – 11:30 am Lunch & Keynote Speaker – 11:45 am – 1:30 pm Concurrent Sessions – 1:45 pm – 3:00 pm Dessert Reception in Grand Ballroom – 3:00 pm – 3:45 pm General Session – 4:00 pm – 5:15 pm Chapter Chair Reception in Sleeping Beauty Pavilion – 5:30 pm – 6:00 pm CONCURRENT SESSIONS - Thursday, January 30, 2020 8:30 am – 9:45 am
PROTECTING YOUR ENTITY FROM FRAUD
Financial Management (F – Fraud) Location: Magic Kingdom Ballroom 1 (Fantasy Tower) While advances in technology have brought greater transparency and efficiency to how public entities operate, they have also exposed them to a pervasive barrage of sophisticated attacks to deceive and defraud them of public funds. This session will feature practitioners’ efforts to recognize and manage these attacks, and a security professional who will share the genesis, evolution, and anticipated future trends of these fraudulent attacks. Speakers: Douglas Alessio, Administrative Services Director, City of Livermore Richard Lee, Finance Director, City of San Mateo Kellyn Wagner Ramsdell, Intelligence Analyst, Northern California Regional Intelligence Center Moderator: Ernie Reyna, Director of Finance, City of Perris
THE COLEMAN REPORT (REPEAT)
Financial Management (T – Technical subject areas) Location: Magic Kingdom Ballroom 4 (Fantasy Tower) In his annual update on local municipal financial conditions and issues, Michael Coleman will discuss the latest hot legislative and budget issues in the Capitol, important legal developments, current trends and issues in key local revenues, including sales tax, property tax, and highway users tax, and the latest on municipal financial health and bankruptcy. Speaker: Michael Coleman, Fiscal Policy Advisor, CSMFO and League of California Cities Moderator: Kristina Alfaro, Director of Administrative Services, City of Cupertino
GASB UPDATE – THE IMPLEMENTATION GUIDES ARE HERE
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Magic Kingdom Ballroom 2 (Fantasy Tower) The wait is over with the issuance of new implementation guides on fiduciary activities and leases. Those guides are being supplemented with a proposed implementation update that connects the dots on some important issues, such as how to assess a potential fiduciary component unit that has no board and how to determine whether a government controls a right to use asset in contract that could be a lease. This session will address those issues and more as California governments face implementation issues associated with new GASB standards. Speaker: David R. Bean, Director of Research and Technical Activities, Governmental Accounting Standards Board Moderator: Kofi Antobam, Director of Administrative Services, City of Rancho Mirage
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CALIFORNIA BURNING: FIGHT WILD FIRE...BUT HOW TO PAY FOR IT?
Budget and Financial Planning (T – Technical subject areas) Location: Magic Kingdom Ballroom 3 (Fantasy Tower) One of California’s most pressing and potentially devastating challenges is the management of uncontrolled wild land fires, especially considering the now-recognized potential to spread to urban areas and even suburban subdivisions. Expert thoughtleaders are developing key strategies, including the essential three-pronged approach to wild land fire management: fire suppression, vegetation management, and structure resiliency. Several different funding approaches for these essential services will be presented, including Proposition 218-compliant special taxes, property-related fees, and benefit assessments. The City of Santa Barbara’s unique and very successful funding approach will be presented as a case study. Speakers: Christopher Braden, Fire Services Specialist, City of Santa Barbara John Bliss, President, SCI Consulting Group Moderator: Donna Ventura, Assistant Chief Financial Officer, City of Oxnard
YESTERDAY-CANNABIS, TOMORROW-HEMP, AND FINANCE-FISCAL TRENDS
Budget and Financial Planning (T – Technical subject areas) Location: Monorail (Fantasy Tower) Since the passage of Proposition 64, cities in California have dealt with the fiscal impacts and benefits of allowing cannabis businesses to operate in their communities. This presentation will discuss how one agency has adopted community economic benefits and how the City’s Chief of Police marketed it. In addition, the panel will discuss the lessons learned from the collection of taxes, audits, the challenges of tax apportionment, the impacts of delivery services on retail store revenues, mergers and acquisitions, and the red flags of projecting revenues from cannabis operations in the budget process. Finally, the panel will examine how the “impacts of hemp” will reshape the economic development of cannabis businesses in California. Speakers: Joanna Altman, Assistant to the City Manager, City of Vallejo Andrew Salinas, Chief of Police, City of Port Hueneme David McPherson, Cannabis Compliance Director, HdL Companies Moderator: Joan Michaels Aguilar, 2019 CSMFO President
INCLUSION, DIVERSITY AND EQUITY: BUILDING A CULTURE OF EXCELLENCE IN THE WORKPLACE
Leadership and Management (N – Non-technical subject areas) Location: Castle (Fantasy Tower) This session will focus on how to enhance your workforce by embracing diversity of thought, age, gender, and cultural background, while establishing equity and promoting an inclusive environment. Dan McAllister, San Diego County TreasurerTax Collector, and Lisa Marie Harris, Director of Finance/Treasurer at San Diego County Water Authority, both advocate for these practices within their agencies and on behalf of their workforce. As managers, they value and seek to promote inclusive practices of engagement with staff from different backgrounds, be advocates for their staff ’s professional growth and development, and develop mentoring opportunities. This pursuit of inclusiveness at their agencies supports better management and decision-making, and enhances the public’s overall experience with their respective agencies. Together, Dan, Lisa Marie, and Hei-ock Kim will focus on their experience implementing inclusion in the public sector by sharing best practices and experience, as well as providing guidance to other professionals charged with growing their staff for future generations. Speakers: Lisa Marie Harris, Director of Finance/Treasurer, San Diego County Water Authority Dan McAllister, Treasurer-Tax Collector, County of San Diego Hei-ock Kim, Executive Director, Kim Center for Social Balance Moderator: Marcus Pimentel, Assistant Director of Health, County of Santa Cruz
