The NFMA Disclosure Committee is pleased to release the final version of the Recommended Best Practices in Disclosure for State Government General Obligation and Appropriation Debt. This was a multi-year project, headed by Anne Ross and Nicole Byrd.  To download the paper, please click here, or go to Publications/Disclosure Guidelines.  The press release can be accessed by clicking here.

The NFMA Introduction to Municipal Bond Credit Analysis registration is now open.The course will be held at Le Meridien in Philadelphia on November 12 & 13, 2015. The NFMA has offered this course annually since 1987. This year's course has been revamped, but attendees can still expect to be provided with an overview of the critical information to perform credit analysis on a variety of sectors. While traditionally an offering for those new to analysis, the course has also been used as a refresher to more seasoned analysts over the years.  Program link   Register online

The NFMA has released the final version of its White Paper on the Disclosure of Potential Conflicts of Interest
in Municipal Finance Transactions.  To view the paper click here, or go to Publications and click on Disclosure Guidelines.

The NFMA submitted a comment letter to the MSRB concerning draft amendments to Rule A-3 on Membership on the Board. Click here to read the letter: NFMA Comment Letter

The NFMA has released the “Recommended Best Practices in Disclosure for Direct Purchase Bonds, Bank Loans, and Other Bank-Borrower Agreements” (Bank Loan RBP). The Bank Loan RBP is the product of a subcommittee of the NFMA Industry Practices & Procedures Committee, and can be found at this link:  Bank Loan RBP   Comments on the paper were taken through May 3, 2015.  The Committee would like to thank all who submitted their comments.

The NFMA's Municipal Analysts Bulletin for June 2015 is posted under Publications, or can be viewed by clicking here: Vol.25, No. 2.

The NFMA Awards Committee presented six awards at its 32nd Annual Conference in Las Vegas on May 13, 2015. To read the press release, click here

The NFMA has released the draft "White Paper on the Disclosure of Potential Conflicts of Interest in Municipal Finance Transactions". The White Paper is a product of a subcommittee of the Disclosure Committee. Comments on the paper will be accepted through July 20, 2015.  White Paper on the Disclosure of Potential Conflicts of Interest in Municipal Finance Transactions, Draft Dated April 20, 2015.  Press release dated April 22, 2015

The NFMA's Municipal Analysts Bulletin for February 2015 is posted under Publications/Newsletters, or just click here:Vol. 25, No. 1  The newsletter includes the letter from this year's Chair, Jennifer Johnston, as well as committee and society reports. Catch up on what's happening at the NFMA - there's a lot going on!

The Board of Governors of the NFMA announced its new officers for 2015.  Serving as the 32nd Chair of the NFMA will be Jennifer L. Johnston, Vice President/Research Analyst, Municipal Bond Department, Franklin Templeton Investments.  Click here for the press release:  New Officers for 2015

Join us in congratulating 2014 NFMA Chair, Susan Dushock, for being named a Trailblazing Woman in Public Finance by the Northeast Women in Public Finance. The award presentation took place at the Bond Buyer's Deal of the Year awards dinner in New York on December 4.  Susan's interview can be found in the Bond Buyer special supplement: Link to Supplement

The NFMA's Municipal Analysts Bulletin, Vol. 24, No. 3 is posted. Click here, or go to Publications/Newsletters.

The NFMA is pleased to announce the first recipients of the scholarship honoring Peter Fugiel, past chair of the NFMA, who passed away earlier this year. Based on the high caliber of applications received, the NFMA has awarded two Fugiel Scholarships. The recipients are Eric Reese from the University of North Carolina MPA program and Scarlett Swerdlow from the University of Chicago's Harris School of Public Policy. Please click here to view the press release for the scholarship:  Press Release.  The educational program to which the scholarship applies  - the NFMA Introduction to Municipal Bond Credit Analysis - takes place on Thursday and Friday this week in Philadelphia.  In 1987, Peter Fugiel conceptualized and executed this program for the NFMA, and it has been offered annually since that time.

At the 2013 Bond Attorneys’ Workshop, Allen K. Robertson, President of the National Association of Bond Lawyers (“NABL”), announced that NABL would undertake a project regarding general obligation bonds as a result of the recent bankruptcy filings by local governments which have raised questions about the security of general obligation bonds.

