In October of 1953, twenty-five men met at the George Vanderbilt Hotel in Asheville to address their objectives for governmental finance.
"To promote the improvement of methods of governmental financing...encourage the use of common terminology...encourage periodic independent audits and continuous internal audits within governmental units...achieve greater success in efficiency and services of government...";
Out of their concern, and the dedication of five men in particular--Ralph Dixon of Winston-Salem, Rainey Pope of Burlington, Dan Umstead of Durham, Lake Crowe of High Point, and A. E. Guy of Statesville--the North Carolina Government Finance Officers Association was formed. Their goal was to develop professional and ethical standards among their contemporaries.