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DO MORE WITH LESS: THE POWER OF AUTOMATION
Innovation & IT (T – Technical subject areas) Location: Adventure (Adventure Tower) As budgets tighten, agency management is compelled to wring efficiency (and cash) out of programs, while improving services to constituents. In early 2019, the Mendocino County Board of Supervisors made increased efficiency a formal goal. Session panelists will discuss the return-on-investment (ROI) related to application improvement and business process projects. They will examine practical business approaches that agencies can implement to save staff time and money, and they will discuss the basics of calculating ROI, as well as technology best practices that increase efficiency of use. This session is designed to spark the interest of agency management, financial officers, and technologists in implementing process improvements using technology. It will give you recommendations for projects, and a methodology to measure the effectiveness of your projects. Speakers: Janelle Rau, Deputy Chief Executive Officer, County of Mendocino Tom Jakobsen, Senior Partner, ClientFirst Technology Consulting Moderator: Grace Zheng, Assistant Director of Finance, City of Sunnyvale
7 HABITS OF HIGHLY EFFECTIVE INVESTMENT PROGRAMS
Treasury and Debt Management (T – Technical subject areas) Location: Safari (Adventure Tower) Public fund investment programs are one of the only places where revenue can be generated without charging taxes or fees to taxpayers or rate payers. Having key fundamentals in place helps ensure the three primary investment program objectives of safety, liquidity, and income are met. This session will discuss seven aspects of a successful investment program, which are the following: 1. A detailed asset/liability matching (cash flow) model 2. A responsible amount of interest rate risk and credit risk 3. Do not try to time the market 4. You love losses and hate gains 5. The program follows generally accepted accounting principles (GAAP) 6. Benchmark your investment program and portfolio in multiple ways 7. Provide quality, timely, and transparent reporting Speakers: Tom Juarez, Chief Investment Officer, City of Los Angeles Rick Phillips, President/Chief Investment Officer, FTN Financial Main Street Advisors Moderator: Kyle Johnson, Assistant Director – Finance, City of Glendora SPECIALTY COFFEE BREAK 9:45 am – 10:15 am Location: Grand Ballroom (Fantasy Tower) CONCURRENT SESSIONS - Thursday, January 30, 2020 10:15 am – 11:30 am
LEADING SUCCESSFUL TEAM AND ORGANIZATIONAL CULTURE CHANGE
Leadership and Management (N – Non-technical subject areas) Location: Magic Kingdom Ballroom 1 (Fantasy Tower) “This is a great place to work!” We would all like our team members to articulate this sentiment, and there is a way every leader can create or change their current culture to achieve this goal. Organizational culture is made up of a combination of goals, values, expectations, and ethics that help influence behaviors. In this action-packed session, we will present specific actions to take to create or change your organizational culture from “go along to get along” to fully engaged. This transformation begins with successful finance department on-boarding and continues with recognition-driven leadership, recognizing what matters most, and practicing performance-based urgency, all of which will be explored so you can make your team and organization “a great place to work” quickly and effectively. Speaker: Neil Kupchin, Management & Training Consultant Moderator: Margaret O’Brien, Revenue & Tax Administrator, City of Oakland
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TRANSFORMING LOCAL GOVERNMENT FINANCES THROUGH INNOVATIVE USE OF SPECIAL TAXES
Financial Management (T – Technical subject areas) Location: Magic Kingdom Ballroom 4 (Fantasy Tower) The panel will discuss the various ways the use of special taxes is transforming local government finance to help enhance local jurisdictions’ revenue, promote innovative development projects, and fund core infrastructure and services. Community facility districts (CFDs) have long been used to fund infrastructure for “greenfield” developments in suburban areas. Over the last decade, this tool has expanded in scope to fund services and has been increasingly applied to urban settings. The modernization of the CFD tool still promotes development, but now also helps mitigate development’s strain on a local jurisdiction’s budget and infrastructure. The panel will primarily cover two topics relating to special taxes: • City-wide Services Special Tax: The first part of the panel will highlight one city’s innovative approach to implementing a services special tax on all future development within the city’s boundaries. • Urban Community Facilities Districts: The next portion will focus on creative applications of CFDs for infrastructure. Attend this session to find out if these tools might provide some increased financial flexibility for your jurisdiction. Speakers: Luke Brewer, Debt Specialist, City and County of San Francisco Matt Paulin, Chief Financial Officer, City of Stockton Kenneth Dieker, Principal, Del Rio Advisors LLC Eric McKean, Director, Stifel Moderator: Matt Paulin, Chief Financial Officer, City of Stockton
GASB UPDATE – PROJECTS UNDER CONSTRUCTION
