Welcome to the NFMA!

Registration continues for the NFMA's Advanced Seminar on The Impact of ESG & Resiliency Issues on Credit Analysis, to be held at the Westin Copley Place, Boston, on October 11 & 12. Several new speakers have been added.  To view the program, click here. To register, click here.

Registration is open for the NFMA's Introduction to Municipal Bond Credit Analysis, to be held in Philadelphia on November 29 & 30. To view the program, click here. To register, click here.

The National Federation of Municipal Analysts’ 2018 Peter Fugiel Scholarship is available for award to a full-time student in an accredited academic program in a field that would serve as preparation for a career in municipal finance. This annual scholarship awards one student with a stipend to cover the registration fees and travel costs associated with attending the NFMA’s Introduction to Municipal Bond Credit Analysis Seminar traditionally held each fall in Philadelphia. The scholarship also includes a one-year student membership. The scholarship was created in memory of Peter Fugiel, a past chair of the NFMA who passed away in 2014. Dr. Fugiel was recipient of both a Meritorious Service Award and Career Achievement Award from the NFMA. Dr. Fugiel developed the very Introductory Course that this scholarship funds. The NFMA is honored to be able to award this scholarship annually to a student in recognition of Dr. Fugiel’s work both as a practitioner of municipal credit analysis and a professor and educator. To apply for the scholarship, click here. The deadline for completed applications is September 30, 2018.

The NFMA publishes its newsletter, the Municipal Analysts Bulletin, three times per year. The current issue, Vol. 28, No. 2, is now available and includes photos and news from the 35th Annual Conference. The newsletter also provides members with the opportunity to hear from NFMA officers and committees, as well as constituent societies, with news about past and upcoming initiatives and events. You can find past newsletters under Resources on the navigation bar on the NFMA home page.

The NFMA presented awards to five individuals on May 30, 2018, at the 35th Annual Conference at the Hotel del Coronado. To read the press release, click here.

The NFMA announced the filing of an amicus curiae brief with the United States Court of Appeals for the First Circuit in support of the appeal filed by Assured Guaranty, Financial Guaranty Insurance Company and National Public Financial Guarantee Corporation of a decision of the United District Court for the District of Puerto Rico (the “District Court”) involving Puerto Rico Highway and Transportation Authority bonds. Click here to read the press release:  Press releaseClick here to read the amicus brief: amicus brief.

The NFMA Disclosure Committee released the final version of the Recommended Best Practices in Disclosure for Water and Sewer Bonds, Dated April 2018.

On April 2, the Governmental Accounting Standards Board (GASB) released guidance designed to enhance debt-related disclosures in notes to financial statements, including those addressing direct borrowings and direct placements. To read the media release, click here.

The NFMA's newsletter, the Municipal Analysts Bulletin, Volume 28, Number 1, is posted. Click here to read reports from officers, committee chairs and societies.

Educational Programs

The NFMA holds an Annual Conference each spring. The conference provides members with the opportunity to hear presentations, to meet with members of other Constituent Societies of the NFMA, and to contribute their efforts to the overall advancement of the NFMA. At the conference, the NFMA presents awards to individuals and organizations for extraordinary contributions to municipal analysis. For a list of past award recipients, click HERE.

The NFMA also holds its Introduction to Municipal Bond Credit Analysis for new analysts each fall; the location for the past several years has been Philadelphia. Finally, Advanced Seminars cover in-depth current topics of importance to the industry for seasoned analysts, and are held in various locations around the country each fall and January.

Constituent Societies hold educational events for members. Many of these events are open to members of other societies within the NFMA, and are posted on the NFMA's Event Calendar.



Market Advocacy

The NFMA has been a strong advocate of improved disclosure in the municipal market since its inception. Throughout its history, the NFMA has issued recommended best practices, white papers, comment letters and position statements on relevant topics in the municipal market. To view NFMA papers, go to Resources.

Job Bank

The NFMA maintains a job bank for its members. Employers may submit job postings via this link: Job Bank Submissions