Fort Worth Chapter of The Association of Government Accountants CGFM Articles

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March 27, 2007
CGFM CPE requirements 

In order to maintain their CGFM designation in an active status, CGFMs must adhere to the AGA's Code of Ethics, pay the annual renewal fee by March 31 and meet the following continuing professional education (CPE) requirements: 

• complete at least 80 hours of CPE every two years in government financial management topics or related technical subjects. 
• maintain and, if requested by AGA, provide detailed information on CPE hours completed. 

The two-year CPE cycle is based on the year the CGFM was awarded. For a list of cycles, please visit http://www.agacgfm.org/cgfm/maintain/cgfm_calendar.aspx. 

Determining if CPEs are applicable: continuing professional education hours that would satisfy the CGFM Program's requirement must be in government financial management topics or related technical subjects applicable to government financial management areas. 

The CGFM is initially responsible for determining whether a topic or subject qualifies as acceptable CPE. To help one make that determination, the CGFM should consult the CPE Requirements booklet (available online at http://www.agacgfm.org/cgfm/maintain/cpe_requirements.aspx), including a listing of more than 50 topics and subject areas that could qualify for government financial management CPE hours. Additional questions should be referred to the Office of Professional Certification - 703.684.6931, ext. 305. 

Maintaining proper documentation: CGFMs need to maintain documentation to substantiate their statements of completed CPE for a minimum of three years. This documentation may be requested by AGA as part of a CPE audit or a reactivation process. The proper backup documentation must clearly state the individual's attendance or completion of the CPE activity. Examples of such documentation include: a certificate of attendance or completion, a certificate of CPE hours earned, a grade report or an official letter from the event sponsor or employer stating that the CGFM has attended the event. 

The documentation must include the following information: - sponsoring organization, - location of the activity, - title of the program, - individual's name, - completion date (or dates attended), and - number of CPE hours earned. For more information on the requirements to maintain a CGFM in an active status, please visit http://www.agacgfm.org/cgfm/maintain/ 

Katya Silver 
Director of Professional Certification Administration

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February 20, 2007
Intensive Review Course - don't miss this opportunity to take the CGFM exams 

Have you applied for the CGFM Program, but are having difficulty committing time to study and take the exams? Would you like to save on exam fees? Then consider AGA's Intensive Review Course! Already a staple at two of AGA's conferences, it was just offered before the National Leadership Conference (NLC) in Washington DC and once again was sold out. 

After attending the two-day review course on February 9-10, the candidates tackled the CGFM Examinations over the next two days (with some taking all three exams in one day!). As a result, 19 of the participants passed all three (or finished up their remaining) CGFM Examinations at this event. Several others passed one or two examinations and are on their way to completing the CGFM process. 

While this "intense" experience is not for everybody, participants were attracted to the idea of completing the CGFM process in a short period of time, having a set deadline to take the examinations and saving money (the cost of CGFM Examinations is included in the Intensive Review Course fee and this fee is less than the cost of the three examinations). Holding an Intensive Review Course and CGFM Examinations in conjunction with AGA National Leadership and Professional Development Conferences gives the candidates one more way to reinforce the material and take the CGFM Examinations (candidates can also take the exams at Prometric testing centers anytime). 

The extra reinforcement of the material is exactly what some people wanted and needed. The Intensive Review Course is not a substitute for the six days of regular instructor-led training courses. On the contrary, this course is designed as a supplement to previous preparation for the CGFM Examinations. In fact, the majority of the participants have either attended the CGFM training courses or purchased the CGFM study guides before participating in the Intensive Review Course. 

AGA plans to continue offering this course and CGFM Examinations at its upcoming conferences. The next Intensive Review Course is scheduled for June 21-22, 2007 (with exams on June 23-24, 2007) in conjunction with AGA's Professional Development Conference (PDC) in Nashville, TN. For more information or to register, visit http://www.agacgfm.org/pdc2007/cgfm_exam.htm. Space is limited - if you are interested in participating, sign up now! 

Katya Silver 
Director of Professional Certification Administration

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January 23, 2007
Annual CGFM renewal time. 

It is time to renew your CGFM designation and/or AGA membership! Below you'll find answers to frequently asked questions about CGFM renewal:

Q: How often do I have to renew my CGFM designation?
A: CGFM certification is renewed on an annual basis. A renewal invoice is sent out in February and the payment is due by March 31st. If you do not receive an invoice by mid-March, please call AGA at 1.800.AGA.7211. If your address has recently changed, please be sure to update your contact information with AGA and pay your dues in the "Members only" section of AGA website (www.agacgfm.org). 

Q: What are the requirements for maintaining the CGFM certification in an active status? 
A: To maintain the CGFM certification in an active status, CGFMs are required to: 

-- Pay the CGFM renewal fee by the due date every year. 

-- Complete at least 80 hours of continuing professional education (CPE) every two years in government financial management topics or related technical subjects. 

-- Maintain and, if requested by AGA, provide detailed information on CPE hours completed. To retain the CGFM certification, all CGFMs must adhere to the AGA's Code of Ethics. By submitting their annual renewal payment, CGFMs affirm that they have and will continue to abide by AGA's Code of Ethics and that they have fulfilled the minimum CPE Requirements. 

Q: How do I determine my CPE cycle? 
A: Your first two-year CPE cycle starts on January 1st of the year following the one when your CGFM was awarded (for example, if your CGFM was awarded in 2001, your first CPE cycle was 1/1/02-12/31/03). The award date is listed on your CGFM certificate. Your current CPE cycle is listed on your renewal invoice. For a table of all CPE cycles visit www.agacgfm.org/cgfm/maintain/cgfm_calendar.aspx. 

Q: My two-year CPE cycle just ended on December 31, 2006, but I did not complete 80 CPEs in 2005-2006. Can I make up the deficiency? 
A: Yes. CGFMs who have not completed the 80 CPE hours in 2005-2006 cycle have until March 31, 2007 to make up the deficiency. Any CPE hours completed toward a deficiency in one period must be documented in the CPE records and may not be counted toward the requirements for the next two-year period. More information on CGFM CPE requirements can be found on www.agacgfm.org/cgfm/maintain/cpe_requirements.aspx. 

Q: I just retired. Do I need to do anything to adjust my CGFM status to "retired"? 
A: Yes. Individuals who are retired from AND are no longer substantially working in the government financial management community can request an adjustment of their status to "retired" by contacting AGA's Office of Professional Certification (by mail or e-mail at agacgfm@agacgfm.org  - please provide the date of retirement and confirm that you are no longer substantially working in the government financial management community). CGFMs in retired status are not required to remit the CGFM renewal fee or earn the 80 CPE hours. If retired CGFMs return to work (substantial employment or contracting) in the government financial management community, they must contact AGA to change their status back to "active." 

More information on CGFM renewal policies can be found on www.agacgfm.org/cgfm/maintain/.

Katya Silver 
Director of Professional Certification Administration

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December 11, 2006
CGFM Profile: Second Career Prompts Dave Swindell to Find 'Right' Certification
by Christina Camara

Like many career military officers, Dave Swindell needed to make a big transition after his retirement. Unlike many of his peers, he did not shift to consulting work, contracting for the Department of Defense or maintaining close ties to his Army past. He made a big break, moving to an area with no military presence and taking on something completely new: a job in local government. 

"When you change careers, everything's open. I considered the private sector, but in the end I was fairly pleased with the ethics and purpose of government. I don't know if I could work that hard to make someone else money." Swindell ended his 22-year military career, and moved from Oklahoma to Pocatello, Idaho, where he has served as the city's chief financial officer for the past five years. One of his first priorities was to become certified, and the CGFM turned out to be the broad-based governmental accounting certification that he was looking for. 

"I was influenced by others who were active in AGA," Swindell said. "Pocatello is home to Idaho State University and Kitty Pumphrey. Kitty is the Professor of Governmental Accounting and an active AGA pusher - and on my selection committee, I later found out. She got me thinking about the CGFM." 

Swindell said that as a federal employee, he became well schooled in financial and policy analysis. He also earned a master's degree in public administration along the way. In the Army, his focus was on setting budget priorities, not the specifics of governmental accounting. By contrast, one of Swindell's first hires - CPA Joyce Stroschein - was stronger in accounting techniques and not as experienced in financial analysis. He purchased the self-study guides and got to work. After he passed the first exam, Stroschein also started studying, and ended up earning her certification before her boss did. 

