Thirty-four of the top financial minds representing LSA member and associated Lutheran organizations gathered in San Diego for the annual Lutheran Financial Managers Association (LFMA) meeting on October 9-11, 2016, to share best practices, network, and explore new trends in financial management. In addition to being in beautiful and warm San Diego, it was a fantastic conference, focusing on everything from new FASB regulations to growth strategies to the new federal overtime law.
The conference opened with Marc Doss from Wells Fargo providing an insightful (and at times, slightly scary) examination of the global forces affecting the economy, ranging from the geopolitical to global birth rates to Brexit. If the forecasts are to be believed, 2017 will be a bit of a rollercoaster! Patrick Theusen from LSS of Minnesota, and LFMA’s board chair, gave an overview of their growth and discontinuation matrix, and how its applications help shape strategy. Continuing the focus on growth, Terry Paulson gave a lively and hilarious briefing on how cultural and psychological issues impact organizational strategy. John Kelley and Eric Eder from Sequiris offered a glimpse into the terrifying world of ransomware and responses to data breaches. Bared Dilacar and Harold Parsons from CliftonLarsonAllen provided insight into the upcoming changes to FASB standards, designed to provide donors and funders a better glimpse into the organization’s financial stability and health. And lastly, Dana Smith from Exalt Resources discussed the new federal overtime rule and how it was impacting workforce. As you can tell, there was much food for thought, and for discussion.
Thanks so much to the LFMA board, LFMA coordinator Steve Anderson, and Kylee Sivertson of Lutheran Social Services of South Dakota for putting together such a thought-provoking and engaging conference!