Treasurers Association of Virginia

TREASURERS’ ASSOCIATION OF VIRGINIA

CERTIFICATION PROGRAM

HANDBOOK FOR TREASURERS

Introduction

The Certification Program advances the professionalism of local government officials and their staffs and is administered by the Weldon Cooper Center for Public Service and the School of Continuing and Professional Studies, University of Virginia, under the auspices of the Treasurers’ Association of Virginia.

This handbook gives complete information on the professional Certification Program for local government treasurers that began in January 1989 and was revised in June 1997, August 2000, August 2003, and March 2005, with the latest revision in May 2010. The latest changes are effective November 16, 2010. Information is also provided on the Career Development Program for treasurers adopted at the 2000 session of the General Assembly. This program was amended on November 27, 2001 and January 22, 2002. It is administered by the State Compensation Board.

The Office Accreditation Program, which was approved at the TAV annual meeting in Bristol, Virginia, in June 2000, is included.

The Certification Program for deputy treasurers is presented in a separate handbook and includes the Career Development Program for deputy treasurers as adopted by the 2004 General Assembly. The funding for the Career Development Program was approved beginning with fiscal year 2006. It is administered by the State Compensation Board.

General guidelines are provided for the Association of Public Treasurers of the United States and Canada’s (APTUSC) certification program for Certified Municipal Finance Administrators (CMFA). This program is administered by the University of Virginia for APTUSC.

General guidelines are provided for the Virginia Government Finance Officers’ Association (VGFOA) certification program for Certified Public Finance Officer (CPFO). This program is administered by the Radford University for VGFOA.

Table of Contents

Certification Program -Treasurers Page 1 I. Purpose of the Program Page 3

II. Designation of Professional Titles Page 3

III. Administration of the Program Page 3

IV. Definitions Page 4

V. General Rules & Eligibility for Certification Page 6

VI. Requirements for Initial Certification Page 6

A. Mandatory Courses Page 7

Exam Retakes Page 7

Course Exemptions Page 7

B. Continuing Education Page 8

Elective Courses Page 8

VII. Requirements for Re-Certification Page 10

Annual Requirements Page 10 Failure to Meet Annual Requirements Page 10 Failure to Meet 4 year Period Requirements Page 11 Continuing Education Point Options Page 11

VIII. Standards for Judging Education Programs Page 14

IX. Presentation of Professional Designation Certificates Page 15

X. Application Deadline & Fees Page 15

I. Purpose of the Program

Certification Program -Treasurers Page 2 The Certification Program is designed to advance the professionalism of the local governmental treasurer and his/her staff in the Commonwealth of Virginia. Local government finance, like other professions, requires special study, knowledge, and skills.

The constituency that is served by the treasurer and his/her staff deserves a high level of professional competence. This Certification Program is designed (a) to set forth regulations and standards that recognize professional attainment, and (b) to meet and update those standards.

The Certification Program will:

 Assure the public of the basic knowledge and competency of the local treasurer

 Assure the local treasurer of reasonable professional recognition

 Assure professional advancement and acknowledgement of the competency of the local treasurer by his colleagues in the field of municipal finance.

When properly implemented, the Certification Program will lead to acceptance as finance professionals by the public, the business community, the academic society, and the field of municipal finance.

II. Designation of Professional Titles

A professional Certification Program is hereby established. Treasurers completing the Certification Program shall be designated as Master Governmental Treasurer, MGT.

III. Administration of the Program

The Certification Program shall be administered by the University of Virginia’s Weldon Cooper Center for Public Service and the University’s School of Continuing and Professional Studies under the auspices of the Treasurers’ Association of Virginia.

The Association, in conjunction with the Center, shall prescribe the standards treasurers in Virginia must meet in order to be recognized as Master Governmental Treasurer.

All records of the Certification Program shall be kept at the Weldon Cooper Center for Public Service at the University of Virginia. All correspondence dealing with the Certification Program should be directed to the designated Center staff member.