"We really studied on our own, but we encouraged each other. I couldn't help but finish," he said. "There was a little honor involved." In addition to her CGFM, Stroschein received a promotion from senior accountant to controller. "She also found the program to be a good refresher of just how everything is connected between accounting, management, leadership and accountability to the public," Swindell said. 

Earning the CGFM from Pocatello was somewhat complicated. To take the exams, Swindell traveled to Ogden (130 miles), Salt Lake City (177 miles) and Boise (240 miles), with his wife in the passenger seat quizzing him on the way to the testing centers. Being an AGA member isn't simple either, as the Idaho Centennial Chapter meets in Boise, on the other end of the state. Swindell and Stroschein attend AGA's regional conferences and as many chapter functions as time and distance allow. 

Taking a job in local government has been a great experience and a huge growth opportunity, Swindell said. Since entering West Point at age 18, his life had been wrapped up in the Army, a life he understood and knew well. He was comfortable walking the halls of Congress or the Pentagon, but nowhere is the role of government in people's lives more obvious than in City Hall. Approving a setback for a garage may sound mundane, but it's pretty important to the resident involved. At the federal level, the direct impact of what you do can be somewhat lost, he said. "Everything a city does is generally important," he said. "I found the right niche for me." 

The values he learned through his military education-becoming a well-rounded person with awareness of many disciplines-applied to the CGFM. As a big believer in what he calls a "core education," the CGFM fit into his desire to understand the big picture. Studying for the CGFM Exams gave Swindell a stronger knowledge of the theoretical underpinnings of governmental accounting, describing the origin of certain rules and how they evolved to the point where they are today.  "I think the CGFM distinguishes you amongst your peers," he said. "I can testify to the value of it." 

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November 14, 2006
Take the CGFM Examinations before the NLC

AGA is once again offering a great opportunity to take the CGFM Examinations and earn your CGFM before the annual National Leadership Conference (NLC) in Washington D.C. Whether you've been thinking about earning your CGFM or have enrolled but found it difficult to find time to complete the three exams, this is your chance to get it done! 

To help you reach that goal, we are offering a two-day Intensive Review Course on Thursday, February 8, and Friday, February 9, 2007 and an opportunity to take CGFM Examinations on February 10-11, 2007. The cost of the course is only $249 for qualified participants, and it offers 18 CPE hours. Special Bonus: the CGFM Examinations are offered at no cost to course attendees. 

This course is designed as a supplement to previous preparation for the CGFM Examinations, so this is a perfect opportunity for those individuals who have already attended GFM training courses or have been preparing by using the CGFM Study Guides. Enrollment is limited and participants must first apply and be accepted into the CGFM Program, so don't delay. 

More information and a registration form for this event are available on AGA website - http://www.agacgfm.org/nlc_2007/cgfm_exam.htm. If you have any questions, contact Katya Silver at 703-684-6931 ext. 305 or ksilver@agacgfm.org. 

Katya Silver 
Director of Professional Certification Administration

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October 23, 2006
IT'S THAT TIME OF THE YEAR AGAIN - MAKE SURE YOU HAVE YOUR CPEs

Are you one of the CGFMs who received their designation in 1996, 1998, 2000, 2002 or 2004? Then you need to have at least 80 Continuing Professional Education (CPE) hours earned within the two-year period of January 1, 2005 and December 31, 2006. 

If short, you can take advantage of the grace period of January 1 - March 31, 2007 to catch up on your CPEs (these hours then cannot be counted towards your next cycle of 2007-2008). 

If you have not yet reached your mark, you still have time. What you have to do is remind yourself that every activity might serve a dual purpose. If you are earning a graduate degree, if you are teaching or writing, or if you are earning CPEs for another certification, you might be able to count these CPEs towards your CGFM certification requirement. Review the opportunities available to you for earning CPE hours, and you will realize that there are many ways in which you can maintain your CGFM certification without undue cost or time demands. 

Consider:

• Online CPE opportunities, including AGA's "Journal CPE Online" that offers CPE hours for reading The Journal of Government Financial Management and taking the relevant quizzes and online courses offered through Micromash and SmartPros, two educational organizations in partnership with AGA (www.agacgfm.org/education/educationdefault.aspx). 
• CPE offered by AGA chapters and state CPA or other government finance officer societies and other organizations.
• Opportunities to earn CPE hours for teaching a relevant course (not to exceed 40 CPE hours in any two-year period), publishing an article or book that contribute directly to CGFM's professional proficiency (up to 20 CPE hours) or taking applicable college courses.

Not all CPEs can count towards the CGFM designation. The hours earned must be in government financial management topics or related technical subjects applicable to government financial management areas. Applicable CPEs would need to maintain or enhance your professional proficiency in government financial management, and you have to keep back-up documentation of the completed CPE for at least three years. This documentation may be requested by AGA if you are selected to be audited; however, CGFMs should not automatically send information on their CPE hours to AGA at the time of renewal. 

For more detailed information about earning CPE hours, what topics and subjects can qualify for CPEs and answers to commonly asked CPE questions, please visit www.agacgfm.org/cgfm/maintain/cpe_requirements.aspx. If you have any additional questions, contact AGA's Office of Professional Certification at 800.AGA.7211, ext. 305.

Katya Silver 
Director of Professional Certification Administration

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September 26, 2006
Earning a Certified Government Financial Manager (CGFM) designation - a step-by-step guide.

Interested in the CGFM designation? Want to know where to start or what happens next?

Here is a step-by-step guide on how you can earn the CGFM designation: 

Step 1 - Applying for the CGFM Program. Submit an application form for the CGFM Program via internet, fax or mail, including the application fee of $85. Fax or mail a copy of your transcript from an accredited college or university. The transcript must show that a degree (bachelor's or higher) was awarded and must list at least 24 credit hours of courses in financial management or related topics. Your name and the name of the college or university must appear on all transcripts.

Step 2 - Eligibility Letter. Once your application, payment and degree documentation are received and processed, the Office of Professional Certification will mail you an Eligibility Letter with instructions on how to purchase your CGFM Examinations. Your eligibility for taking the CGFM Examinations expires in three years from the date your CGFM application was processed.

Step 3 - Work Verification. Submit a Verification of Government Financial Management Work Experience form as soon as you have at least two years of professional-level experience in the government financial management field. You do not have to submit this form before taking the examinations, but the experience requirement must be met before the designation can be granted.

Step 4 - Studying for Examinations. You have several options, including classroom courses, study guides and a reading resources list. You may also want to contact a local AGA chapter to find out if there are any study groups or other support available to help you prepare for the examinations.

Step 5 - Examination Purchase. Following the instructions on your Eligibility Letter, purchase CGFM Examination(s) through the AGA website and print the Test Authorization Letter. Examination fees are $109 for each of the three examinations.

Step 6 - Taking the Examinations. Follow the instructions on the Test Authorization Letter to schedule a testing appointment at a Prometric Test Center near you. Show up at the testing center on your appointment date (be sure to read and follow the testing procedures described on the Test Authorization Letter).

Step 7 - Score Reporting and Retakes. After you complete an examination at a Prometric Test Center, you will immediately receive a pass/fail score on the computer. Numerical scores are not provided. If you did not pass your exam, there is a 30-day waiting period before you can repurchase and retake that examination. If you fail the same exam more than once, the waiting period is 90 days.

Step 8 - Award Letter. Once you pass all three CGFM Examinations, and your Verification of Government Financial Management Work Experience form has been submitted and accepted, the Office of Professional Certification will send you an award letter announcing your new CGFM designation. You can start using the "CGFM" after your name only after you receive the official award letter from AGA.

Step 9 - CGFM Certificate. A CGFM certificate will be mailed within a few weeks of issuing the award letter. An excellent source of additional information on the CGFM Program is the AGA website (www.agacgfm.org, select "CGFM Certification" on the navigational bar). If you have any questions, please feel free to contact the Office of Professional Certification at 1.800.AGA.7211, ext. 306 or 305.