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Magic Kingdom Ballroom 2 (Fantasy Tower) The GASB Big Three continue to grab the accounting and financial reporting headlines, but there is more to the GASB’s technical agenda. In addition to providing participants with the latest on the financial reporting model, revenue and expense recognition, and the disclosure framework, this session will provide insights on forthcoming standards that address public private partnerships, availability payment arrangements, subscription-based information technology arrangements (cloud computing), and many other topics on the current and research agendas. Speaker: David R. Bean, Director of Research and Technical Activities, Governmental Accounting Standards Board Moderator: Viki Copeland, Finance Director, City of Hermosa Beach
THE SALINAS PLAN: CREATIVELY ADDRESSING BUDGET DEFICITS, THE COST OF SERVICES, AND AFFORDABLE HOUSING
Budget and Financial Planning (T – Technical subject areas) Location: Magic Kingdom Ballroom 3 (Fantasy Tower) As costs for CalPERS retirement are projected to almost double over the next seven years, cities throughout California face increasingly unsustainable structural deficits. Cities are forced to grapple with difficult questions about maintaining vital services while also finding resources to tackle newer challenges, such as housing affordability, in an environment where employee and construction costs are rapidly rising and outside aid is static or declining. Recognizing this challenge, at the end of 2018, the City of Salinas completed a plan to address forthcoming budget deficits (through new revenue, internal efficiencies, and cost reductions) and to establish new and expanded initiatives that address the growing housing crisis. The Salinas Plan includes over 30 recommendations covering seven action areas, designed to be implemented over a multi-year period. Over the last year, the City has been actively working to implement the recommended actions. This session provides an overview of the Salinas Plan, an update on how the (sometimes controversial) implementation of recommendations has progressed, and how the plan has evolved. Presenters will also discuss the pros and cons of a large, public-facing study in changing the conversation within the community, as well as the City’s ability to provide services and still take a leadership role in addressing difficult housing issues. This session will also demonstrate how a city’s financial plan should focus on more than just financial sustainability; ultimately, the quantity, quality, and cost of services provided are the measures by which the community judges its officials, and service level preservation (or prioritization) needs to be a vital component to any financial plan. Speakers: Andrew Myrick, Economic Development Manager, City of Salinas Matt Pressey, Finance Director, City of Salinas Russ Branson, Founder, Russ Branson Consulting David Eichenthal, Managing Director, PFM Group Consulting LLC Moderator: Matt Pressey, Finance Director, City of Salinas
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CHANGE IS COMING: NEEDS ASSESSMENTS AND SOFTWARE PLANNING
Innovation & IT (T – Technical subject areas) Location: Monorail (Fantasy Tower) Do you find it increasingly difficult to meet the needs of management and governing board members with your current software? Is your IT staff warning that your financial software has reached end-of-life status? Is your vendor requiring that you conduct a major upgrade that sounds more like an implementation than a simple update? These are just some of the factors that can cause an organization to evaluate whether an upgrade of current software or implementation of new software is needed. If selecting new software may be on the horizon for you, join us to discuss strategies that will equip you to determine whether an upgrade of your current system or implementation of a new system is the best option for your organization. The session will then explore best practices in project management and change management that will lay a strong foundation for evaluating your current environment and planning for an implementation or major upgrade. Speakers: Jason Al-Imam, Finance Director, City of Fountain Valley David Faraone, Budget Analyst, City of Fountain Valley Michele Dotson, Manager, BerryDunn Moderator: Jennifer Leisz, Finance Manager, City of Tustin
NAVIGATING THE RAGING RIVERS OF DEBT MANAGEMENT
Treasury and Debt Management (T – Technical subject areas) Location: Castle (Fantasy Tower) In recent years, the California legislature, the Securities and Exchange Commission (SEC), and the Internal Revenue Service (IRS) have taken actions to encourage issuers of debt to adopt policies and procedures concerning the debt issuance process and post-issuance compliance for both federal tax and securities law purposes. This session will cover development and implementation of policies and procedures to comply with California law. The speakers will provide insight regarding best practices, priorities, and pitfalls in adopting or amending policies and procedures as they relate to both small and large issuers of debt. Issues addressed will include California Government Code section 8855(i), the recent amendments to SEC Rule 15c212, assigning responsibilities, and establishing training. Speakers: Gina Tharani, Director of Financial Services/City Treasurer, City of Aliso Viejo Nora O’Brien, Partner, Best Best & Krieger LLP Anna Sarabian, Principal, Fieldman, Rolapp & Associates Moderator: Margaret Moggia, Executive Manager of Finance, West Basin Municipal Water District
TAKING A POLICY-BASED APPROACH TO SETTING USER FEES
