Becoming A Public Sector CFO

Municipal finance professionals are an eclectic mix of individuals with various backgrounds. While there are professional organizations like the Government Finance Officers Association and state associations that provide support and training, most of the training is not received through university education, but through practical experience. Public accounting is not taught thoroughly in public universities and without knowledgeable professionals, public entities are struggling to file reports in a timely manner. 

Before I became a Finance Director in a City of 100,000 plus in population, I was questioning whether I had the skills to do what needed to be done. I called an auditor that I worked with to ask his opinion on whether I had the skills, he was kind and gracious with his observances but told me just to fake it until you make it.

 Much of this unfortunately is true, especially when first starting in smaller entities where you may have had direct experience in accounting or budget in a larger entity but lack skills in other areas. You are suddenly put in a position where you are supposed to be an expert in treasury management, debt management, or purchasing with no relevant experience.

 Without the necessary skills and expertise, you might end of just doing what was done previously since those skills have not been learned. Smaller entities have limited capacity to send people to training, resulting in the lack of education needed to improve operations. Research, educational opportunities and training are out there to help, but at times we are also limited in our capacity to improve because of the many hats you wear.

 I hope you find this account and realize you are not alone and surrounded by many professionals who have the same struggles. This is account is geared for you. You will find practical advice, specific to industry challenges with a personal touch based on relevant experiences.

My goal for Munifi CFO Chronicles is to educate, inform and provide valuable insights to public sector CFOs of today and tomorrow. This is not classroom information, but experience from the trenches.

Here’s what you can expect from me:

• Weekly newsletter

• Less than 5-minute read

• Weekly review of best practice

•  News from the field

•  Practical items

• Easy and fun to read

We will be reviewing best practices in the industry and exploring how they apply in our day-to-day duties. I look forward to the journey, the feedback from the industry and thoughts for how we can improve our overall experience.