Katya Silver
Director of Professional Certification Administration

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April 11, 2006
Take the CGFM Examinations at the PDC

For the second year in a row AGA is offering a great opportunity to take the CGFM Examinations and earn your CGFM at the annual Professional Development Conference & Exposition (PDC) in San Diego. Whether you've been thinking about earning your CGFM or have enrolled but found it difficult to find time to complete the three exams, this is your chance to get it done!

To help you reach that goal, we are offering a two-day Intensive Review Course on Thursday, June 15 and Friday, June 16 and an opportunity to take CGFM Examinations on June 17-19, 2006. The cost of the course is only $225 for qualified participants, and it offers 18 CPE hours. Special Bonus: the CGFM Examinations taken during this event are free of charge!

This course is designed as a supplement to previous preparation for the CGFM Examinations, so this event is perfect for those individuals who have already attended CGFM training courses or have been studying by using the CGFM study guides. Space is still available, but enrollment is limited and participants must first apply and be accepted into the CGFM Program, so don't delay.

More information and a registration form for this event are available on AGA website - <http://www.agacgfm.org/pdc2006/cgfm_exam.htm>. If you have any questions, contact Katya Silver at 703-684-6931 ext. 305 or ksilver@agacgfm.org. 

Katya Silver,
Director of Professional Certification Administration

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March 16, 2006
CGFM Profile: Marlene K. Dorenkamp 

When Marlene K. Dorenkamp became president of AGA's Des Moines Chapter, she wanted to set an example for her fellow chapter members, give herself an injection of confidence and show that attaining the CGFM credential was "doable." 

"I thought that it would be good incentive for others if I went ahead and took it and let them know if it was achievable," Dorenkamp said. That she did, by passing the three examinations and becoming the first chapter member to become a CGFM through the exam process. 

It took Dorenkamp one year to study and pass the exams, finishing up in November 2005. When she achieved her goal, the chapter did not overlook it. The current chapter president, Michelle Wendel, and other members recognized her at last November's Chapter Executive Committee meeting with a certificate and cupcakes. The next month, the chapter presented her with a scholarship, to defray some of her costs, and a cake in her honor. 

Dorenkamp, who is also a CPA, used AGA's three study guides to prepare. She also organized a study group with two other members. Once a week, they would set aside an hour to study, helping them stay focused. Some of the material was very familiar. At the time, she was working in the school finance arena with the state Department of Education, and needed a strong understanding of the financial reporting requirements of the Governmental Accounting Standards Board's (GASB) Statement 34. Her success on the exams did, in fact, give her a boost. "It really did help," she said. "It gave me confidence that I knew the answers to some of the questions. I knew more than I thought I did." 

She encourages anyone going into governmental accounting to consider the CGFM. "I think it's an excellent way to get that background. When I went through school, they had one governmental accounting course and that was it." 

Dorenkamp had success using the study guides, while other CGFM candidates like to take the three preparatory courses and use the study guides to complement what they learned. She said the study guides have a lot of good information, reviews at the end of each chapter, and an appendix with reference materials to learn more. 

Her advice for CGFM candidates is to make a goal and schedule the exams. Don't procrastinate and lose momentum. That way, the exams are on the calendar and it's easier to stay on track. "I made a goal when I first started that I would have it done by a certain time, and that kept me motivated and kept me going."

By: Christina M. Camara

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February 17, 2006
Intensive Review Course and CGFM Examinations a Success once again 

The Intensive Review Course is again a big hit! Offered now for the second time at the National Leadership Conference (NLC) in Washington DC on February 1 and 2, 2006, it was once again sold out at 50 participants. 

After attending the two-day review course, the candidates tackled the CGFM Examinations over the next two days (with some taking all three exams in one day!). As a result, 23 of the participants passed all three (or finished up their remaining) CGFM Examinations at this event - even more than at the similar event in July of last year! Others passed one or two examinations and are on their way to completing the CGFM process. 

While this "intense" experience is not for everybody, participants were attracted to the idea of completing the CGFM process in a short period of time, having a set deadline to take the examinations and saving money (the cost of CGFM Examinations is included in the Intensive Review Course fee, which is less than the cost of the three examinations). Holding an Intensive Review Course and CGFM Examinations in conjunction with AGA National Leadership and Professional Development Conferences gives the candidates one more way to reinforce the material and take the CGFM Examinations (candidates can also take the exams at Prometric testing centers anytime). 

The extra reinforcement of the material is exactly what some people wanted and needed. The Intensive Review Course is not a substitute for the six days of regular instructor-led training courses. On the contrary, this course is designed as a supplement to previous preparation for the CGFM Examinations (such as attending the courses and/or using study guides). In fact, the majority of the participants have purchased the CGFM study guides before participating in the Intensive Review Course. 

AGA plans to continue offering this course and CGFM Examinations at its upcoming conferences. The next Intensive Review Course is scheduled for June 15-16, 2006 (with exams on June 17-18, 2006) in conjunction with AGA's Professional Development Conference (PDC) in San Diego, CA. For more information or to register, please visit http://www.agacgfm.org/pdc2006/cgfm_exam.htm. 

Katya Silver

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January 19, 2006
Annual CGFM renewal time!

AGA National is getting ready to send you an annual renewal invoice for your CGFM certification and/or AGA membership. If your address has recently changed, please be sure to update your contact information with AGA and pay your dues in the "Members only" section of AGA website (www.agacgfm.org). Below you'll find answers to frequently asked questions about CGFM renewal:

Q: How often do I have to renew my CGFM designation?

A: CGFM certification is renewed on an annual basis. A renewal invoice is sent out in February and the payment is due by March 31st. If you do not receive an invoice by mid-March, please call AGA at 1.800.AGA.7211.

Q: What are the requirements for maintaining the CGFM certification?

A: To maintain the designation, a CGFM holder must: 1. Pay the CGFM renewal fee at the beginning of every year. 2. Adhere to the AGA Code of Ethics. 3. Every two years complete at least 80 hours of continuing professional education (CPE) in government financial management topics or related technical subjects (with at least 20 in each year). 4. Maintain and, if requested by AGA, provide detailed information on CPE hours completed. If you did not renew your CGFM certification last year or have not earned 80 CPE hours in your last two-year CPE cycle, please contact the Office of Professional Certification at 1.800.AGA.7211 (703.684.6931), ext. 305. 

Q: I just retired. Do I need to do anything to adjust my CGFM status? 

A: Yes. If you have recently retired from AND are no longer substantially working in the government financial management community, please notify AGA of your change of status to "retired" by fax (703-562-0361) or email (agacgfm@agacgfm.org). Should you return to work (substantial employment or contracting) in the government financial management community, please contact AGA to change your CGFM status back to "Active." 

Katya Silver

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December 14, 2005
CGFM: Multiple Benefits for Multiple Clients 

Why become a Certified Government Financial Manager if you don't work for government?

The benefits of earning the CGFM for government finance professionals are well known, but two members of AGA's Corporate Partner Advisory Group (CPAG) recently talked about how the CGFM helps their private sector organizations and the clients they serve.

AGA's CPAG Program, which boasts more than 50 corporate partners, brings together executives from industry and government to exchange problems and solutions, build trust and work together to make government more accountable. One message government executives are hearing is that AGA's CGFM credential is not only a valuable addition to the resumes of government employees, but it also helps professionals at private firms demonstrate their expertise to work on government finance projects. Consider these comments. 

Michael T. Smokovich, CGFM, Senior Vice President, Delta Solutions - Having once served as the chief financial officer of U.S. Agency for International Development (USAID) and as a deputy at the U.S. Department of the Treasury, Smokovich knows what it takes to successfully bring a new financial management solution to a federal agency. 

One of the reasons failures occur, Smokovich said, is because the people who are working on the systems "don't understand the playing field they're working in." 

"What happens with the CGFM is there's a whole lexicon of terminology and understanding that goes with the federal environment in particular, but also with state and local governments." 

He recalled talking with vendors working on an IRS systems project who had no understanding of budgetary accounting. "How are they ever going to succeed if they fail to understand what it takes to solve the problem?" 

"If you go through the process of understanding all the principles, standards, rules and conventions that are made known to people in the certification process, you have a better way of understanding what your clients are saying about their particular financial management problem," he said. 