The Center shall also be the official record keeper, responsible for maintaining accurate, updated records for use by the membership of the association. The records will remain the property of the Association.

Certification Program -Treasurers Page 3 The Certification Review Committee is a standing minor committee consisting of three (3) members appointed by the President of the Association. The Committee is responsible for reviewing and approving all applications for certification and re-certification, and for hearing appeals of decisions on certification and re-certification.

IV. Definitions

As used in this set of regulations and standards, unless the context clearly shows otherwise, these terms or phrases have the following meanings:

Application Form:

A form to be completed and sent to the Center once the participant has met the requirements to be certified or re-certified

Association:

Treasurers’ Association of Virginia, also referred to as TAV

Center:

Weldon Cooper Center for Public Service at the University of Virginia

Certification Year:

Period from November 16 to November 15 of the following year

Deputy:

Chief Deputy and any other employee designated as a Deputy by their Treasurer; must have been duly sworn by the Clerk of the Circuit Court of the locality

Elective Courses:

Include, but are not limited to TAV elective courses shown in full on page 8, other new TAV courses as developed, as well as approved VGFOA and Commissioner of the Revenue courses

Enrollment Form:

Certification Program -Treasurers Page 4 A form to be completed and sent to the Center in order to begin participating in the Certification Program

Liaison:

The following liaison positions are given like recognition as minor committees: National & State Associations Liaison (e.g. APTUSC, NACCTFO, VALECO, VACo, VML, VGFOA, Commissioners of the Revenue Association of Virginia), State Government Liaison (e.g. Auditor of Public Accounts, Compensation Board, Department of Taxation, DMV, State Treasurer, Office of the Attorney General)

Major Committees:

Annual Conference, Public Relations, Education Oversight, Curriculum, Continuing Education, Futures, Accreditation, Innovations & Technology, and Legislative Committees

Mandatory Courses:

Courses required to be taken and examination passed in order to partially meet the full requirements of initial certification. Please see mandatory course listing (Section VI, Part A).

Minor Committees:

Auditing, Certification Review, Career Development Audit, Awards, Constitution and By- laws, Directory, Ethics, Membership, Nominating, Resolutions, Statistical Abstract, Retired Treasurers, and Town Treasurers Committees

Member in Good Standing:

A member is considered to be “in good standing” if Association membership dues are kept current annually and there have been no material findings from a complaint reviewed by the Ethics Committee

Officer Class

Allows current serving Officers to receive CE credit for their time serving the Association in fulfilling the duties of office. Rewarded during the service year only.

Related Fields:

Certification Program -Treasurers Page 5 Accounting, finance, banking, legal administration, government, political science, public administration, and/or business administration

Treasurer:

City, county, or town treasurer, or director of finance in those localities where the director is charged with the same duties as a treasurer and where the director of finance believes in the principles set forth in the Constitution of the Treasurers’ Association of Virginia, Article II: Objects and Definitions

V. General Rules & Minimum Criteria for Certification in order to qualify for certification and to maintain certified status, treasurers must meet the following minimum criteria:

 Be an elected or appointed official

 Must have been a member of the Association for at least two years prior to the time of application for certification and remain a member in good standing

 Must believe in and practice the Code of Ethics of the Association

 Enroll in the program by submitting a completed enrollment form to the Center and paying the $75.00 enrollment fee

 Once the educational requirements in Section VI have been met, must submit a completed certification application form to the Center and pay the remaining certification fee VI. Requirements for Initial Certification

In addition to meeting the general rules and minimum criteria for certification in Section V, treasurers must meet the following educational requirements:

 Earn 70 points/credits from Parts A and B of this section

 All 8 mandatory courses must be completed (includes taking and passing the exam)

November 15 is the cut-off date to meet the initial certification requirements in any given year. There is no time limit to achieve initial certification. Participants may take as long as necessary to complete the initial certification requirements. The points earned for certification, as outlined in Parts A and B, below can only be earned beginning July 1, 1988.

