Author: Margaret Moggia

The scholarship is available to active CSMFO and national GFOA members who are not currently enrolled in the CPFO program. The scholarship will cover the $1,200 fee for two years of participation in the CPFO program. It includes ten exam attempts and access to a CPFO Exam Prep product with over twenty recorded seminars. A CPFO scholarship recipient who does not finish the program within two years will need to pay $600 per year until they pass all of the exams. A candidate is allowed a maximum of five years to complete the program. Any ongoing costs of the program are to be borne by the recipient. CSMFO and GFOA are not responsible for continued costs to participate.

The CPFO Program for GFOA members is a broad educational program designed to verify knowledge in government finance disciplines. To earn the CPFO designation, candidates must pass a series of seven examinations covering the major public finance disciplines. A candidate has five years in which to complete the program.

Examination Areas:

• Accounting and Financial Reporting
• Treasury and Investment Management
• Debt Management
• Planning and Budgeting
• Compensation and Benefits
• Procurement
• Risk Assessment

 
Once earned, the CPFO designation is maintained by paying an annual membership fee and participating in fifteen hours of continuing professional education and three GFOA Engagement
Credits each year. More information about the CPFO Program can be found at Certified Public Finance Officer (CPFO) (gfoa.org).
 

Testimonials

“As an accountant looking forward to future promotional opportunities, I found the CPFO program helpful to me in building my knowledge in other local government finance disciplines, such as purchasing and risk management, in which I had previously had less exposure. I found the GFOA reading materials easy to read and the exams to align well with the recommended reading material. I recommend the CPFO program to CSMFO/GFOA members looking to broaden their knowledge base and earn a certification valued in our profession.”

 - Dennis Kauffman, City of Roseville
 

“The CPFO program is much more than a certification. It provides invaluable skills such as specialized financial knowledge, problem-solving, time management, adaptability, and networking opportunities with other professionals in the field. The resources and insights gained through the program have been instrumental in both my career and personal development.

For those looking to elevate their expertise in public finance, I strongly encourage you to consider pursuing the CPFO certification. Not only will it strengthen your technical and leadership abilities, but it will also open doors to greater opportunities to make a meaningful impact in the communities we serve."
- Jennifer Ustation, City of Beaumont
 

Scholarship Process

To be considered for the scholarship, the applicant must be able to satisfy all of the requirements listed below:

1. CSMFO Member
2. GFOA Member
3. Local Government Experience – minimum of 2 years
4. Submit Resume
5. Completion of Personal Statement of Interest Deadline to submit your application is March 28, 2025.

Award of scholarship is based on one’s ability to meet the requirements. All confirmed applicants will then be entered into a random drawing for final selection.

To be considered for the scholarship, applicants must be an active member of both CSMFO and GFOA with two years local government experience and submit an application at the following link: CPFO Scholarship Application

For the four recipients of the scholarship, CSMFO would gain value from your experience if you would share your experience with the CPFO program through a co-written article for CSMFO News.