Having CGFMs on the project team is a good marketing tool for the firm and it gives the government clients the confidence that the contractors are speaking the same language. 

Smokovich said federal agencies or private firms that contract with government should "buy into" the CGFM. "If you have young people coming into the federal environment or the corporate environment to work with government, it's a good investment." 

Ron Smith, CGFM, Vice President of Enterprise Financial Services, Systalex - Smith said government agencies are starting to request CGFMs on project teams contracted to install new financial systems. It is becoming more and more important for the contractors to receive the same training as the financial managers themselves, he said. 

"We're moving into an era of what I'll call a 'blended work force,' with the financial functions that were formerly performed by government employees now being done by contractors," said Smith, who has also worked for the federal government before moving to the private sector. 

Smith, who has been in the federal financial management consulting business for 30 years, said he is constantly on the lookout for talented systems accountants who are knowledgeable about the federal environment, but it's difficult to find people with a good grasp of federal rules and regulations. 

The CGFM, he said, is "an indication of a skill set that a person has. It's another measure of their potential value to a project." 

To become a CGFM, candidates must have the appropriate education and professional experience and pass three rigorous examinations that cover a broad range of issues in federal, state and local government financial management. For more information about AGA's CGFM Program, go to <http://www.agacgfm.org/cgfm/cgfmdefault.aspx>. Detailed information about AGA's Corporate Partner Program can be found at <http://rmtrgweb.caci.com/aga/docs/index.cfm>.

 By: Christina M. Camara 

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November 18. 2005
AGA's Maine Chapter has learned a few things about bringing the live CGFM training courses to its members
by Christina Camara

Gathering tips from other chapters, co-sponsoring the courses with the state controller's office, finding free classroom space and keeping prices low helped. The biggest key to success, however, was the support of State Controller Ed Karass, CGFM, who calls himself the CGFM's "biggest cheerleader in state government."

Karass has gone beyond encouraging his employees to earn the credential - he has added the CGFM to the list of certifications for newly opened high-level management positions in state finance. April Newman, financial management coordinator for the Office of the State Controller, who helped organize the courses, said 13 people had signed up before the CGFM was added to the list of minimum qualifications; within a week or two of this change, the courses were filled. "Suddenly, there was a lot of interest in people taking the courses and getting the certification," Newman said.

Karass and Chapter President Karen Doyle, CGFM, director of the Division of Accounting and Finance Services, followed up by speaking to state government leaders on the benefits of hiring professionals with the CGFM designation. So many people signed up for the courses that the price was dropped from $600 to $400. State managers paid the entire course fee for the employees they sent to the courses.

"I give them a lot of credit for doing that," Newman said, noting that managers throughout government want to recruit and retain qualified people because a wave of pending retirements is expected to thin the ranks. "This truly opened the doors," she said, "only 20 people are active CGFMs in Maine now, so this was a great opportunity for people who would not have done it otherwise."

Karass has encouraged all 34 state employees who took Courses 1 and 3 last month to go forward and take the examinations and become CGFMs. Eight people from the controller's office attended the courses. Another chapter member offered to organize a study group to help them prepare. Course 2 will be offered in May.

Jody Breton, CGFM, an AGA Immediate Past Regional Vice President for the New England region, and Dave Lachance, CGFM, outgoing chapter president, were also instrumental in bringing the courses to Augusta, Newman said.

Newman admits that the idea of bringing the courses to Maine, which has a small chapter of about 140 members, was somewhat daunting at first, but getting help from other chapters, not to mention the support and encouragement of the state controller, made all the difference. "If anyone had said to me, this could be done, I wouldn't have believed it," she said.

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October 17, 2005
Chapter Shows Hard Work Can Result in CGFM Recognition

AGA's Mid-Missouri Chapter proves that persistence pays off.

The chapter's CGFM Committee recently celebrated another success in gaining recognition for the CGFM - this time in a new accounting specialist series in the state's Uniform Classification System. This success follows the chapter's work in 2003 to obtain CGFM recognition in the auditor series.

"When the auditor series was completed, we knew it would pave the way for CGFM recognition in other classifications," said Vandee DeVore, CGFM, a past president of the chapter who was active in both efforts. The changes in the accounting specialist series became effective Oct. 1, 2005.

As is the case for the auditors, the CGFM is recognized as equal to a bachelor's degree and two years of professional experience in the new accounting specialist series.

DeVore said the effort took two full years of research and discussion. A group of government financial managers requested that the new accounting specialist series qualifications include requirements for accounting degrees and credit for various certifications, including the CGFM.

DeVore, who is central payroll manager for the Division of Accounting within the Missouri Office of Administration, said the new requirements support the state's shift in emphasis away from accountants as those who merely keep records and process transactions to those with a diverse range of responsibilities and technical skills. The shift to a more educated and experienced work force is one that's taking place throughout corporate and governmental accounting. The Sarbanes-Oxley corporate reform legislation, for example, outlined more stringent requirements for accounting professionals.

"These qualifications will allow government financial managers to be better prepared to serve the administration and promote an accountable government to the taxpayers of the state," DeVore said. "This change will move the State of Missouri forward by meeting these high standards of the profession."

For more information about Missouri's success, please contact DeVore at Vandee.Devore@oa.mo.gov or 573.522.5863.

Katya Silver
Director of Professional Certification Administration

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September 14, 2005
Earning the CGFM and Spreading the Word

When state of Michigan employee Doreen Brown earned her CGFM certification, she naturally wanted her immediate supervisor to know about it. But she didn't stop there, asking AGA to also notify other top state officials, including the governor herself. Brown, who is an accounting manager for the Michigan Department of Management and Budget's Financial Services Division, said her goal was to spread the word about AGA's certification program.

After passing all three CGFM examinations, her achievement was announced at a staff meeting of 80 employees, it was written up in the local newspaper, and she received a letter of congratulations from Governor Jennifer M. Granholm. "Serving the public is one of the noblest occupations one can choose, and your career doing so speaks volumes about the greatness of your character," Granholm wrote. "From the beginning, your record of dedication shines brightly and this achievement is just another highlight in your already outstanding career." Granholm went on, "Greek dramatist Sophocles once said, 'Success is dependent on effort.' Judging from the consistent quality work and the unwavering commitment you have demonstrated over the years, you are a model of effort and example of success." 

New CGFMs can follow Brown's example. Consider announcing the accomplishment to the governor, treasurer, controller and/or state auditor. AGA sends out information about the CGFM with every personalized letter that is sent. It's a great way to raise awareness of the CGFM designation. Brown noted that Granholm had previously shown support for the CGFM by signing a proclamation naming March as CGFM Month in Michigan. Brown's Greater Lansing Chapter has also been active in encouraging members to earn their CGFM. In fact, the chapter reimbursed Brown for $500 of the costs of her examination fees and preparation materials.

Howard Pizzo, Past Chapter President and Director of Financial Services, is also a new CGFM, having earned his certification during the Professional Development Conference & Exposition in Florida in July. Pizzo and other chapter members are actively promoting the CGFM in Michigan, and Brown is helping co-workers who are studying to earn their certification. "We have a lot of interest," she said.

If you are a new CGFM, be sure to fill out and return your supervisor notification form to the National Office so we can notify others of your accomplishment. The forms are mailed with the new CGFM award packages.  AGA chapters can contact Katya Silver (ksilver@agacgfm.org) about ways to recognize new CGFMs and educate others about the CGFM certification.

By: Christina M. Camara

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April 18, 2005
Eight States Designate March 'CGFM Month'
by Chris Camara

Thanks to the initiative and dedication of AGA regional and chapter leaders, eight states have declared March as Certified Government Financial Manager month. Governors signed proclamations in Arkansas, Idaho, Louisiana, Maine, Michigan, Tennessee, Texas and Wisconsin. In addition, Indiana declared March as "Indiana Government Accountants Month."

David Mellem, CGFM, an AGA regional CGFM coordinator for North Central region, started the initiative last year when he received support from Governor James Doyle and Secretary of State Douglas La Follette, who declared April of 2004 as CGFM Month in Wisconsin.

"When I called the governor's office there was no hesitation," Mellem recalled. "They responded the following day."

