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GFOA Financial Foundations Framework <br />1. Establish a Long-Term Vision <br />•Promote collaboration; Balance long-term goals with short-term needs <br />2. Build Trust and Open Communication <br />•Create open lines of communication; Cultivate trustworthy reputations <br />3. Use Collective Decision-Making <br />•Engage stakeholders; collective choice arrangements; networked enterprises <br />4. Create Clear Rules <br />•Boundaries; Monitoring; Maintain oversight; Sanctions and rewards <br />5. Treat Everyone Fairly <br />•Proportional equivalence; Conflict resolution; Recognition of Rights <br />13