In late June 2014, the NFMA released the final version of the White Paper on Best Municipal Bond Issuance Practices.  The paper incorporated feedback from a survey of NFMA members on new issue practices undertaken in the Spring of 2013, and was released for public comment in January 2014.

The NFMA announced its annual award recipients at its 31st Annual Conference at Disney's Grand Floridian Resort and Spa in Lake Buena, Florida, on May 7, 2014.  Recipients include James Spiotto, Richard Raphael, Mark Stockwell, Mary Francoeur and NASACT.  A scholarship was announced in memory of Peter Fugiel, Past NFMA Chair.  To read the press releases, click the following links:  Press Release - Annual Awards, Press Release - Disclosure Award, Press Release - Fugiel Scholarship.

The NFMA has created a new membership for students!  To learn more about Student Membership, please click here.

The Municipal Analysts Bulletin, Vol. 24, No. 1, is available. Learn about NFMA committee activities, society events, and industry outreach.

The NFMA released its draft White Paper on Best Municipal Bond Issuance and Disclosure Practices on January 14.  The comment date has been extended to  June 1, 2014.  To view the paper, click here. The press release can be found here.

The NFMA Board of Governors endorsed the "Voluntary Interim Financial Reporting: Best Practices for State Governments” approved by the National Association of State Auditors, Comptrollers and Treasurers (NASACT) in August. See the press release here.

The NFMA submitted a comment to the SEC on a Proposed Rule Change to Amend MSRB Rule A-3, on Membership on the Board, to Modify the Standard of Independence for Public Board Members, dated August 26, 2013.

on Twitter.

The Municipal Finance Journal publishes selected NFMA Annual Conference panels each year.  For the most recent issue (covering the 2012 Annual Conference), click here.

Released on June 27, The Guide to Implementation of GASB Statement 67 on Financial Reporting for Pension Plans is an authoritative resource designed to assist preparers and auditors of state and local government pension plan financial reports as they prepare to implement the standards, which are effective for periods beginning after June 15, 2013.
Also, a digital version of the Guide will be the first guide to be offered on the GASB website as a download at no cost. Furthermore, all subsequent guides will be available on the GASB website at no cost moving forward. A hard copy bound edition of the Guide can be ordered for $46.50 plus shipping by visiting the GASB store, or by calling the GASB Order Department at (800) 748-0659. For the full text of the press release, please click here.

The NFMA Municipal Analysts Bulletin, Vol. 23, No. 3 is available.

The MSRB released a video on the story of the organization and explains its role in the municipal bond market.

The NFMA presented awards at its Annual Conference in San Diego.  To view award recipients, click on the links to the: Excellence in Disclosure Awards and the Industry Contribution, Meritorious Service and Career Achievement Awards.

Bank Loan Disclosure Task Force White Paper on Voluntary Secondary Market Disclosure Disclosure About Bank Loans. May 1, 2013

NFMA Membership will soon include a Student Category.  The proposal, which is a change to the constitution, is subject to a 60 day comment period by the membership before it takes effect.

NFMA Submits Amicus Brief in Litigation Challenging California Redevelopment Agency Legislation
Amicus Brief
Press Release - April 10, 2013

NFMA Comment on MSRB Notice 2012-63 - March 6, 2013.

The MSRB has published the 2012 edition of its Fact Book, an online sourcebook that analyzes trading data and other statistics for the $3.7 trillion municipal bond market. This year, the Fact Book includes new statistics on municipal market trading activity based on the credit rating and average yields of customer trades of municipal securities. It also includes analysis on the more 50 million trades that occurred in the municipal market over the last five years as well as data on disclosures made by municipal bond issuers over the last two years. Read the full press release or view the fact book.

NFMA's Municipal Analysts Bulletin, Vol. 23, No. 1, is now available.

NFMA Recommended Best Practices in Disclosure for Housing Revenue Bond Issues was released in final form - February 15, 2013.

Bloomberg article on municipal analyst jobs - February 7, 2013.

NFMA Comment on MSRB Notice 2012-61 - February 4, 2013.

Bond Buyer profile of Jeff Burger, 2012 NFMA Chair - January 31, 2013.

Bill Oliver, past chair of the NFMA, has accepted a new role as Industry & Media Liaison.  Click here for the press release.  Bond Buyer article - January 30, 2013.

If you have a job to post, there is no cost. Just send the job description and way to apply to Lisa Good.  Only NFMA members may view the Job Bank in the NFMA Member Center. Job postings will remain on the site for 60 days.