GFOA Advisories identify specific policies and procedures necessary to minimize a government’s exposure to potential loss in connection with its financial management activities. To alert governments to the risks associated with derivative products, GFOA maintains an Advisory (Use of Derivatives and Structured Investments by State and Local Governments for Non-Pension Fund Investment Portfolios - 2010) which specifically advises state and local government finance officers to exercise extreme caution in the use of derivatives and structured finance products […]