Financial Management (T – Technical subject areas) Location: Adventure (Adventure Tower) It is essential to have a strong analytical foundation when setting user fees for General Fund services like planning applications, building permits, and recreation programs; and that they meet State requirements under AB 1600 and Propositions 218 and 26. But this is not enough for effective fee setting. That is best accomplished by taking a policy-based approach to determining appropriate cost recovery. Stated simply, services are either funded by general purpose taxes or by some form of user fees. And setting user fees – determining cost recovery levels – is one of the few remaining areas for local elected official judgment. In setting fees, if there are areas where services fees are not assessed where they legitimately could be, then general purpose revenues are making-up the difference. The direct consequence of this is lower levels of service (and in tough times, deeper cuts) in essential programs that have no significant user fee potential, such as police, fire, streets, libraries, and parks. Full cost recovery is not warranted in all circumstances: there can be legitimate policy reasons for subsidizing some services. But those circumstances of partial or no cost recovery should be clearly articulated through adopted Council policy, along with those circumstances where the goal is full cost recovery. This session will present strategies for taking a policy-based approach to rate setting that will result in a more effective and productive process for the governing body, community, and organization. Speaker: Bill Statler, Consultant/Retired Director of Finance & Information Technology, City of San Luis Obispo Moderator: June Overholt, Finance Director, City of Glendora
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LET’S GET DIGITAL: UNDERSTANDING RECENT ADVANCEMENTS IN BANKING TECHNOLOGY
Treasury and Debt Management (T – Technical subject areas) Location: Safari (Adventure Tower) Banking services are a cornerstone of cash management for local governments and there is no “one size fits all.” In recent years, banks have heavily invested in technology to promote digital processes, each with its own set of opportunities and challenges that change depending on your agency. With many new and interesting digital capabilities out there, how can you determine what fits well within your treasury process? This session will demystify new banking technologies by outlining the possible advantages and disadvantages for your agency, and will prepare you with questions to ask if presented with these options. We will also highlight some of the key features of most banking relationships, such as your earnings credit rate (ECR), and what you should expect when evaluating your services. The discussion will include a public agency’s recent experience with rebidding its banking relationship and the impact on its cash management. Speakers: Dan Matusiewicz, Finance Director/Treasurer, City of Newport Beach David Calvert, Director, PFM Asset Management LLC Moderator: Michelle Collett, Senior Accountant, City of Escondido LUNCH AND KEYNOTE SPEAKER - Thursday, January 30, 2020 11:30 am – 1:30 pm
REBECCA RYAN
Leadership and Management (N – Non-Technical subject areas: Location: South Exhibit Hall (Fantasy Tower) Rebecca Ryan grew up in West Bend, Wisconsin. She earned undergraduate degrees with honors in Economics and International Relations from Drake University. After five jobs in four years, she founded Next Generation Consulting in 1997. A born trend-watcher, Rebecca realized that the workforce had changed, but cities and the workplace had not. Her mission is to leave the world better for future generations. Rebecca is the author of Live First, Work Second: Getting Inside the Head of the Next Generation (2007) and ReGENERATION: A Manifesto for America’s Next Leaders (2013). In addition to her work at Next Generation Consulting, Rebecca is the Resident Futurist at the Alliance for Innovation and a Senior Fellow at CEOs for Cities. CONCURRENT SESSIONS - Thursday, January 30, 2020 1:45 pm – 3:00 pm
FINANCIAL FOUNDATIONS FOR THRIVING COMMUNITIES
Financial Management (T – Technical subject areas) Location: Magic Kingdom Ballroom 1 (Fantasy Tower) Over the past few years, GFOA has been researching a new formula for how local governments can maintain their financial health and thereby contribute to a thriving community. This new formula is based on a Nobel-prize winning body of work about how communities can make better decisions about shared resources, such as a public budget. It builds on the concepts of long-term financial planning and financial policies. It also raises new concepts that are vital to financial health. At this session, you will be introduced to these financial foundations and find out how you can start to put them into practice. Attendees will walk away having learned the following: • The five foundations of financial health • What to look for in your community to see if these foundations are in place • The leadership strategies needed to strengthen your organization’s financial foundation Speakers: Jaime Boscarino, Finance Director, City of Thousand Oaks Shayne Kavanagh, Senior Manager, Research, Government Finance Officers Association Moderator: John Adams, Chief Financial Officer, State Bar of California
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PUBLIC SPEAKING FOR FINANCE FOLKS
Leadership and Management (N – Non-technical subject areas) Location: Magic Kingdom Ballroom 4 (Fantasy Tower) Impactful and memorable public speaking is both an art and a skill. Without it, your message can be ignored, diluted, or not taken as seriously. In addition, it is an essential part of leadership! Learn what it takes to overcome your fear of public speaking and to be more effective at it. As a financial professional, you need people to listen to you! This presentation breaks down into bite-size and actionable chunks what to do. The session is engaging, with exercises that move you around and interact with others. Here are some major take-aways from the session: • Master how to be more calm and confident before, during, and after a presentation. • Understand what your body is conveying to the audience without you even realizing it. • Do these three things before every presentation to feel more confident. • Learn how to express yourself as a leader that others will want to follow. Learn, master, and have fun! Speaker: Steve Yu, Chief Financial Officer/Assistant Dean, UCLA School of Law Moderator: Mike Sung, Deputy Finance Director, City of Fremont
PUTTING FORESIGHT TO WORK: ARE YOU FUTURE-READY?