Certification Program -Treasurers Page 6 On November 15 of each year, the Center generates a list of those treasurers who meet the certification requirements. The Certification Review Committee is responsible for reviewing and approving each application for initial certification. Treasurers approved by the Certification Review Committee are considered certified as of November 15 of that year. After approval by the Committee, the list of certified treasurers will be released to the membership. Appeals concerning decisions of the Certification Review Committee must be made to the Committee within fifteen business days of publication of the list of certified treasurers.

Part A – Mandatory Courses

Auditing & Internal Controls

Bankruptcy

Banking & Cash Management

Delinquent Collections

Investment Management

Intermediate Governmental Accounting

Lawful Employment

Roles & Responsibilities of the Treasurer

Treasurers will earn 4 continuing education points for each mandatory class completed. Once all 8 classes have been taken and passed, the treasurer will have earned 32 points towards the 70 points necessary for initial certification.

Exam Retakes

If a participant fails an exam, he/she may retake the exam once at no additional charge. If failed a second time, the participant must retake the course. After the initial course attendance, the registration fee for the same course will be set to cover the cost of meals and updated course materials only.

Course Exemptions

There are no course exemptions at this time. Part B-Continuing Education

Certification Program -Treasurers Page 7 Treasurers will earn the remaining points needed to reach a minimum of 70 points required for Certification by attending TAV conferences and meetings, TAV elective courses, affiliated associations’ classes, and events and other approved training.

TAV Conferences and Meetings

Members may earn continuing education points by attending the following:

1. Treasurers’ Association Annual Conference [7 to 9 points]

2. Annual Continuing Education Conference [6 to 8 points]

3. Spring & Fall District Meetings [5 to 7 points]

4. Other conferences approved by the Certification Review Committee [varies]

TAV Elective courses:

Elective courses are typically 1 point per course hour unless otherwise indicated.

Advanced Cash Management

Advanced Governmental Accounting

Budgeting

Business Ethics

Community Planning

Customer Service

Effective Leadership

General Technology

Introductory Governmental Accounting

Issuing Debt and Debt Management

Spanish for Government Officials

Other new courses as developed

The Curriculum Committee has approved most VGFOA and Commissioner of the Revenue courses as electives; however, the participant should verify with the Center if a class is not on this list.

Certification Program -Treasurers Page 8 Training

1. Compensation Board’s New Officer Training [8 to 12 points]

2. Other Compensation Board Sponsored Training [4 to 8 points]

Meetings

For credit to be awarded for the following meetings, a copy of the agenda and proof of attendance must be submitted to the Center. Examples of proof of attendance would be a sign- in roster supplied by the sponsoring organization or a certificate of attendance.

1. Regional district meetings (e.g. NOVA, Tidewater, Southwest Virginia Clerks & Treasurers’ Association [Varies]

2. VALECO annual meeting [1 point]

3. VGFOA, GFOA, APTUSC, or NACCTFO annual, state, province, or regional conferences [Varies]

4. Other meetings approved by the Certification Review Committee [Varies]

The participant should verify with the Center that the following will qualify for credit before taking the class. Proof of attendance will be required before credit will be granted.

1. Class in the field of money management-1 point per credit hour

2. Class in the area of social and interpersonal concerns-1/2 point per credit hour

3. Class in the field of computers and software-3 point maximum per class

4. Other training offering CPE credits Initial Certification – upgrade from Deputy to Treasurer

In order for a Master Government Deputy Treasurer to upgrade to a Master Government Treasurer they must become an appointed or elected Treasurer and take and pass the exams for all missing required mandatory courses as well as earn an additional thirty five (35) points.

Certification Program -Treasurers Page 9 VII. Re-Certification

The re-certification process takes place over a 4-year period with annual continuing education requirements. Annual requirements must be met by November 15 of the year.

