In late 1996 the process of formation of the local self-government system in the Republic of Armenia began. In 1997-1999, in order to assist the process, the International City Management Association (ICMA) in co-operation with the School of Public Administration of Armenia started to implement the Project on Modernization of Local Finance Management. The Project participants were deputy heads of communities and heads of financial departments. The purpose of the Project was to train the participants in local budgeting, to transfer corresponding knowledge and to introduce international experience. The Project was accomplished with a great success, and the faculty and participants of the Project, assuming that foundation of NGO’s would have an important role in formation and development of local government system, convened a founding meeting and established the Community Finance Officers Association on September 24, 1998 . CFOA began its activity at the beginning of its foundation.
To assist strengthening and development of local self-government system in Armenia by addressing existing issues and challenges and by participating, on one side, in the development of respective policies, legal framework and methodological tools, complying them with modern methods and international criteria of community governance and, on the other side, tackling implementation of existing policies, legislative requirements and conceptual approaches.
Communities Finance Officers Association is the key pillar of the RA self-government system equipped with necessary resources to carry out activities, cutting-edge information and communication systems, skillful experts and professionals renowned both in Armenian and abroad. The organization serves as a platform of comprehensive professional discussions and dialogues for state bodies, local authorities, civil society and private sector, who make and implement policies in the field of local governance to support straightening and development of local self-government system.