Leadership and Management (N – Non-technical subject areas) Location: Magic Kingdom Ballroom 2 (Fantasy Tower) In this roll-up-your-sleeves session, attendees will practice some of the foresight tools they learned in Rebecca Ryan’s general keynote session. Attendees will participate in The Big Sort, a tabletop card game, to discuss and debate the trends most likely to affect our agencies in the future. Speaker: Rebecca Ryan, Futurist Moderator: David Cain, Retired Director of Finance/Treasurer, City of Fountain Valley
READ ALL ABOUT IT: THE BLUE BOOK HAS BEEN UPDATED! (WILL BE REPEATED)
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Magic Kingdom Ballroom 3 (Fantasy Tower) Join the Director of GFOA’s Technical Services Center for an informative session about the updated version of GFOA’s Governmental Accounting, Auditing, and Financial Reporting (GAAFR), fondly known as “The Blue Book.” The new Blue Book is actually the tenth edition in a series of publications that extends all the way back to 1936. In this session, you will learn about the new content from recent GASB pronouncements, other exciting changes, such as the transition to citing the Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards rather than original pronouncements, and the upcoming subscription model. Speaker: Michele Mark Levine, Director of Technical Services, Government Finance Officers Association Moderator: Brigitte Elke, Finance Director, City of San Luis Obispo
NOT JUST ANOTHER ERP PRESENTATION: TWO AGENCIES’ EXPERIENCES
Innovation & IT (T – Technical subject areas) Location: Monorail (Fantasy Tower) In the era of big data, with ever-increasing community and customer expectations, many municipal agencies are still living with antiquated financial and information systems. As these agencies face competing pressures for limited resources, upgrading enterprise platforms is often cost and time prohibitive. For the Santa Margarita Water District (SMWD) and the South Coast Water District (SCWD), their outdated and inefficient systems provided a unique opportunity for each agency to implement a contemporary, cross-departmental platform with a common management objective. SMWD developed a Technology Enterprise Resources Program (TERP) to upgrade and implement a portfolio of systems – accounting system; customer billing system; Computer Maintenance Management System (CMMS); and Geographic Information System (GIS). These upgrades were undertaken as a single, comprehensive process that involved all departments within the agency. In doing so, the District was able to implement a common schema across its different information systems and reduce data silos, and improve collaboration and work efficiencies. The District continues to find opportunities to streamline business processes and is implementing data analytics across the platform. This presentation will discuss both agencies’ approach to undertaking these upgrades, the cross-departmental collaboration and challenges, and benefits gained. Speakers: Pamela Arends-King, Chief Financial Officer, South Coast Water District Robert Grantham, Assistant General Manager, Santa Margarita Water District Christine McIlrevey, Accounting Supervisor, Santa Margarita Water District Dustin Navarro, Information Technology Manager, Santa Margarita Water District Moderator: Robert Grantham, Assistant General Manager, Santa Margarita Water District
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WATER RATES AND TRENDS – WHERE ARE WE GOING?