Mellem wrote the proclamation, which briefly describes AGA, the Southern Wisconsin chapter, its commitment to government accountability, and the rigorous testing and education requirements to earn and maintain the CGFM designation. The proclamation, which was again approved this year, reads in part that the CGFM "provides a means of demonstrating professionalism and competency" and that chapter members are "making significant advances both in professional ability and in service to the citizens of Wisconsin by mastering increasingly technical and complex requirements . . . "

Mellem said other chapter leaders and regional coordinators discussed the idea of seeking similar proclamations from governors around the country during a monthly teleconference meeting. Other AGA chapters used Mellem's proclamation as a model, and seven additional governors proclaimed March of 2005 as CGFM month.

Mellem said chapters can build on their success. "There's more we can do. I would think it would help because there's some degree of backing from the governor in promoting the program," he said. The next step for the Southern Wisconsin Chapter is to meet with one of the state employees unions to raise the idea of gaining recognition for the CGFM in hiring and promotions in state government.

To read the proclamation, please visit AGA's website at www.agacgfm.org/cgfm/proclamations.aspx

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March 17, 2005
CGFM CPE requirements

Have you renewed your CGFM and/or AGA membership this year? The annual invoices went out in February and are due by March 31, 2005. If you have not submitted your payment, please be sure to mail a check, fax your credit card information or pay online (www.agacgfm.org) as soon as possible.

If you are a CGFM holder, paying the renewal fee is not the only requirement of keeping your designation active. In fact, you cannot renew the CGFM unless you are complaint with the CGFM Continuing Professional Education (CPE) requirement of earning at least 80 CPE hours in your last two-year CPE cycle, with at least 20 hours in each year.

Your two-year CGFM CPE cycle depends on the year your CGFM was awarded: if you have earned your CGFM in 1996, 1998, 2000 or 2002, your last two-year CPE cycle just ended on December 31, 2004. If you do not have 80 CPEs in 2003-2004, you can catch up during the grace period of January 1-March 31, 2005. Any hours completed towards a deficiency in one CPE cycle may not be counted towards the next cycle.

If you have earned your CGFM in 1994, 1995, 1997, 1999, 2001 or 2003, your current CPE cycle is 2004-2005 and you should have earned a minimum of 20 CPE hours in 2004 and will need to complete 80 CPE hours by the end of this year.

Individuals who have not met the CPE requirement need to contact AGA's CGFM office at 1.800.AGA.7211 ext. 313.

Not all CPEs can count towards the CGFM designation. The hours earned must be in government financial management topics or related technical subjects applicable to government financial management areas. CPEs must contribute to the CGFM's professional proficiency in government financial management, and you need to maintain documentation of the CPE completed (for at least three years). This documentation may be requested by AGA if you are selected to be audited; however, CGFM holders should not automatically send information on their CPE hours to AGA at the time of renewal.

For more information on CGFM CPE requirements, please visit AGA website at http://www.agacgfm.org/cgfm/maintain/cpe_requirements.aspx.

Katya Silver
Director of Professional Certification Administration
Toll Free: 800.AGA.7211, ext. 313
www.agacgfm.org

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February 17, 2005
Studying for CGFM Examination 1
by Virginia Brizendine

The first examination (although the exams can be taken in any order) covers the "Governmental Environment." A CGFM certificate holder should have an in-depth knowledge of the structure and workings of government. This exam focuses on seven areas:

• Organization and Structure of Government
• Legal and Other Environmental Aspects of Government
• Interrelationships Among Planning, Programming, Budgeting, Operations, Accounting, Reporting and Auditing
• Governmental Financing Process
• Public Accountability
• Ethics in Government
• Financial Management Responsibilities and Skills

The subjects covered in each of these sections can be found at the AGA website (www.agacgfm.org) on the CGFM tab under "What Do Exams Cover?", Examination 1.

The first two sections of examination 1 address basic civics information often covered in political science or public administration courses. Those subjects were typically studied sometime ago by most of us and focused on concepts. However, those concepts are reality for someone working in or with government. Studying for this examination should include some reflection on how the concepts behind the structure and operation of government affect actions in the workplace. For example, the responsibility to provide education was not delegated to the Federal government in the U. S Constitution; it was reserved to the states. How does this affect the ways the federal government can influence the actions of education programs in the individual states? How does the state's control of its political subdivisions affect a local school district's funding? Most college-level public administration books have information on government structure and the concept of governmental sovereignty.

The management cycle, while also present in the corporate world, can be applied uniquely in governments. Books used for college level management courses can be referred to obtain both a theoretical foundation and practical applications on the processes and interrelationships in the management cycle. Simply using a search engine such as Google and searching on "plan, program, budget, operate, account, report, audit, cycle" will bring up numerous sites where strategic planning documents support the practical usefulness of the cycle and where audit reports document problems that occur when the cycle breaks down.

Governmental Financing Process addresses various ways governments raise revenues: taxes, grants, shared revenues, user fees, debt, etc. The unique revenue sources of special-purpose governments are also addressed in this section. The Government Finance Officers Association has several books that discuss these issues:

• Local Government Finance Concepts and Practices by John E.Peterson and Dennis R. Stachora, eds.
• Tax-exempt Financing: A Primer
• An Elected Officials' Guide to Debt Issuance by J.B. Kurish and Patricia Tigue
• A Guide for Preparing a Debt Policy

Public administration course books will also have information on other types of financing and often discuss pros and cons of using certain types of financing options.

Many of the topics in the Public Accountability and Government Ethics sections are likewise covered in public administration books. The AGA Code of Ethics is a "must study" for the section of the test http://www.agacgfm.org/about/codeofethics.aspx.  Practical ethics application discussions are also encouraged for CGFM candidates. Government employees really do have a private life and the same rights as other citizens. So, what happens if our family owns land next to a proposed government annexation/ purchase that may increase or decrease the value of the land and my government position makes me a part of the decision-making process? What ethical actions are available for me?

The final section deals with management responsibilities and skills. Test preparation should include reviewing the responsibilities and duties of the federal CFOs as set forth in the CFO Act of 1990. The heads of other government financial groups have similar responsibilities. Management Policies in Local Government Finance, GFOA, and Management Control in Nonprofit Organizations by Robert Anthony and David Young, can provide some insight.

The Governmental Accounting Standards Board's Concept Statement 1 (Objectives of Financial Reporting and Statement 2 (Service Efforts and Accomplishments Reporting) should be studied, as should the Federal Accounting Standards Advisory Board's SSFAC 1 (Statements of Federal Financial Reporting). Other resources for Examination 1 study can be found on the AGA website. Many of these books are costly at list prices. Local AGA chapters may want to facilitate studying for the exams by purchasing some of these publications. Some books can also be purchased from the used book section of www.amazon.com, www.half.com or used textbook sites. Several of the books should be available at the libraries of colleges or universities with departments of public administration.

AGA offers a comprehensive online course that allows individuals to take the Governmental Environment training when convenient. The cost is $195; eight CPE credits are available for the course. Information about the course is available at www.agacgfm.org/cgfm/prepare.

Management Concepts, Inc. provides instructor-led courses on topics covered by the CGFM exam. The Government Environment is Course 5601. Information for this course can also be found on www.agacgfm.org/cgfm/prepare.

Finally, a self-study guide is being prepared for the Governmental Environment exam and is scheduled to be available later this year.

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January 25, 2005
AGA welcomes Peter V. Aliferis, CGFM, as its new director of Professional Certification.
by Chris Camara

An AGA member for more than 20 years and one of the earliest supporters of the CGFM credential, Aliferis is looking forward to spreading the word to professionals and their employers about the benefits of certification.

"I've been a proponent of a specialized certification for government financial managers from the get-go and now I'm getting to walk the walk since I've been talking the talk."

Aliferis joins the AGA National Office after a long career at the Government Accountability Office (GAO), holding several management positions, including directing the Special Projects Office and Director of Operations at the Accounting and Information Management Division. While he served as director of the Office of International Audit Organization Liaison, GAO colleague Jeff Steinhoff, CGFM, who was then AGA's National President, introduced the CGFM

Program. "I was one of those people that went to Jeff behind the scenes all the time and said it was a wonderful thing." In fact, Aliferis was one of AGA's first CGFMs, with certificate No. 151.

