p r es i d e nt ’ s m es s ag e in this issue President’s Message 2 Executive Director’s Message 3 I Survived the First Virtual Boot Camp 4 Committee for Canadian Issues 5 MFA’s Corner 6 Economic Outlook Q3 8 Practical & Tactical Asset Management 12 Going Out to Market For Your Group Benefits Plan 15 What Do You Mean? How to be Sure Your Readers Understand You 17 What Your Local Government Should Know and Do in a Hard Insurance Market 18 Does Automation Complete the Finance Solution Puzzle? 20 Collectors’ Corner 22 Quarterly Question 23 Thank You Exhibitors 25 Thank You Sponsors 26
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nother newsletter already! Looking back on the last few months…. I would have rather hit fast forward. I suspect some good will come of this pandemic, perhaps more emphasis on innovation, alternative service delivery models, working from home and work life balance. I suspect many of you are also suffering online meeting fatigue. While it is great to see faces, logistically it is difficult to have efficient meetings. Recent meetings have reminded me of the level of support that municipalities receive from different organizations and how well they work together. Admittedly, I visited their websites to explore the resources I was unaware of and I encourage you to do the same. The session, hosted by LGLA and MIABC, included panelists from BCAA, CivicInfo, LGMA, MFA, MIABC, UBCM and GFOABC. I have also been reminded of how much talent and dedication the GFOABC Board members bring to the table. Many volunteers, companies and organizations add value to our communities through supporting financial excellence. I am appreciative that in local government we not only look to serve the citizens of our communities, but also work together to strengthen the systems and organizations that support each other to better serve.
We have seen property tax collection and liquidity concerns diminish, but are still monitoring 2020 operating impacts and implications to financial reserves. Focus is turning to the 2021-2025 budget, with continued uncertainty, pressure on tax increases, increase in service costs and questions about capital spending. Workplaces and society in general are becoming increasingly concerned while focusing on mental health. With pandemic related funding ending or being reduced the strains and stresses on businesses, families and support systems will become apparent. Interesting times. Comforting to know that you are all there for your communities and each other. Trevor Thompson, BBA, CPA, CGA Director of Finance
Board of Directors President Trevor Thompson Vice President Lorraine Coughlin Secretary-Treasurer Nyla Attiana Past President Genelle Davidson Staff Kala Harris, Executive Director Kisha Pellerin, Manager, Operations and Member Services Gerilee McBride, Graphic Design
