Highlights from 2024 Government Finance Officers Association (GFOA) Conference
It was a distinct pleasure for the BondCom team to attend GFOA’s 118th Annual Conference in Orlando, Florida. Over 7 thousand government officials and their advisors, bankers, and consultants gathered to discuss the latest trends and ideas in the public finance industry. Here are some of our highlights and takeaways from the event:
Inspiring Keynote Speakers
David Brooks (Author, NYT opinion columnist, commentator on PBS NewsHour) gave an enthralling and witty presentation which cited declining global macro-trends in public happiness, generosity, and social trust. He suggested that the development of effective personal skills revolving around communication, listening, and empathy could have wide-spread positive effect on these trends.
Rana Faroohar (Author, Financial Times associate Editor, CNN global economic analyst) reinforced that “economics is about people” and spoke of the growing importance of local government, local finance, and local supply chains in the wake of decades of globally focused policies.
Hot Topics in the Municipal Bond Sector
· Arbitrage Rebate - market conditions have changed such that tax-exempt issuers need to carefully monitor potential gains on their invested bond proceeds.
· BABs Refunding – issuers with outstanding Build America Bonds are looking to understand if they may be able to refund that debt utilizing Extraordinary Redemption Provisions (ERPs).
· Continuing Disclosure – several sessions discussed the importance of accurate and transparent disclosure, particularly with ‘label’ bonds like Green bonds, Climate bonds, and ESG bonds.
· Refunding Transactions and Tender Transactions – despite today’s high interest rates, analysts discussed opportunities for such transactions in today’s market.
Exciting Technology and Ideas from Exhibitors
· HilltopSecurities has begun to offer insurance services to their clients with HilltopSecurities Insurance, a unique offering that expands the suite of in-house offerings that they can provide to their clients.
· Several exhibitors including Tyler, TownCloud and DebtBook showcased their intuitive and comprehensive budget and debt management software, seeking to enable officers to easily understand their city’s finances and make educated decisions.
· Government-focused tech company Granicus is offering short-term rental compliance monitoring, helping governments identify rental properties (i.e. Airbnb, Vrbo) to enable taxation and/or enforcement.
The Delegates
More than anything, it was fantastic to speak with the fine individuals representing governments small and large, across the United States, and we look forward to working with them to achieve their liability management goals.
BondCom has completed over 190 projects for US Municipal Issuers, totaling over $235 billion. Contact us today to talk about how we can support your next bondholder initiative.