Financial Management (T – Technical subject areas) Location: Castle (Fantasy Tower) The cost of water services is rising much faster than customers’ incomes and there is no end in sight. In 2003, the average 15 hundred-cubic-feet (hcf) water bill was $30 a month. In 2015, that same bill was over $50. While increases have been averaging 6% per year for water service, some California communities are headed into the dreaded double-digit territory with much needed increases of more than 10% annually. No one likes a rate increase, and California’s penchant for regulation, mandatory hearings, and litigation means that water rates are a contentious issue in many communities. An added complication is that both the water industry and the public sector itself have received a lot of attention over the last several years – water quality crises, failing infrastructure, massive droughts, and affordability concerns here and across the nation have been the focus of ongoing national media coverage. Consumers are engaged and responding on social media and showing up at public meetings to voice concerns. This means utilities’ governing bodies are challenged with increasing rates in a way that balances these concerns with the very real need to invest in infrastructure at a level not seen before. This panel will discuss how rates have changed in the past, how future regulation will affect rates in the future, and how to develop communication strategies that bring customers along as we work to explain these complex issues and gain their acceptance. Speakers: Kevin Mascaro, Director of Finance, Western Municipal Water District Melissa Elliott, Director of Strategic Communication Services, Raftelis Financial Consultants Sanjay Gaur, Vice President, Raftelis Financial Consultants Moderator: Nick Kurns, Finance and Customer Service Manager, Scotts Valley Water District
INVESTMENT PORTFOLIO SOLUTIONS: WORKING WITH AN ADVISOR OR GOING IT ALONE, AND OTHER THEMES IN PUBLIC INVESTMENTS
Treasury and Debt Management (T – Technical subject areas) Location: Adventure (Adventure Tower) This session will examine the pros and cons of in-house investment management with the help of brokers, as well as outsourced solutions from a registered investment advisor. Of special note are discussions around limits to each approach, pitfalls to be avoided, and advantages to both solutions. In either case, both approaches will require understanding how shifting rates, changing Fed policy, and fluid economic conditions will affect portfolio volatility and return. Come and learn how to mitigate risk and capture excess return through changing conditions under either option. Speakers: Venus Rodriguez, Finance Officer, City of Merced Lauren Warrem, Chief Deputy Treasurer, County of San Diego Carlos Oblites, Senior Vice President, Chandler Asset Management Moderator: Jason Al-Imam, Finance Director, City of Fountain Valley
UNDERSTANDING THE LIBOR TRANSITION
Treasury and Debt Management (T – Technical subject areas) Location: Safari (Adventure Tower) The financial industry is preparing for a seismic shift away from the London Interbank Offered Rate (LIBOR), a benchmark rate that underlies the vast majority of floating rate financial transactions, toward a new alternative. On a global basis, roughly $350 trillion worth of financial products are linked to LIBOR, ranging from institutional products such as derivatives, and floating rate notes and loans, to consumer products such as student loans, adjustable rate home mortgages, and some credit cards. During this session, we will discuss why LIBOR is transitioning, what the endorsed alternative rate is (Secured Overnight Finance Rate – SOFR), and how the market is planning for a smooth transition away from LIBOR. Speakers: Peggy Arrivas, Associate Vice President/Systemwide Controller, University of California, Office of the President Emily Brock, Director, Federal Liaison Center, Government Finance Officers Association Readie Callahan, Head of Communications Strategy, LIBOR Transition Office, Wells Fargo & Company Moderator: Charles Turner, Director of Finance, Eastern Municipal Water District DESSERT RECEPTION - 3:00 pm – 3:45 pm Location: Grand Ballroom
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GENERAL SESSION - Thursday, January 30, 2020 4:00 pm – 5:15 pm
YESTERDAY IS A DREAM, BUT TOMORROW IS A VISION
Financial Management (T – Technical subject areas) Location: South Exhibit Hall (Fantasy Tower) Treasurer Fiona Ma will present her views on what the State can do to address some of California’s most challenging issues: affordable housing, creation of good jobs, and protection of our environment. Fiona shares the same pursuit of excellence in the stewardship of the public’s resources and trust as does CSMFO. The infrastructure and services that are the backbone of California’s economy and communities depend on our collective commitment to seek out and employ the best practices in financial management. She will share what her office is doing to meet those goals and be an effective partner with CSMFO and its constituents. Speaker: Fiona Ma, Treasurer, State of California Moderator: Mary Bradley, Executive Special Assistant, City of Fremont
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FRIDAY, JANUARY 31, 2020
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FRIDAY, JANUARY 31, 2020 Yoga Session – 6:30 am – 7:15 am Registration Open – 7:30 am – 12:00 pm Breakfast, Business Meeting & Chapter Networking – 8:00 am – 9:00 am Concurrent Sessions – 9:15 am – 10:30 am Closing General Session & Keynote Speaker – 10:45 am – 12:00 pm YOGA - Friday, January 31, 2020 - 6:30 am – 7:15 am Location: Sleeping Beauty Pavillion (Fantasy Tower) BREAKFAST, BUSINESS MEETING, AND CHAPTER NETWORKING Friday, January 31, 2020 - 8:00 am – 9:00 am Location: South Exhibit Hall (Fantasy Tower) CONCURRENT SESSIONS - Friday, January 31, 2020 9:15 am – 10:30 am
READ ALL ABOUT IT: THE BLUE BOOK HAS BEEN UPDATED! (REPEAT)