As the CGFM Program starts its second decade, Aliferis would like to see the CGFM held in as high regard in the government sector as the CPA is in the public sector.

"What I would like to do is shine more light, make it more visible so that people will truly understand its value." Professionals who pass the three examinations feel a tremendous sense of accomplishment, he said, adding that the "CGFM" acronym identifies financial managers as having a broad base of knowledge in local, state and federal financial management. The credential also gives financial managers a leg up when it comes time for promotions. "A supervisor would be hard-pressed to choose a non-CGFM over a CGFM all other things being equal," he said.

Aliferis most recently worked at the U.S. Department of Agriculture Graduate School as dean of curriculum for government auditing, accounting, budgeting and financial management. Aliferis was responsible for developing and evaluating the training program that covers everything from entry-level skills to a master's degree in public sector auditing for local, state and federal financial managers. He is a member of several professional associations and is the former chairman and a member of the board of directors of Browne Academy, a not-for-profit elementary school in Alexandria, VA. He is also vice president and member of the board of the Independent School Chairpersons Association.

Join us in welcoming Pete to the AGA staff.

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December 15, 2004
CGFM Designation - It's Not Just For Accountants
By Pete Rose

Government financial management is broad in scope. Consider the diversity of AGA's membership: while many are accountants and auditors, AGA members are also budget analysts, program analysts, internal auditors and other financial management professionals. The common goal of our membership is interest in government financial management and advancing government accountability.

The Certified Government Financial Manager (CGFM) Program reflects the diverse range of knowledge required of government financial managers. Look at the content specifications of CGFM Examinations (http://www.agacgfm.org/cgfm/exams/).  A CGFM needs to have knowledge about how the government works, how governments are financed, ethical considerations, management techniques, financial analysis, internal controls, budgeting, cost accounting, cash management, investment management, procurement, inventory systems, credit management and financial management systems.

One of the strengths of the CGFM certification is the combination of the detailed knowledge of governmental accounting coupled with a general understanding of other government financial management practices, such as budgetary accounting and cost accounting. A CGFM has to know about the requirements at all levels - federal, state and local. Much of the knowledge required by a CGFM involves theory - why things are done the way they are done. Only a small portion is devoted to practice - the actual entries that are needed for specific transactions.

The CGFM designation demonstrates a person ‘s knowledge, skills and abilities about government in general. If you are in any type of position in government financial management, the CGFM should be at the top of your list as a preferred certification.

On occasion, we are asked how the CGFM compares to the CPA. In a sense, there is no comparison. The CPA is more than a certification - it can also lead to obtaining a license. If your goal is to practice public accounting - the review and audit of financial statements in order to render an opinion - then you must have a license from a state board of accountancy. To get a license, you have to pass the CPA examinations. That is why the CPA is unique among certification programs.

The CGFM designation, coupled with a CPA, can be a powerful tool in your arsenal. Not only do you possess the knowledge, skills and abilities to practice public accounting, you also have knowledge, skills and abilities about the unique aspects of government.

If you are in a profession that does not require a CPA, then you need to consider obtaining a certification that sets you apart from your peers. If you are in government, as a budget analyst, program analyst, grant manager, or in any other financial management position, then the CGFM should be your first choice for a certification program.

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November 17, 2004
CGFM Program Celebrates 10 Years of Success
by Christina Camara

When Jeffrey C. Steinhoff began planning for his 1993-1994 term as AGA National President, a new certification program was not on his priority list. Steinhoff, who is managing director of the Financial Management and Assurance Team at the Government Accountability Office, testified quite often before congressional committees at that time. One particular hearing stands out. "During the hearing, Senator James Sasser, the chairman, really asked a lot about my professional credentials and made a pretty big deal about me being a CPA, and that added a sense of greater reliability, and greater reliance on whatever I was saying," Steinhoff recalled. "I really didn't think those skills and that exam I passed quite some time before that was all that applicable to the issues I was discussing at the hearing."

Chairman Sasser had unknowingly planted a seed that would bloom into AGA's CGFM Program, which is celebrating its 10th anniversary this year. Steinhoff saw a strong need to recognize the "very rich portfolio of knowledge and skills" that are unique to government financial managers, who are dealing with complex issues that are quite different than those of the private sector.

Steinhoff looked at the many previous discussions and studies AGA had spearheaded on the subject. In 1992, a task force recommended dropping the idea, but he found the sentiment to be split nearly 50-50, so he began planning to introduce the concept to the National Executive Committee and AGA's chapters. Before he even started, though, he was warned by his

colleagues at GAO that he already had a strong plan in place for his presidential term. They said he didn't need to take the risk of launching an initiative that was destined to be rejected by the membership. "I felt strongly that we were viewed as second-class citizens by some in the profession. We have special and unique skills and we shouldn't be second to anyone," Steinhoff said. "There was really nothing that recognized government financial managers out there at all."

Steinhoff generated interest in the concept and received a broad mandate from the membership to pursue it. He introduced the program at the 1994 Professional Development Conference. He hoped 4,000 would apply for CGFM status during the initial certification period, when the CGFM was granted based on education and experience. "There were those who said I'd have trouble getting 500," he said. Then began the deluge of mailbags to the AGA National Office. More than 13,000 became certified. Also, AGA's membership shot up by 7,000 over a few short years, and attendance at the annual PDC skyrocketed. The CGFM is considered AGA's most successful undertaking.

AGA's Professional Certification Board, which oversees the CGFM Program, developed a training program of three courses that help prepare CGFM candidates for the three examinations. The exams were computerized from the start, and the board has gone through the rigorous process of updating them to keep the material fresh and relevant to the issues financial managers face every day. Board members, who are experts in state and local government, federal accounting standards, the Yellow Book and more, have dedicated hundreds of hours of volunteer time to the CGFM Program. Many board members who serve today, including Steinhoff, helped develop the program 10 years ago.

Steinhoff is heartened by the growing list of governments that recognize the CGFM, but he also recognizes that establishing a new credential takes many years of effort at the grassroots level. The CGFM will become a more sought-after credential over time, as Steinhoff sees a future of continuing growth. "The CGFM is a mark of achievement, an indicator of excellence in our chosen field and it will only grow in value," Steinhoff said.

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October 14, 2004
It's That Time of Year Again - Make Sure You Have Your CPEs

Over 4800 active CGFM holders need to meet their Continuing Professional Education (CPE) requirement this year - that is to say, you need to have 80 CPEs earned within the two-year period of January 1, 2003 and December 31, 2004.

How do you know if this is your year to make sure you have earned 80 CPEs? If you have received your CGFM in 1996, 1998, 2000 or 2002, then your current two-year CPE cycle ends on December 31, 2004. If short, you can take advantage of the grace period of January 1 - March 31, 2005 to catch up on your CPEs (these hours then cannot be counted towards your next cycle of 2005- 2006).

If you have not yet reached your mark, you still have time. What you have to do is remind yourself that every activity might serve a dual purpose. If you are earning a graduate degree, if you are teaching or writing, or if you are earning CPEs for another certification, you might be able to count these CPEs towards your CGFM certification requirement. Review the opportunities available to you for earning CPE hours, and you will realize that there are many ways in which you can maintain your CGFM certification without undue cost or time demands.

For example:

• Online CPE availability includes "Journal CPE Online Program" that offers CPEs for reading The Journal of Government Financial Management and taking the relevant quiz and online courses offered through Micromash and SmartPros, two educational organizations in partnership with AGA (www.agacgfm.org/education/educationdefault.aspx).
• Federal Government employees have free access to E-Training through the Gov Online Learning Center (www.golearn.gov).
• CPEs sponsored by AGA chapters, state CPA or other government finance officer societies and other organizations.
• Instructors can earn CPE hours for teaching a course (not to exceed 40 CPEs in any two-year period); writers who publish an article or book that contribute directly to CGFM's professional proficiency can earn up to 20 CPEs; and students who are earning their Masters degree can receive 45 CPEs by completing a 3-credit college course that relates to government financial management. 

For more detailed information about earning CPE hours, what topics and subjects qualify for CPEs and answers to commonly asked CPE questions, please go to the AGA website (www.agacgfm.org), click on "CGFM Certification," "How Do I Maintain a CGFM," and "CPE Requirements." If you have questions on CGFM CPE requirements, you can also contact AGA National at 800.AGA.7211, ext. 313.

