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Weekly UpdatesGFOA's Certified Public Finance Officer program continues to grow and generate interest from the membership. Since the first examination in 1997, 260 individuals have passed all five examinations required to achieve the CPFO designation. An additional 360 individuals are in the process of becoming certified. GFOA introduced the exams over a five-year period, graduating the first class of CPFOs in 2001.
A recent survey of CPFOs underscored the benefits of the program. "It is the only designation with a clear focus on the body of knowledge particularly significant to the public finance officer," said one CPFO. "It is an excellent program that provides an incentive and a means to upgrade one's knowledge in a broad range of important areas that a finance officer may not necessarily be exposed to on a day-to-day basis. Earning the designation or even partially completing the program can only help one's career."
Many of the respondents indicated that earning the CPFO designation advanced their careers and enhanced their knowledge and skills. "Everyone who plans on staying in the public arena in a financial capacity should make the effort to complete this program," said another graduate of the program. "I believe I am better prepared to do my job having gone through the CPFO program. While the recognition is nice, the knowledge gained is more than worth the effort." One respondent went so far as to say that the CPFO designation was more relevant than the CPA designation.
The majority of participants are mid-career professionals. Thirty-five percent hold a bachelor's degree, 28 percent a master's degree, and 24 percent are CPAs. The respondents reported spending 20 hours or more preparing for a single certification exam.
CPFOs must earn 30 hours of continued professional education each year to maintain their certification. This requirement ensures that the government finance field will continue to advance and provide the best quality leadership to the communities CPFOs serve.
The next scheduled examination date for the CPFO program is June 11 in Milwaukee, Wisconsin, in conjunction with GFOA's annual conference. For details on the program, download the Candidate's Guide and application from GFOA's Web site (www.gfoa.org).
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