SO YOU WANT TO BE A CGFO

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SO YOU WANT TO BE A CGFO!

• FLORIDA GOVERNMENT FINANCE OFFICERS ASSOCIATION
• SCHOOL OF GOVERNMENT FINANCE
• NOVEMBER 13, 2007
• MARY-LOU PICKLES, CGFO, CMA
• ST. JOHNS RIVER WATER MANAGEMENT DISTRICT
• CHAIR, CERTIFICATION COMMITTEE

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SO YOU WANT TO BE A CGFO!

• Topics
• Background information on the CGFO program in
  Florida
• The role of the Certification Committee
• Discussion and comparison of the CGFO and the
  CPFO programs
• General information about the CGFO program
  including qualifications fees

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SO YOU WANT TO BE A CGFO!

• Topics continued
• Preparing for the CGFO exam
• CGFO exam contents
• Review courses
• Why achieve the CGFO designation

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SO YOU WANT TO BE A CGFO!

• CGFO Program Background Information
• FGFOA purchased the original CGFO examination
  from the Government Finance Officers Association
  of Texas (GFOAT) in the early 1990s.
• The first CGFO examination was given and in the
  early 1990s.
• Rob Garners initiative and had14 successful
  candidates.
• The current CGFO examination is the 4th version.
• The 4th version of the CGFO examination was
  rewritten by Mr. Rob Garner a former President of
  the FGFOA and Board member. After a long
  distinguished career with the City of Orlando,
  Rob retired and is now President of Government
  Consulting Services Company.

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SO YOU WANT TO BE A CGFO!

• FGFOA Certification Committee
• General Information
• The Certification Committee administers and
  oversees the Certified Government Finance
  Officers Program. The committee evaluates and
  administers the semi-annual certification exams.
  Requirements for reporting continuing
  professional education (CPE) are monitored and
  overseen by the committee.
• Future committee projects include exploring
  on-line feasibility for the application, review
  courses, and exams.

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SO YOU WANT TO BE A CGFO!

• CPFO Sponsored By GFOA
• CPFO has Five Examinations
• CPFO - Governmental Accounting, Auditing, and
  Financial Reporting (1997)
• similar to CGFO Accounting Financial
  Reporting
• CPFO - Cash Management and Investments (1998)
• similar to CGFO Treasury Management
• CPFO - Debt Management (1999)
• similar to CGFO Debt Administration
• CPFO - Operating and Capital Budgets (2000)
• similar to CGFO Municipal Budgeting
• CPFO - Pensions Benefits, Risk Management, and
  Procurement (2001)
• similar to CGFO Financial Administration

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SO YOU WANT TO BE A CGFO!

• CPFO Sponsored By GFOA
• General Information
• Seven years to complete CPFO program vs. three
  years for CGFO program
• CPE Requirements 30 hours annually vs. 80 hours
  biannually for CGFO program
• Each examination has 175 questions vs. 75 for
  each exam for CGFO program
• Each examination is 210 minutes vs. 90 minutes
  for CGFO program
• Eligibility Requirements similar to CGFO program
• Study materials similar for both certifications

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SO YOU WANT TO BE A CGFO!

• CPFO Sponsored By GFOA
• General Information
• Examination is held twice a year once in the
  spring at GFOAs annual conference and in the
  fall at various locations throughout United
  States vs. twice a year for CGFO program in the
  fall at the SOGF and in the spring at various
  locations throughout Florida.
• Fees are first exam 295 and 145 for each
  subsequent exam vs. 50 application fee and 30
  for each exam session for CGFO program.

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SO YOU WANT TO BE A CGFO!

• States With CGFO Certifications
• States
• Alabama
• Florida
• Illinois
• Louisiana
• New Jersey
• North Carolina
• Oregon
• South Carolina
• Texas
• All the above listed States have similar CGFO
  programs to Florida covering for the most part,
  the same subject areas with some States
  incorporating State law like Florida into the
  CGFO examination.

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SO YOU WANT TO BE A CGFO!

• About the CGFO Program
• The Certified Government Finance Officer (CGFO)
  Program is intended to encourage a level of
  knowledge and professionalism in the field of
  government finance. It is also intended to
  encourage development and maintenance of
  professional competence for practicing
  governmental finance officers.

