The Society established the Robert M. Odell Endowed Scholarship Fund in 1987 with a gift of $71,000, primarily the result of contributions from hundreds of private sector companies in support of the 1986 GFOA Conference in Los Angeles. The scholarship honors Robert M. Odell, former City Treasurer of Los Angeles.

To be eligible, applicants must be currently enrolled as a full-time upper division or graduate student in a public administration major and must remain in good academic standing. Strong consideration is giving to students emphasizing finance and first-generation college students.