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Building the Next Finance Director

• Diane Reichard, City of Temple Terrace• Mark Fostier, Orange County Comptroller’s

Office• Binh Nguyen, Lake County BCC• Jamie Roberson, Osceola County –

Property Appraiser• Mary-Lou Pickles, St. Johns River

Management District

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• Technically qualified and accurate• Objective• Provide clear and concise

communication• Be flexible and compromisable• Globally focused• Honest and up front• Sense of humor

City Manager Qualifications in a Finance Director

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• Strategist• Translator• Leader• Technical Generalist• Facilitator

CFO Skill Set

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• Understand problems and their implications

• View organization at the 10,000 foot level

• Consider other alternatives• Take on new projects, be a go-to

person

Strategist

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• Use performance measures to provide information to CEO

• Be a good listener• Enhance critical thinking that leads

to consensus• Align solution with CEO’s strategy

Translator

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• Motivate people• Improve interpersonal

communications

“Motivation is the art of getting people to do what you want them to do because they want to do it.“ – Dwight Eisenhower

Leader

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• Expand knowledge to know a little bit about a lot

• Know when and how to ask questions

“Knowledge is of two kinds; we know a subject ourselves, or we know where we can find information upon it.” – Samuel Johnson

Technical Generalist

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• Good ideas come to die in accounting

• Be a proactive problem solver• Respect others and their ideas

Facilitator

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• A Case Study

FGFOA Mentoring Program

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• Strategic Goal• Objectives• Actions

FGFOA Mentoring Work Plan

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• To be a Finance Director for a city or county government

Strategic Goal

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• Increase governmental accounting and finance knowledge through job shadowing opportunities and additional education and certification

• Expand professional contacts and networking opportunities to broaden information sharing possibilities

• Increase participation in FGFOA and the Central Florida Chapter

Objectives

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• Participate in job shadowing opportunities with the Comptroller’s Office in the following functional areas:• Accounting (general ledger/budgetary

accounting; CAFR preparation; grants accounting; MSTU accounting)

• Treasury (investments; cash management; debt issuance and administration)

Actions

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• Participate in job shadowing opportunities with the Comptroller’s Office in the following functional areas:• Accounts Payable (preaudit function;

quality control; contracts administration)• Payroll (preaudit function; union contract

administration; benefits administration)• Information Systems – Advantage

Financial System and Oracle/PeopleSoft HRIS (functional responsibilities; system upgrades and support; system implementation)

Actions (Continued)

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• Complete a college level governmental accounting course

• Obtain GFOA’s CPFO certification• Pursue becoming the 2012 FGFOA

Conference Host Committee Chair• Serve on an FGFOA committee each year

with the intent of serving two years and becoming the Chair in the third year

• Serve as a Director of the Central Florida Chapter

• Serve as a Director of the FGFOA

Actions (Continued)

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• Prepared well for all job shadowing opportunities

• Preparation in relation to CFO Skill as a Technical Generalist

Preparation

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• Networking in relation to CFO Skill as a Facilitator

• Volunteer with professional organizations

Get Involved

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• Planning and organization are important management skills

• Self motivation is a crucial skill for success

Motivation

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• Special Projects• Learn other aspects of your

organization• Don’t limit yourself to the financial

function

Strategist

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• Special Projects• Translation of strategy into a

measurable and accountable plan

Translator

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• Motivation of the stakeholders• Understanding the stakeholders

in the organization both external and internal and having the ability to motivate them

Leader

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• Specialization vs. experience in various functions of the organization• Do not limit yourself solely to the

numbers. All functions within an organization impact the numbers. If you understand various aspects of the organization, it will allow you to become a better CFO or Finance Director

Technical Generalist

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• Finance Office deemed as ‘gloom & doom’

Facilitator

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• Strategist• Translator• Leader• Technical Generalist• Facilitator

CFO Skill Set

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• Curiosity and Opportunity have No Limits!

• Edison said – Good things happen when opportunity meets a prepared mind.

Closing Thoughts

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• Edison said – Good things happen when opportunity meets a prepared mind.• Can’t be satisfied with the status

quo• The CGFO program provides

career-building value

…And also Opening Thoughts

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• The original examination was purchased from the Government Finance Officers Association of Texas in 1990

• The first CGFO examination was given in the early 1990s

CGFO Background Information

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• Evaluates and administers the semi-annual certification examinations

• Monitors requirements for reporting continuing professional education

• Future projects include exploring on-line feasibility for review courses and exams

CGFO Certification Committee

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• Encourage a level of knowledge and professionalism in the field of government finance

• Encourage development and maintenance of professional competence for practicing governmental finance officers

CGFO Program Purpose

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• Active FGFOA member• Bachelor’s degree in accounting,

public or business administration or a closely related field

• Three years government work experience

• Two letters of recommendation• Accept the FGFOA Code of Ethics

Minimum Qualifications

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• Pass* an open book Ethics Exam• Pass* all five sections of the

CGFO examination in five years

* Achieve a minimum score of 75 percent

.

Achieving Your CGFO Designation

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• Review Sessions - Offered at the School of Governmental Finance

• Strategies• Reference Materials

• http://www.fgfoa.org/CGFOprogram

CGFO Exam Preparation

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• Are offered twice a year in November at the School of Governmental Finance and in the spring (usually in March) at various locations throughout the state depending on demand

.

CGFO Examinations

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CGFO Examination Contents – Accounting & Financial Reporting

Description Percent Accounting / Internal Control / Capital Assets 30%

Financial Reporting (Internal & External) 30% Auditing 15% State of Florida Policies & Regulations 15% CAFR Award 10%

100%

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CGFO Examination Contents – Debt Administration

Description Percent Issuance / Refunding 35%

Players and Roles 10% Debt Structuring & Financing Methods 20% Rating Process 10% Policies and Regulations 20% Derivative Related 5%

100%

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CGFO Examination Contents – Financial Administration

Description Percent Pension Benefits 25%

Risk Management 15% Management Principles 15% Purchasing / Procurement 15% Information Systems 15% Grant Administration & Audit Selection 5%

100%

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CGFO Examination Contents – Municipal Budgeting

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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CGFO Examination Contents – Treasury Management

Description Percent Investment Policy & Regulations 40%

Investment Types 15% Ratings & Duration 10% Collections / Receipts / Cash Flow 15% Managing Banking Services 20%

100%

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• You will distinguish yourself as a business professional who is committed to a strict code of ethics

• You will demonstrate your commitment to personal professional development and lifelong learning

How does the CGFO Designation Benefit YOU?

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• You will confirm substantial knowledge of accounting, finance, and important related fields specific to local governments

• Opportunity to assess and demonstrate your capabilities and expand your knowledge base

How does the CGFO Designation Benefit YOU?

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• Recognition of achievement• Expanded career opportunities• Personal Satisfaction

• Enhance your self-confidence, your sense of accomplishment, and your resume

How does the CGFO Designation Benefit YOU?

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Take the Challenge!“Every mountain top is within reach

if you just keep climbing” – Barry Finlay

“All of life is a constant education” – Eleanor Roosevelt

What are you waiting for?

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• Questions?• Additional Information

• www.fgfoa.org• mpickles@sjrwmd.com

CGFO Program