For the last number of years, local governments have been buffeted by the arrival of new technologies – most recently, the rapid advances in artificial intelligence. Some cities have the capacity to adapt to most of this onslaught, but most – notably the smaller communities – don’t have the resources to effectively implement these innovations in a timely way.

Enter the Government Finance Officers Association, which on August 25 announced that its Board had authorized the staff to seriously explore the potential of an “Innovation Lab,” (which for the moment is just a working title). The final decision about whether or not to go forward will be made in the months ahead. 

It certainly seems like a splendid idea. The goal, according to a press release is to create “a national platform to identify, develop, and scale solutions to pressing challenges in local government finance” by:

• “Creating and testing new solutions developed in-house or with partners.”

• “Providing broad access to innovations that benefit governments of all sizes.”

• “Accelerating adoption of GFOA best practices through practical, tech-enabled tools.”

• “Evaluating innovations rigorously to ensure alignment with public priorities and measurable value to communities.”

As Shayne Kavanagh, GFOA senior manager of research, explains to us, “This Lab concept offers a rare opportunity: to reconnect innovation with public purpose, empower government institutions with practical solutions, and guide transformative projects that directly improve people's lives. It is a step towards renewing our collective ambition and shaping the future of public finance innovation.”

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