Katya Silver
Director of Professional Certification Administration
Toll Free: 800.AGA.7211, ext. 313
www.agacgfm.org

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Studying for the CGFM examinations? Want to learn about governmental auditing and internal controls? Good news: the Governmental Financial Management and Control Study Guide is here! This guide has multiple goals:

• It is a self-study guide for those interested in studying on their own for CGFM Examination No. 3: " Governmental Financial Management and Control;" 
• It is used as the course guide in the instructor-led version of this course; and
• It offers knowledge and learning beyond preparing for the examination, and an option of earning 16 continuing professional education (CPE) hours upon passing a CPE examination.

The book covers various financial management functions and controls required of government financial managers, including internal controls, auditing, performance measurement, financial analysis techniques and specific financial management practices used in government. It is designed for accountants, auditors, budget professionals, and controllers in government as well as academics and other professionals that have an interest in government. It is particularly appropriate for newly hired professionals.

The new study guide features textbook-like format with learning objectives, a chapter summary and a reinforcement quiz for each chapter. The book is close to 400 pages, not counting the extensive appendices, which bring the page count to 800+ pages. In addition to the relevant resources, the appendices contain a glossary, a list of reference materials, answers to reinforcement quizzes with explanations and end-of-course review questions.

To order your study guide today, visit AGA website at www.agacgfm.org/cgfm/prepare/studyguide.aspx. If your chapter is interested in purchasing multiple copies of the study guides, please contact Katya Silver at ksilver@agacgfm.org. 

Katya Silver
Director of Professional Certification Administration
Toll Free: 800.AGA.7211, ext. 313
www.agacgfm.org

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May 21, 2004
CGFM Exam 2

The CGFM examinations are intended to test a candidate's knowledge, skills, and abilities in all areas of government financial management - federal, state and local.

Examination 1, Governmental Environment, covers the organization and structure of government; legal and other environmental aspects of government; interrelationships among planning, programming, budgeting, operations, accounting, reporting, and auditing; governmental financing processes; public accountability; ethics; and financial management responsibilities and skills.

Examination 3, Governmental Financial Management and Control covers internal controls; auditing; performance measurement and reporting; financial and managerial analysis techniques; and financial and managerial concepts, controls and techniques as applied to cash management, investment management, credit management/debt collection, procurement management, inventory/supply management, and financial management systems.

For the most part, the questions for these two exams are generic-that is, they apply equally to federal, state, or local levels of government financial management. For example, questions on auditing include the Yellow Book standards, issued by the General Accounting Office. State and local governments that receive federal funds are required to follow these standards. Furthermore, many state and local government auditors have adopted the Yellow Book standards for their audits.

Examination 2, Governmental Accounting, Financial Reporting and Budgeting covers general knowledge about accounting, reporting and budgeting that apply to all levels as well as questions specific to accounting, reporting and budgeting at the state and local level as well as the federal level.

The general knowledge questions include the following subject areas-influences, concepts of financial reporting and standards setting; general principles, which includes measurement focus, basis of accounting, fiscal accountability, and exchange and nonexchange transactions; cost accounting and performance reporting; and budgeting.

Because accounting standards and concepts of financial reporting differ between the federal level and the state/local level, the questions in the general knowledge area may relate more to one of the levels. For example, the standard setting bodies for both levels identify users of financial statements. However, the users identified by the Government Accounting Standards Board (GASB) are not the same as the users identified by the Federal Accounting Standards Advisory Board (FASAB).

Both boards have adopted concept statements regarding financial reporting. However, the concepts differ between the two boards. As a result, candidates taking this examination need to be aware of the concepts adopted by each board to be able to answer a question in the general knowledge area.

Another example involves the measurement focus and basis of accounting (MFBA). Only state/local governments use current financial resources measurement focus and basis of accounting. Thus, a candidate needs to understand the difference on transactions when different MFBAs are used.

The Technical Requirements for the CGFM indicates that approximately 60% of the subject matter involves general knowledge, while 20% involves state/local accounting and reporting and 20% involves federal accounting and reporting.

However, because of the different applications of general knowledge as noted above, the answers to general knowledge questions may seem to apply specifically to the state/local or federal area. This gives the impression that state/local or federal questions involve more than the 40% noted in the Technical Requirements.

While this may be the reason why many CGFM candidates consider this exam to be the most challenging, this is also what makes CGFM designation so valuable - it deals with all levels of government and helps candidates see the "big picture" of government financial management and better understand their role in the system.

To help candidates study for CGFM Exam 2, AGA has published a study guide available for purchase through the AGA website at http://www.agacgfm.org/cgfm/prepare/studyguide.aspx (the website also lists other ways to study). Study guides for Exam 1 and 3 are also in the works.

Katya Silver
Director of Professional Certification Administration
ksilver@agacgfm.org
www.agacgfm.org

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February 20, 2004
Training for Government Financial Managers

You are aware of the courses that have been developed for the CGFM training program. However, did you know that the same courses can be used for training government financial managers?  The courses would be of considerable benefit to the following professionals:

• Individuals who are just beginning their career in government.
• Program managers, budgeters, accountants, auditors, and controllers.
• Government consultants.

Course 1 - Governmental Environment - provides education on the environment in which they will work, including how governments are structured and organized, the legal aspects of governments, the management cycle and how the components are related and interrelated, how governments are financed, public accountability, ethics, and various financial management responsibilities and skills.

Course 2 - Governmental Accounting, Financial Reporting and Budgeting - provides education on governmental accounting, financial reporting, and budgeting including influences, objectives, and standards setting; general principles of accounting; cost accounting and performance reporting; budgeting; accounting and reporting for state and local governments; and federal budgeting and financial reporting.

Course 3 - Governmental Financial Management and Control - provides education on government financial management and controls, including internal controls, auditing, performance management and reporting, financial and managerial analysis techniques, cash management, investment management, credit management, procurement management, inventory and supply management, and financial management systems.

Naturally, we would like to see attendees pursue the CGFM certification after they have completed the courses. It could be a very beneficial step for their career and a great way to apply the knowledge learned in class! AGA can arrange to bring the training to your Chapter. Contact Pete Rose, AGA Director of Professional Certification to get more details on sponsoring a training program. Send an e-mail to prose@agacgfm.org.

Katya Silver
Director of Professional Certification Administration
AGA - Advancing Government Accountability
2208 Mount Vernon Avenue
Alexandria, VA 22301-1314
Phone: 703.684.6931, ext. 313
Toll Free: 800.AGA.7211, ext. 313
Fax: 703.548.9367
ksilver@agacgfm.org
www.agacgfm.org

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From: Katya Silver
Sent: Friday, January 16, 2004 6:57 PM

CGFM Renewal

It is the beginning of 2004, and that means your annual AGA/CGFM renewal invoice should soon be arriving in the mail. If you are a CGFM holder, here are a few important reminders about your renewal:

-- CGFM renewal is annual and is due by March 31, 2004.

-- CGFM renewal fee is separate from your AGA dues but is billed on the same invoice. The 2004 CGFM renewal fees are as follows: $30 for AGA members or $65 for non-members.

-- Unless you've already paid your dues for 2004, your annual invoice should arrive in February. If you have recently moved or changed jobs, please update your contact information with AGA national office by calling 1.800.AGA.7211 or through the "Members Only" portion of the AGA website (www.agacgfm.org). Please also contact AGA if you do not receive an invoice by March 15th, 2004.

-- If you company or organization pays for your AGA and/or CGFM dues, please follow up with them to make sure that payment was made.

-- All renewing CGFM holders must be complaint with the CGFM Continuing Professional Education (CPE) requirement of earning at least 80 CPE hours in their two-year CPE cycle, with at least 20 hours in each year. The hours earned must be in government financial management topics or related technical subjects applicable to government financial management areas. For more information on CGFM CPE requirements, please visit AGA website at www.agacgfm.org/cgfm/maintain/.