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SO YOU WANT TO BE A CGFO!

• CGFO Exam General Information
• The 4th version of the CGFO examination was used
  for the first time in November, 2004
• First year examination results for the 4th
  version were a pass rate of 60 on all sections
• Three versions of each CGFO exam topic have been
  developed from the test bank
• Test questions are evaluated and updated by the
  committee as necessary to ensure questions are
  current and relevant

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SO YOU WANT TO BE A CGFO!

• CGFO Exam General Information
• To receive CGFO designation , candidates must
  pass (achieve a minimum score of 75) all five
  sections of the CGFO examination in three years.
• Exams are offered twice a year in November at the
  School of Government Finance and in the spring
  (usually in March) at various locations
  throughout the state depending on demand.
• There are approximately 300 members of the FGFOA
  with the CGFO Active designation.

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SO YOU WANT TO BE A CGFO!

• Qualifications to Become a CGFO
• Active member of FGFOA.
• Apply for admission into certification program
• Fulfill educational credentials
• Satisfy the experience requirement
• Successfully complete an open book Ethics Exam
  (achieve a minimum score of 75)
• Pass the certification exams (5 parts )
• Comply with FGFOA Code of Ethics.

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SO YOU WANT TO BE A CGFO!

• Qualifications to Become a CGFO
• Education Requirement
• Must possess at least a bachelors level degree
  in accounting, business administration, public
  administration or other closely related field.
• Experience Requirement
• Must have three years of governmental work
  experience.

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SO YOU WANT TO BE A CGFO!

• CGFO Fees
• Application fee is 50 which covers a three year
  period.
• Exam sitting fee is 30 for each exam taken.
• CGFO review sessions fee is 40 for each section
  taken.
• CGFO CPE reporting fee is 40 which covers a
  biannual reporting period.
• CGFO CPE late reporting fee is 25 if the
  postmark is later than July 31st.

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SO YOU WANT TO BE A CGFO!

• Preparing for the CGFO Exam
• Make a personal commitment to self-study
• Sharpen knowledge of exam topics
• Restore test-taking skills
• Take review courses offered by FGFOA

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SO YOU WANT TO BE A CGFO!

• CGFO Distribution of Exam Topics
• Accounting Financial Reporting
• Topic Description Percent
• Accounting/Internal Control/Capital Assets 30
• Financial Reporting (Internal and External) 30
• Auditing 15
• State of Florida Policies and Regulations 15
• CAFR Award 10
• 100

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SO YOU WANT TO BE A CGFO!

• CGFO Distribution of Exam Topics
• Debt Administration
• Topic Description Percent
• Issuance / Refunding 35
• Players and Roles 10
• Debt Structuring Financing Methods 20
• Rating Process 10
• Policies and Regulations 15
• Derivative Related 5
• 100

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SO YOU WANT TO BE A CGFO!

• CGFO Distribution of Exam Topics
• Financial Administration
• Topic Description Percent
• Pension Benefits 25
• Risk Management 15
• Management Principles 15
• Purchasing/Procurement/Auditor 15
• Information Systems 15
• Grant Administration Audit Selection 15
• 100

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SO YOU WANT TO BE A CGFO!

• CGFO Distribution of Exam Topics
• Municipal Budgeting
• Topic Description Percent
• Budget Process / Budget Types 20
• Fiscal Policies Best Practices 20
• Performance Measurement 15
• Revenue Management Forecasting 20
• CIP Financial Planning 15
• Budget Presentation Award 10 100

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SO YOU WANT TO BE A CGFO!