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Magic Kingdom Ballroom 1 (Fantasy Tower) Join the Director of GFOA’s Technical Services Center for an informative session about the updated version of GFOA’s Governmental Accounting, Auditing, and Financial Reporting (GAAFR), fondly known as “The Blue Book.” The new Blue Book is actually the tenth edition in a series of publications that extends all the way back to 1936. In this session, you will learn about the new content from recent GASB pronouncements, other exciting changes, such as the transition to citing the Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards rather than original pronouncements, and the upcoming subscription model. Speaker: Michele Mark Levine, Director of Technical Services, Government Finance Officers Association Moderator: Daniel Buffalo, Finance Director, City of Ukiah
LESSONS IN CYBERSECURITY FROM THE HACKER’S PLAYBOOK
Innovation & IT (F – Fraud) Location: Magic Kingdom Ballroom 4 (Fantasy Tower) As digital technologies create huge user benefits, their use also advances the capabilities of cyber criminals. Anyone who uses the internet, email, and social media is exposed to cybersecurity risks, and nearly all data can potentially be exploited. For public agencies, this could include data that is by nature publicly available, such as investment reports or official statements for debt issuances. With more information available today than ever before, along with tools to access it, hackers are increasingly making sophisticated attempts at fraud. Popular cybersecurity attacks among public agencies are payroll fraud, business email compromises (aka email “spoofing”), vendor impersonation fraud, and ransomware, to name a few. This session will discuss what you can do to mitigate these attacks, how to recognize fraudulent attempts when they happen, and real world examples among public agencies. Learn how you can apply these lessons in the form of practical checks and balances that could protect your agency from losses. Speakers: Carl Sandstrom, Business Projects Manager, California Joint Powers Insurance Authority Kerry Benson, Managing Director/Chief Information Officer, PFM Asset Management LLC Moderator: Lorena Quijano, Director of Finance/Technology Services, City of West Hollywood
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ON THE HORIZON: CALPERS’ EFFORTS TO SUSTAIN AND PROTECT THE SYSTEM
Budget and Financial Planning (T – Technical subject areas) Location: Magic Kingdom Ballroom 2&3 (Fantasy Tower) The most expensive line item for most cities is employee costs: salaries, pensions, and health benefits. The last two are squarely in the purview of the California Public Employees’ Retirement System (CalPERS), which administers pensions and health care benefits for 1.9 and 1.5 million members, respectively. In this session, you will hear from Marcie Frost, the Chief Executive Officer of CalPERS, on the current state of play in those fields. She will discuss key cost drivers, projections of employer costs, tools available for finance officials to help plan their budgets, and what the future landscape looks like. She will also zero in on the rules for enrolling employees as members, what differentiates an independent contractor from an employee, guidelines around hiring retired annuitants, and why it is so important to stay in contact with CalPERS to make sure information is reported correctly the first time. Speaker: Marcie Frost, Chief Executive Officer, California Public Employees’ Retirement System Moderator: Jeff Muir, Director of Finance, City of Beverly Hills
LEASE ACCOUNTING OF TOMORROW
Accounting and Financial Reporting (A – Accounting and Auditing, G – Government) Location: Monorail (Fantasy Tower) Say goodbye to the lease accounting of yesterday, and hello to GASB Statement No. 87, Leases: the lease accounting of tomorrow. Erase the terms “capital lease” and “operating lease” from your memory and learn the new way to account for your leases. This session will walk you through the implementation process of the new accounting standard, including identifying the leases that will be subject to the standard, understanding the new accounting terminology, and communicating the upcoming changes to those in governance. Using real lease examples from a California city and a water district, learn how to calculate the lease asset, lease liability, lease receivable, and deferred inflow of resources. This session will also go through the journal entries and new footnote disclosures to prepare you for implementing the standard. Speakers: Aaron Beanan, Director of Finance, City of Poway Kathleen Naylor, Accounting Manager, Rancho California Water District Jennifer Farr, Partner, Davis Farr Moderator: Kelly Telford, Finance Director, City of Costa Mesa
AVOID BEING THE “UN-HAPPIEST” PLACE IN CALIFORNIA
Budget and Financial Planning (T – Technical subject areas) Location: Castle (Fantasy Tower) Some economists are worried that we are headed for a recession. Being unprepared for a recession could make your municipality the un-happiest place on earth. Learn and exchange ideas with other municipalities about how to approach the next recession through cohesive management planning, including long-term budgeting, growing and utilizing fund balances, and community stakeholder support. Panelists will present their unique economic outlooks from various perspectives. Speakers: Tina Olson, Director of Finance, City of Pleasanton Anna Van Degna, Director, Controller’s Office of Public Finance, City and County of San Francisco Karen Ribble, Senior Director, Fitch Ratings Moderator: Jennifer Callaway, Finance Director, City of Morro Bay
FINANCIAL LEADERSHIP (IN DIFFICULT SITUATIONS)