-- Your two-year CGFM CPE cycle depends on the year your CGFM was awarded:

If you have earned your CGFM in 1994, 1995, 1997, 1999 or 2001, your last two-year CPE cycle just ended on December 31, 2003. If you do not have 80 CPEs in 2002-2003, you can catch up during the grace period of January 1-March 31, 2004. Any hours completed towards a deficiency in one CPE cycle may not be counted towards the next cycle.

If you have earned your CGFM in 1996, 1998, 2000 or 2002, your current CPE cycle is 2003-2004.

-- CGFM holders do not automatically have to send information on their CPE hours to AGA, but need to keep records and complete backup documentation (such as certificates of completion) on all CPE activities for at least three years. This documentation may be requested by AGA if you are selected to be audited.

-- All renewing CGFM holders and AGA members must adhere to the AGA Code of Ethics.

-- Retirement status affects your CGFM renewal. You are considered retired if you have retired from and are no longer substantially working in the government financial management community. Contact the CGFM office to update your status if you have retired (or if you returned to work after being retired).

-- If you have any questions on CGFM renewal, please call the CGFM office at 1.800.AGA.7211, ext. 310 or 313 or send an email to ksilver@agacgfm.org.

_________________________________

AGA Publications update: 

As you may already know, the new year brings some changes in the format of AGA publications. Beginning January 5, TOPICS publication is now released every other Monday morning as an easy-to-read e-mail with no download needed. AGA will no longer produce CGFM TOPICS, but will instead offer regular TOPICS spotlight issues covering the CGFM Program.

If you are not currently signed up to receive TOPICS, you can subscribe on our website - http://www.agacgfm.org/publications/topics/Topics_request.aspx

Katya Silver
Director of Professional Certification Administration
AGA - Advancing Government Accountability
2208 Mount Vernon Avenue
Alexandria, VA 22301-1314
Phone: 703.684.6931, ext. 313
Toll Free: 800.AGA.7211, ext. 313
Fax: 703.548.9367
ksilver@agacgfm.org
www.agacgfm.org

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From: Katya Silver [KSilver@agacgfm.org]
Sent: December 17, 2003 

A Chapter-sponsored CGFM Study Group

Preparing to take the CGFM examinations can be a little intimidating. Have I studied the right material? Have I studied enough? Sometimes it can be helpful to share this experience with others. Chapters can sponsor study groups to lessen the apprehension of the future CGFMs.

All it takes is a person willing to be a facilitator. It is necessary for someone to be the point person and take the lead in scheduling a meeting place and time. The study group can be created in several ways:

• A group can meet regularly for several weeks and have outside leaders or different individuals within the group assigned to lead the discussion over the main points in the technical requirements (found on the CGFM section of AGA's website at www.agacgfm.org/cgfm/exams/) for one or more of the examinations.
• Individuals can purchase the self-study guide for examination 2 (www.agacgfm.org/cgfm/prepare/studyguide.aspx) and then meet together to go over the sections of the book. A self-study guide will soon be published for examination 3. The AGA chapter may provide participants with a refund of all or part of the cost for the books. Self-study guides are $85 each; there are discounts for multiple book purchases - please contact the AGA national office for more information.
•  Individuals can purchase Course 1 presented on the internet (www.agacgfm.org/cgfm/prepare/onlinecourses.aspx). Participants could review the material presented in the online course for each of the main points in the technical requirements for examination 1 and then convene to discuss any issues. The cost of the online course is $195 per individual. The chapter might offer a refund or a scholarship for the course.
• The chapter can put on a one- or two-day course for each of the examinations. The facilitator, in this case, needs to have in-depth knowledge of the subject matter in order to lead the group through the material. Several chapters have prepared their own courses. The chapter can contact the national office for additional information.
• The chapter can arrange for Management Concepts to put on in-depth courses on the material covered by all three examinations. The national office can provide more information on this alternative.

If you are interested in learning more about these options, please contact Katya Silver at the AGA national office at 800.AGA.7211, ext. 313 or ksilver@agacgfm.org.

The chosen method must fit the needs of the individuals and the resources of the chapter. While this discussion has been about preparing for the examinations, the study groups for the books, internet course, and classroom courses also provide valuable CPE for the participants. Putting together study groups does take some time and effort by the chapter, but the chapter provides an extraordinary service to members and the government financial management community. 

Katya Silver
Director of Professional Certification Administration 
AGA - Advancing Government Accountability 
2208 Mount Vernon Avenue
Alexandria, VA 22301-1314 
Phone: 703.684.6931, ext. 313
Toll Free: 800.AGA.7211, ext. 313
Fax: 703.548.9367
ksilver@agacgfm.org
www.agacgfm.org

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11/18/03
Earning a Certified Government Financial Manager (CGFM) designation - a step-by-step guide
Katya Silver

Step 1- Applying for the CGFM Program. Submit an application form for the CGFM Program via internet, fax or mail. The application form is available on the AGA website. The application fee is $85, and you must also fax or mail proof of a bachelor's degree.

Step 2 - Eligibility Letter. Once your application, payment and degree information are received and processed by the CGFM office staff, AGA will mail you an Eligibility Letter with instructions on how to purchase your CGFM Examinations. Your eligibility for taking the CGFM Examinations will expire in three years from the date your CGFM application was processed.

Step 3 - Work Verification. Submit a Work Verification Form as soon as you have at least two years of professional-level experience in the government financial management field. You do not have to submit this form before taking the examinations, but it must be filed before the designation can be granted. The Work Verification Form is available on the AGA website.

Step 4 - Studying for Examinations. You have several options: classroom courses for all three CGFM examinations, an online course for examination 1, a study guide for examination 2 and a reading resources list. You may also want to contact a local AGA chapter to find out if there are any study groups or other support available to help you prepare for the examinations. AGA is working on publishing study guides for examination 1 and 3, which should be available next year.

Step 5 - Exam Purchase. Following the instructions on your Eligibility Letter, purchase CGFM examination(s) on the AGA website and print the Exam Authorization Letter. Examination fees are $109 for each of the three examinations.

Step 6 - Taking the Exam. Follow the instructions on the Exam Authorization Letter to make a testing appointment at a Prometric Center near you. Show up at the testing center on your appointment date (be sure to read and follow the testing procedures described on the Exam Authorization Letter).

Step 7 - Score Reporting. After you complete the examination at a Prometric Testing Center, you will immediately receive an unofficial pass/fail score on the computer. AGA will mail you an official score letter. If you did not pass your exam, there is a 30-day waiting period before you can repurchase and retake that examination. If you fail the same exam more than once, the waiting period is 90 days.

Step 8 - Award Letter. Once you pass all three CGFM examinations, and your Work Verification Form has been submitted to the CGFM Office, AGA will send you an award letter announcing your new CGFM designation.

Step 9 - CGFM Certificate. Wait for your CGFM certificate to arrive in the mail (usually within 6- 10 weeks of receiving the award letter). An excellent source of additional information on the CGFM Program is the AGA website (www.agacgfm.org, select "CGFM Certification" on the navigational bar). If you have any questions, please feel free to contact the CGFM Office at 1.800.AGA.7211, ext. 310 or 313.

Online course offer - until December 31, 2003

AGA is offering a 20 percent discount as a Back To School Special for the Governmental Environment online course. The cost of this online course is $195, but during this special offer you can purchase it for $156. This online course is a value-added resource to the financial management professionals who are interested in learning more about the government environment in which they work. It will also help individuals prepare for the CGFM Examination of the same name. This course is available 24 hours a day, seven days a week from the comfort of home or office and offers 8 CPE hours. To access the course, please visit the AGA website at www.agacgfm.org/cgfm/prepare/onlinecourses.aspx and click on "Register for the Online Course." Hurry - this offer ends December 31, 2003!

CGFM Examinations offer - until December 31, 2003

From now until December 31, 2003 applicants for the CGFM Program have the opportunity to either:

• purchase two CGFM examinations for $196 or three examinations for $294 (they are usually $109 each), or
• purchase any CGFM examination at $109, take it before December 31, 2003, and receive a $20 rebate.

For more information, please visit our website at www.agacgfm.org/cgfm/flyer.aspx. For those people who have not applied yet - encourage them to apply for the CGFM Program now (www.agacgfm.org/cgfm/start/), so that they can take advantage of this offer.

Study guide volume discount for AGA chapters