• CGFO Distribution of Exam Topics
• Treasury Management
• Topic Description Percent
• Investment Policy Regulations 40
• Investment Types 15
• Ratings Duration 5
• Collections / Receipts / Cash Flow 15
• Managing Banking Services 20
• 100

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SO YOU WANT TO BE A CGFO!Reference Materials

• Accounting Financial Reporting
• Florida Statutes http//www.leg.state.fl.us/
• Florida Statutes Chapter 218 Financial Matters
  Pertaining to Political Subdivisions (all
  sections)
• (specifically)
• Florida Statutes 218.32 Annual financial
  reports local governmental entities
• Florida Statutes 218.39 Annual financial audit
  reports
• Florida Statutes 218.391 Auditor selection
  procedures
• Florida Statutes 218.503 Determination of
  financial emergency
• Florida Statutes Chapters 11.4 The Auditor
  General (all sections)
• (specifically)
• Florida Statutes 11.40 Duties of the Auditor
  General
• Florida Statutes 11.45 Definitions duties
  authorities reports rules

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SO YOU WANT TO BE A CGFO!Reference Materials

• Accounting Financial Reporting
• Rules of the Auditor General Chapter 10.550 (all
  sections) http//www.state.fl.us/audgen/pages/rule
  s.htm
• (specifically)
• Rules of the Auditor General Chapter 10.556
• Governmental Accounting, Auditing, and Financial
  Reporting, Using the GASB 34 Model 2005 GFOA
• All chapters
• Appendix A Illustrative Journal Entries
• Appendix F Glossary
• Certified Information Systems Auditor, Sample
  Test - ISACA
• http//www.isaca.org/Content/NavigationMenu/Assura
  nce/CISA_Certification/Exam_Information/Sample_Que
  stion_Challenge/CISA_Sample_Question_Challenge.htm
  

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SO YOU WANT TO BE A CGFO!Reference Materials

• Debt Administration
•  
• Florida Statutes http//www.leg.state.fl.us/
• Florida Statutes 163.335 Findings and
  Declarations of Necessity
• Florida Statutes 200.065 Method of fixing millage
• Florida Statutes 218.25 Limitation of shared
  funds
•  
• FAQs regarding Record Retention Requirements,
  Government Entities - IRS
• http//www.irs.gov/govt/article/0,,id119336,00.ht
  ml
•  
• IRS Publication 4079, Tax-Exempt Governmental
  Bonds - IRS
• http//www.irs.gov/pub/irs-pdf/p4079.pdf
•  
• Recommended Practice Statements, Debt Management
  - GFOA
• http//www.gfoa.org/services/rp/debt.shtml

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SO YOU WANT TO BE A CGFO!Reference Materials

• Debt Administration
• Debt Issuance and Management A Guide for Smaller
  Governments GFOA
• Guide to Preparing a Debt Policy GFOA
• An Elected Officials Guide to Rating Agency
  Presentations GFOA
• An Elected Officials Guide to Debt Issuance
  GFOA
• Tax Exempt Financing A Primer GFOA
• Investing Public Funds - GFOA

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SO YOU WANT TO BE A CGFO!Reference Materials

• Financial Administration
• Florida Statutes http//www.leg.state.fl.us/
• Florida Statutes Chapter 175 Firefighter Pensions
  (all sections)
• Florida Statutes 175.061 Board of Trustees
• Florida Statutes 175.071 General powers and
  duties of board of trustees
• Florida Statutes 175.101 State excise tax on
  property insurance premiums
• Florida Statutes 175.231 Diseases of firefighters
  suffered in line of duty
• An Elected Officials Guide to Risk Management
  GFOA
•  
• Governmental Accounting, Auditing, and Financial
  Reporting, Using the GASB 34 Model 2005 GFOA
• Chapter 12 Transaction-specific and
  Account-specific Guidance
• Chapter 15 Reporting for Specialized Entities
• The Reinventor's Fieldbook Tools for
  Transforming Your Government - David Osborne 
• Essentials of Management - Harold Koontz (or
  other general management book)

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SO YOU WANT TO BE A CGFO!Reference Materials

• Financial Administration
• Essential Guide to Computing E. Garrison
  Walters 
• Manager's Guide to Purchasing an Information
  System ICMA 
• State Local Government Purchasing Principles
  Practices National Association of State
  Procurement Officials
•  
• Auditor Selection Guidelines 2007, Florida
  Auditor General
• http//www.state.fl.us/audgen/pages/pdf_files/audi
  tor20selection20guidelines.pdf
•  
• Certified Information Systems Auditor, Sample
  Test - ISACA
• http//www.isaca.org/Content/NavigationMenu/Assura
  nce/CISA_Certification/Exam_Information/Sample_Que
  stion_Challenge/CISA_Sample_Question_Challenge.htm
  
