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.
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.
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.
Chief Financial Officer (CFO) Course Descriptions
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.
Effective Communications (3 hours): Learn techniques and strategies to send clear messages, create credibility, and develop strategic communications programs that are effective for your school district.
Facilities for the Business Manager (3 hours): Understand the basic structure and function of building, grounds and maintenance operations as well as the planning of maintenance programs. Learn about laws relating to school construction, environmental regulations, and what to expect from your facilities director.
Food Services for the Business Manager (3 hours): The basic structure and function of a food services program, food safety issues, vending and contracting for food services, and cooperative ventures.
Human Resources for the Business Manager (3 hours): Understand the basic concept of hiring, recruiting and interviewing. Learn techniques and best practices that you can apply to employee orientations. Learn about the importance of maintaining personnel records to protect both the employee and employer in the event of personnel file information requests. Employee handbooks and acceptable use policies will be covered, as well as details on the Freedom of Information (FOIA), Family Medical Leave Act (FMLA), and Fair Labor Standards Act (FSLA).
Instructional Program Evaluation (3 hours): Understand the components of instructional programs; learn how to develop procedures for evaluating and reporting cost-effectiveness; analyze economics; use evaluation data; and allocate resources to improve instructional programs.
Insurance and Risk Management (3 hours): Review of the insurances necessary for school operations with a primary focus on: Worker’s Compensation, cafeteria plans, property/ casualty, health insurance, liability insurance, errors and omissions, and methods of risk management. A portion of the program would be devoted to understanding options for purchasing insurance: pools, cooperatives, private vendors, and self-insurance.
Introduction to School Business (14 hours): An overview of school business operations with a focus on several key areas. The program will begin with a brief background on the general functions of the school Chief Financial Officer (CFO). Major components of the program will include: listing and describing reports that must be filed with federal, state, and local agencies; reviewing school laws and the Revised School Code; introducing fund accounting processes; reviewing school organizational issues and operational issues (how school boards and administrators function); and exploring interrelationships between the business office and site operations–offices in school buildings, facilities, transportation, and food services. Part of the program would be devoted to discussion about the roles and functions of the school business official.
Labor Relations/Employment Law (6 hours): Understand the major state and federal employment laws that apply to public schools. Learn about collective bargaining, wage and hour, discrimination, COBRA, Family Medical Leave Act and other state and federal retirement issues.
Payroll and Related Personnel Issues (3 hours): Understand the laws and regulations related to payroll function, including state and federal payroll laws and regulations, pertinent tax regulations, employee retirement plans, practical aspects of completing a payroll, and electronic check deposits.
Preparing Your Financial Picture (12 hours) (formerly Revenue, Expenditures, and Budgeting Part I and II): A chief financial officer’s predominant job focus is preparing, managing, and executing a school district’s budget. Understand the application of enrollment projections, budget assumptions in developing a budget as well as major revenues and expenses that comprise a school budget. Learn practical ways to amend budgets, presentation of budgets to staff, the board of education, and community. Group work will focus on building a budget, sharing details, and simulating board and community presentations of a budget. Details of a school district’s yearly audit process will also be highlighted.
Principles of Education (3 hours): Understand the educational process, culture of schools, major learning theories, teaching methodologies, school improvement, design of in-service programs,and the structure and function of the principalship.
Property Tax Overview (6 hours): With the ever-changing environment of property tax laws, rules and regulations, do you have the latest information? Learn the basics of how property taxes affect your district’s funding, as well as a more advanced look at specific tax and other tax financing methods. Forms used for levying your district millages, how the levy impacts the State Aid calculation and details on how to reconcile your overall tax revenues is part of this workshop. Presenters include property tax experts and school practitioners and content is geared for both K-12 and ISDs.
Purchasing Overview (3 hours): Learn the basics of performing purchasing functions, including related Michigan laws, the structure of a purchasing operation, electronic and cooperative purchasing, bidding, reviewing contracts, lease-purchase options, and “partnerships.”
Strategic Planning (3 hours): A strategic plan helps a district achieve its mission and goals. Learn to identify short- and long-term goals in all areas of school district management. Explore the development of strategic, financial goals by examining current research, best practices, and data sets. Also, learn how to create a budget to meet these goals. Learn how to facilitate the strategic planning process and assist in the implementation, monitoring, reporting, evaluation, and revision of a strategic plan.
Team Leadership (3 hours): Learn how to match your leadership style with the culture of the organization. Matching leadership style to the cultural landscape will allow you to increase your productivity, decrease communication problems and strengthen your conflict management skills.
Technology for the Business Manager (3 hours): Learn how to develop long range technology planning, while assigning appropriate specifications for technology purchasing. Other topics include: technology infrastructure contracting for the school district, evaluating the cost benefits of producing information in relation to organizational value, and ensuring that appropriate security is maintained.
Transportation for the Business Manager (3 hours): The basic structure and function of a transportation department, equipment supply and purchase, and laws related to transportation.
Wrap-up/Ethics (2 hours): Celebrate completion of your certification program! Reflect on what you have learned and your role in the educational process and your school district. This class can be taken only if you are two classes or less from completing your certification (not counting the Wrap-Up/Ethics Session).