On November 15 of each year, the Center generates a list of those treasurers who meet the annual and 4 year re-certification requirements. The Certification Review Committee is responsible for reviewing and approving each application for re-certification. Treasurers who are approved by the Certification Review Committee are considered certified as of November 15 of that year. After approval by the Committee, the list of certified treasurers will be released to the membership. Appeals concerning decisions of the Certification Review Committee must be made to the Committee within fifteen (15) business days of publication of the list of certified treasurers.

Requirements

Treasurers seeking re-certification are required to achieve a 4-year period cumulative continuing education point’s total of eighty (80) or above. At least 50% of all period required points for re-certification must come from TAV sponsored programs.

Participants are also required to meet cumulative minimum requirements for continuing education points each year while working toward re-certification. The point levels are established on a tiered basis. Points earned over the minimum tier for each year will carry over to help the participant meet the following year’s requirements:

Year 1 12 continuing education points

Year 2 24 continuing education points (cumulative between years 1 & 2)

Year 3 40 continuing education points (cumulative between years 1, 2, & 3)

Year 4 80 continuing education points (cumulative for all 4 years)

Participants are allowed to roll over accumulated points in excess of the 4 year re-certification requirement from one re-certification period to the next up to twenty (20) points (25% of the 4- year requirement). For example, if a treasurer has earned 90 points at the end of the 4 year re- certification period, ten (10) points will be carried over to the next re-certification period. Please note, no points are allowed for rollover from initial certification. Failure to meet the annual requirements

If a participant does not earn the required minimum number of points for a given year, he/she will be “suspended” from certified status and may lose career development funding as a result. In order to be reinstated, the participant will need to reach the next tier of points by November 15 of the next year. For example, if a treasurer has not earned twelve (12) points by November

Certification Program -Treasurers Page 10 15 of Year 1, he/she would be suspended from certified status. In order to be reinstated, the treasurer would need to have earned twenty four (24) points by November 15 of Year 2.

Failure to meet the requirements at the end of the 4-year period – “rolling window” reinstatement procedure

If the participant fails to meet the continuing education point’s requirement at the end of the 4- year period, he/she will be suspended from certified status and may lose career development funding as a result. The participant will then be subject to a “rolling window” reinstatement procedure. The 4-year re-certification window will automatically become the last 4 years. As of November 15 of the next year, the participant’s points for the current year and the 3 years prior will be reviewed. If the participant meets the re-certification requirements at that time, he/she will be considered re-certified and will begin the process of re-certifying again from the beginning. If the participant does not meet the re-certification requirements, the rolling window would then be shifted to the next year, and again, points for the then current year and the previous 3 years will be reviewed.

Please note: Once Career Development funding has been lost as a result of certification suspension, it will not be automatically reinstated. The treasurer will be placed back in the queue to receive funding as it comes available.

Continuing Education Point Options

TAV/VGFOA/Compensation Board Courses

All courses are typically 12 points or 1 point per credit hour unless otherwise posted.

Please remember that exams are required for initial certification and for all online courses. Exams are not required when taken for re-certification however, you will receive 1 additional point for taking the exam and 1 more additional point for passing the exam.

Current serving Officers of the Association qualify for the Officers Class and receive six (6) CE credits toward recertification for the year they are serving.

Classes can be retaken for credit as long as 4 years has lapsed between enrollments.