• OMB Circular A-133 - U.S. Office of Management
  Budget
• http//www.whitehouse.gov/omb/circulars/a133/a133.
  html
• OMB A-133.200
• OMB A-133.230

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SO YOU WANT TO BE A CGFO!Reference Materials

• Municipal Budgeting
• Florida Statutes http//www.leg.state.fl.us/
• Florida Statutes Chapter 200 Determination of
  Millage (all sections)
• Florida Statutes 200.065 Method of fixing
  millage
• Florida Statutes 200.068 Certification of
  Compliance with this Chapter
• Florida Statutes 200.071 Limitation of millage
  counties
• Florida Statutes 200.081 Millage limitation
  municipalities
• Florida Statutes Chapter 218 Financial Matters
  Pertaining To Political Subdivisions
• Florida Statutes 218.25 Limitation of shared
  funds
•  
• Capital Improvement Programming A Guide for
  Smaller Governments - GFOA
•  
• An Elected Officials Guide to Revenue
  Forecasting - GFOA
•  
• An Elected Officials Guide to Performance
  Measurement - GFOA
•  
• An Elected Officials Guide to Multi-Year
  Budgeting - GFOA

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SO YOU WANT TO BE A CGFO!Reference Materials

• Municipal Budgeting
• Recommended Budget Practices A Framework for
  Improved State and Local Government Budgeting
  GFOA http//www.gfoa.org/services/dfl/budget/Recom
  mendedBudgetPractices.pdf
•  
• Recommended Practices - Budgeting and Fiscal
  Policy GFOA
• http//www.gfoa.org/services/rp/budget.shtml
• GFOA Budget Award Criteria
• Distinguished Budget Presentation Awards
  Program, Criteria Guide - GFOA
• http//www.gfoa.org/forms/documents/BudgetCriteria
  Location_001.pdf
• Distinguished Budget Presentation Awards
  Program, Criteria Explanations - GFOA
• http//www.gfoa.org/forms/documents/BudgetCriteria
  Explanations.pdf

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SO YOU WANT TO BE A CGFO!Reference Materials

• Municipal Budgeting
• Governmental Accounting, Auditing, and Financial
  Reporting, Using the GASB 34 Model 2005 GFOA
• Chapter 1 GAAP and the Governmental Environment
• Chapter 2 The Governmental Financial Reporting
  Model
• Chapter 10 Financial Statements
• Chapter 16 Budgetary Integration and Reporting
• Chapter 17 Performance Measurement
•  Cost Analysis and ABC for Governments GFOA
•  
• Decision Tools for Budgetary Analysis GFOA
•  
• The Operating Budget A Guide for Smaller
  Governments GFOA

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SO YOU WANT TO BE A CGFO!Reference Materials

• REVIEW SESSIONS
• Offered at the School of Government Finance
• Spring Review Class Pilot Program????

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SO YOU WANT TO BE A CGFO!

• How does Certification Benefit You?
• You will distinguish yourself as a business
  professional who is committed to a strict code of
  ethics
• You will confirm substantial knowledge of
  accounting, finance, and important related fields
  and demonstrate the ability to integrate this
  information into the business decision process
• You will demonstrate your commitment to personal
  professional development

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SO YOU WANT TO BE A CGFO!

• How does Certification Benefit You?
• Opportunity to asses and demonstrate capabilities
  and expand knowledge base
• Distinguishes you from peers and proves your
  commitment to excellence and lifelong learning
• Recognition of achievement
• Expanded career options
• Identifies you as a motivated professional for
  hiring, recognition, and advancement purposes

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SO YOU WANT TO BE A CGFO!

• How does Certification Benefit You?
• Personal Satisfaction
• Enhance your self-confidence, your sense of
  accomplishment, and your resume

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SO YOU WANT TO BE A CGFO!

• What are you waiting for?
• Take the Challenge!
• www.fgfoa.org/CGFO Program

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SO YOU WANT TO BE A CGFO!

• For additional information
• Contact Mary-Lou Pickles
• at [phone]
• Mpickles_at_sjrwmd.com
• or visit FGFOA web site at
• http//www.fgfoa.org

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Questions?