Leadership and Management (N – Non-technical subject areas) Location: Adventure (Adventure Tower) By design, government makes tough decisions every day. Even well seasoned budgeteers can recall when they first learned to say “no.” This session will provide recommendations from experienced finance professionals on how to have difficult conversations; coordinate an effective process that facilitates discussion and collaboration; and involve elected officials in the decision-making process early enough to better balance competing demands in the face of varying pressures. Speakers: Brigitte Elke, Finance Director, City of San Luis Obispo John Gross, Finance Director/Chief Financial Officer, City of Long Beach Carol Molina, Acting Assistant City Financial Officer, City of Huntington Beach Moderator: Derek Rampone, Financial Services Manager, City of Redwood City
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HOW MUCH IS TOO MUCH: UNDERSTANDING “DEBT AFFORDABILITY”
Treasury and Debt Management (T – Technical subject areas) Location: Safari (Adventure Tower) State law now requires public agencies to adopt an official debt policy prior to a bond issue, but most policies avoid the most important policy question: how much debt is too much? Most California debt is issued outside the “limits” of indebtedness imposed by law – as General Fund lease revenue bonds, certificates of participation or enterprise revenue bonds. Thus, issuers must look beyond the law to other measures and other voices as to what is a reasonable amount of leverage. Capital markets participants, such as municipal advisors, rating agencies, and investors, have a perspective on affordability from that of what the market will bear, while finance officers tend to grapple with what is affordable from a budgetary perspective. This panel is comprised of a municipal advisor with a specialty practice in debt affordability modeling, an issuer experienced with debt from a General Fund perspective, and an issuer experienced with debt secured by a revenue enterprise. The panelists will provide some concrete analytic approaches to understanding and establishing prudent limits, explore the import of debt and debt levels on ratings, and examine how all this information can be used by issuers in evaluating capacity from a budgetary perspective, dialoguing with their governing councils and boards, and crafting a policy to guide your agency through difficult decision making. Speakers: Jim Hamilton, Auditor-Controller-Treasurer-Tax Collector, County of San Luis Obispo Jeff Tucker, Director of Administrative Services/Chief Financial Officer, Napa Sanitation District David Leifer, Senior Managing Director, KNN Public Finance Moderator: Elizabeth Cabell, Finance Manager, City of Napa CLOSING GENERAL SESSION - Friday, January 31, 2020 10:45 am – 12:00 pm
STEVE GROSS
Leadership and Management (N – Non-technical subject areas) Location: South Exhibit Hall (Fantasy Tower) Steve Gross is serious about play – and its tremendous benefits for all people and the organizations where they work. The Life is Good Kids Foundation is a non-profit organization that for twenty years has used play to help children overcome life threatening challenges such as violence, illness and severe poverty. A recognized expert and pioneer in utilizing exuberant, joyful play to promote resiliency in children, he has extended those insights to adults, reconnecting them to the passionate, joyful and playful selves that enable them to be their best in and out of the workplace. Through fascinating research, first-hand lessons learned in his crisis response efforts following 9/11, Hurricane Katrina, the Haiti earthquake, and turmoil in the Middle East, and his uniquely humorous and participatory engagement with audiences, Steve demonstrates how to use playfulness to energize individuals, teams and organizations – especially in challenging, changefilled times – allowing them to reach their full potential. Steve’s talents have been called upon to respond to some of the greatest catastrophes of our time, including the devastation caused by Hurricane Katrina, earthquakes in Haiti and Japan, and the 2012 Newtown school shooting. At the heart of his work, Steve helps others discover the power of optimism so that they can build resilience and bring greater joy, connection, courage and creativity to their lives. Steve helps others discover their own sense of optimism so that they can inspire the people around them to focus on the good and overcome life’s most difficult challenges. We are excited to have Steve as our keynote speaker on Friday, January 31, 2020, where you will not only get to hear his story, but you will be a part of CSMFO’s “Give Back to the Community” theme. The speaker fee will not go to Steve but to his 501(c) (3) non-profit organization, whose mission is to help children grow and see the good in themselves. So attend the 2020 CSMFO closing session – it’s for the children!
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CALPERS ACTUARY MEETINGS (by appointment only) Wednesday, January 28 - 8:30 am - 11:30 am and 1:30 pm - 3:30 pm Thursday, January 29 - 8:30 am - 11:30 am and 1:30 pm - 3:30 pm Location: Amazon (Adventure Tower) EXHIBIT HALL OPEN Wednesday, January 28 - 9:45 am - 6:30 pm Thursday, January 29 - 7:30 am - 3:45 pm Location: Grand Ballroom (Fantasy Tower) COMPLIMENTARY HEADSHOT STATION Wednesday, January 29 - 1:45 pm - 5:45 pm Thursday, January 30 - 8:00 am - 12:00 pm CSMFO ONSITE STAFF
Marisa Anticevich
Melissa MANCHESTER
Teri Anticevich
Janet Salvetti
Executive Director
Conference Director
Conference Director
Conference Coordinator
Candy Retamoza
Zach Seals
David Blue Garrison
Amanda Rae Smith
Sponsor Coordinator
Account Coordinator
Creative Director
IT Coordinator
Justin Lewis
Sarah Erck
Harriet Commons
EDDIE MOORE
IT Director
Administrative Director
Program Coordinator
Account Assistant
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Do you know the way to San Jose? KEYNOTES
NETWORKING
EDUCATION
2021 CSMFO ANNUAL CONFERENCE February 17-19, 2021 | San Jose, CA Page 32
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