TAV/VGFOA/Comp Board Courses Continuing CE points CE Points plus Education Points with Exam Passing Grade

Advanced Cash Management 12 13 14

Advanced Governmental Accounting 12 13 14

Auditing & Internal Controls 8 9 10 Certification Program -Treasurers Page 11 Bankruptcy 10 11 12

Banking & cash Management 12 13 14

Budgeting 10 11 12

Business Ethics (on line only) 8 9 10

Cash Management (prior to 2010)* 12 13 14

Community Planning 8 9 10

Customer Service 8 9 10

Delinquent Collections 12 13 14

Effective Media Relations 8 9 10

General Technology 8 9 10

Intermediate Governmental Accounting 8 9 10

Introductory Governmental Accounting 8 9 10

Investment Management 12 13 14

Issuing Debt and Debt Management 12 13 14

Lawful Employment 8 9 10

Leadership 8 9 10

Roles & Responsibilities of the Treasurer 10 11 12

Spanish for Government Officials 10 11 12

VA Government & Law 8 9 10

TAV Officer Class - President, President Elect, 6 6 6 1st VP, 2nd VP, Treasurer, Secretary

*Cash Management was split into two courses in 2010: Banking and Investments.

TAV Conferences and Meetings

1. Treasurers’ Association Annual Conference [7 to 9 points]

Certification Program -Treasurers Page 12 2. Annual Continuing Education Conference [6 to 8 points]

3. Spring & Fall District Meetings [5 to 7 points]

4. Other conferences approved by the Certification Review Committee [varies]

Training

1. Compensation Board’s New Officer Training [8 to 12 points]

2. Other Compensation Board Sponsored Training [4 to 8 points]

Meetings

For credit to be awarded for the following meetings, a copy of the agenda and proof of attendance must be submitted to the Center. Examples of proof of attendance would be a sign- in roster supplied by the sponsoring organization or a certificate of attendance.

1. Regional district meetings (e.g. NOVA, Tidewater, Southwest Virginia Clerks & Treasurers’ Association [Varies]

2. VALECO annual meeting [1 point]

3. VGFOA, GFOA, APTUSC, or NACCTFO annual, state, province, or regional conferences [Varies]

4. Other meetings approved by the Certification Review Committee [Varies]

College and University Courses in the following concentrations:

1. Management

2. Accounting

3. Public Administration

All others may be submitted to the Curriculum Committee Chairperson for approval.

Certification Program -Treasurers Page 13 The participant should verify with the Center that the following will qualify for credit before taking the class. Proof of attendance will be required before credit will be granted.

1. Class in the field of money management-1 point per credit hour

2. Class in the area of social and interpersonal concerns-1/2 point per credit hour

3. Class in the field of computers and software-3 point maximum per class

4. Other training which offers CPE credits

VIII. Standards For Judging Education Programs

The following guidelines must be met for continuing education credit to be recognized:

1. Educational programs should be supervised by an accredited institution of higher learning or by a government agency. Programs offering CEUs should also be approved by an accredited university or college.

2. Attendance at class sessions is required of all students enrolled. Attendance rosters and/or similar forms shall be used for keeping accurate attendance records. No credit for attendance will be given for a certain activity unless the session is attended in its entirety.

3. The contact hours (number of clock hours spent in instruction) shall be distributed over the major curriculum areas as follows:

a. At least 50% of the hours should be in public finance administration, including governmental accounting, investing, budgeting or duties related to the Treasurer’s Office.

b. The remaining hours, if any, should be in areas of social and interpersonal concerns, such as:

Written and oral communications

Personnel management, including individual motivation & work production

Human relations

Certification Program -Treasurers Page 14 Office programming & management

Community & public relations

Personal growth & development of the treasurer

The treasurer in the government environment

Ethics in government IX. Presentation of Professional Designation Certificates

Once the treasurer has met all of the requirements for certification or re-certification, an appropriate certificate shall be presented to him/her from the Association and the Center. Certificates for initial certification will be presented at the Spring District Meeting the following year. Certificates for re-certification will be mailed to the qualified recipients following approval of the list by the Certification Review Committee. X. Application Deadline & Fees

Applications for certification must be received at the Center by November 15 to ensure adequate time for review by the Certification Review Committee.

Initial Certification

Original amount due $250.00 Less: Deposit at enrollment - 75.00 Net amount due at certification $175.00

Re-Certification

Amount due at certification $125.00

Certification Program -Treasurers Page 15