Chief Financial Officer (CFO)

Established in 1998, the MSBO Voluntary Certification Program supports the ongoing professional development of school business officials. The program is a mark of distinction that reflects professional achievement and demonstrates a person’s dedication to his/her profession.

Benefits of Chief Financial Officer Certification

The Chief Financial Officer (CFO) certification:

1. provides access to information and training that is specific to Michigan law and regulation; and

2. provides a basis for advancing professionalism of Chief Financial Officers in Michigan schools.

The CFO Program

MSBO certification courses provide a great deal of information in a short time. Most courses are “bulleted” information rather than in-depth training. They are intended to cover major points about their respective topics, offer an opportunity for questions and discussion, and provide resource information for future use.

The recommended beginning course for Chief Financial Officer certification is Introduction to School Business. Although anyone may benefit from this or other individual certification courses, the full program is generally intended for Chief Financial Officers in their first 1-5 years of employment. However, any person employed in school business operations who meets the stated requirements may receive Chief Financial Officer certification. There is no requirement for holding a particular position in a school district.

Requirements

This program and the courses listed have been created and reviewed by the Professional Development Committee of MSBO. An applicant for certification must be an active or contract associate member of MSBO, and hold a Bachelor’s Degree including 18 semester hours of accounting.

Read the reverse side of this sheet for brief descriptions of certification courses that are offered through MSBO. In some circumstances courses from other sources may be counted toward MSBO certification. Please be aware that some courses and/or requirements may change. MSBO and the committees that created this program continue to evaluate and make minor modifications as deemed appropriate.

Chief Financial Officer (CFO) Course Descriptions

MSBO’s Certification Program Benefits:

  • Provides access to information needed to succeed in your job
  • Offers practical overviews of key areas of law, regulations and practices
  • Identifies resources for in-depth and additional information that may be utilized at a later time
  • Assures a quality curriculum is developed and monitored by the MSBO Professional Development Committee
  • Uses experienced practitioners to teach classes
  • Offers seminars at regular intervals and reasonable prices
  • Uses adult learning principles and provides a learning environment where colleagues can share experiences and information

Questions?

Contact Courtney Byam at 517.327.5937; or Debbie Kopkau at 517.327.2587.

Bonding/Borrowing/Investing (3 hours): Examine legal and practical issues relating to how school districts bond, borrow, and invest funds. Get an overview of cash flow analysis, arbitrage, and general borrowing and investing options.

Cash Management (3 hours): Learn how to develop specifications for the selection of banking and other financial services; apply concept of compensating balances; comprehend procedures and legal constraints for cash collection and disbursement; analyze monthly internal transfers and loans; prepare a cash flow analysis, including a fund balance report for the board of education; and identify and deal with fraud and abuse.

Collective Bargaining Agreement, Contracts (3 hours): Learn how to interpret bargaining agreement language, understand leave benefits, grievance procedures, as well as an overview of union dues and political deductions and non-deductions. Learn how to administer overtime, FMLA, and FLSA. Also gain knowledge of the difference between an independent contractor vs. an employee.

Certification Tracks

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