This series of courses is designed to train municipal and county finance personnel in the responsibility of everyday fiscal operations. All eight courses are required for the state designation of Certified Municipal Finance Officer (CMFO). The Municipal Finance Administration course is required for the designation of Registered Public Purchasing Official/Specialist.
Municipal finance officers, treasurers, clerks, purchasing agents, collectors, commissioners of finance, council members, other municipal officials, and interested citizens are invited to enroll in the courses as long as the prerequisites are satisfied.
Typically, both fall and spring semester courses are scheduled in convenient and varied locations throughout the state, with times and sites announced in advance of each semester. To obtain a copy of the current brochure, click on the link in the Downloads box on the right sidebar of this web page, or call the center at 732-932-3640, ext. 644.
The CMFO curriculum includes a prerequisite of basic accounting knowledge, to ensure that students are adequately prepared to complete the program. A minimum of six credits in college-level accounting, or completion of the Introduction to Accounting course, is required prior to attendance in the Current Fund I and subsequent courses. An opportunity to "test-out” of the introduction course is available for individuals whose experience with accounting principles has prepared them to meet the demands of the curriculum. To make arrangements to take the test, call 732-932-3640, ext. 632; the exam administration carries a $90 fee.
Introduction to Accounting
This course has been added to the Certified Municipal Finance Officer's program to ensure that students are adequately prepared to successfully complete the program. The course is applicable to all those who do not possess six credits in accounting at the college level. Successful completion of this course is required prior to attendance in Current Fund I and subsequent courses. A final exam is given.
Municipal Finance Administration
This introductory course in the field of municipal finance is designed to provide a foundation for a better understanding of New Jersey local government fiscal affairs. Major areas of instruction cover the institutional framework of local government in New Jersey, the state's role in supervision and assistance, property tax administration and assessment administration, municipal caps, municipal budgeting, budget execution, municipal purchasing, treasury management, and flexible chart of accounts. A final exam is given.
Municipal Budget Process
This second course in the sequence acquaints the student with the full budget cycle, with special emphasis on the budget's role as a tool for effective municipal management. Legal requirements concerning the adoption and execution of the official budget are examined, with particular attention to the roles of various municipal officials and the administrative techniques involved. Preparation of departmental budget requests, budget review and cuts, revenues and appropriations, and new budget techniques are covered. Attention also is given to the flexible chart of accounts. Accounting and auditing principles are briefly discussed. Students are encouraged to relate the course work to their current practical budget problems. A final exam is given.
Municipal Current Fund Accounting I
Prerequisite: Municipal Budget Process
This third course focuses on fund accounting in New Jersey. It is designed to prepare the local government finance official for the more advanced accounting courses offered, and is required for the Municipal Finance Officer's certification. The student is introduced to basic fund accounting terminology and work sheet preparation. The flexible chart of accounts is also covered. A final exam is given.
Municipal Current Fund Accounting II
Prerequisite: Municipal Current Fund Accounting I
This is the fourth course in the municipal finance course sequence. It is designed for those who have responsibility for local government finance. The course covers the application of the principles and theories for the complete municipal accounting cycle. A final exam is given.
Municipal Capital and Trust Fund Accounting
Prerequisite: Municipal Current Fund Accounting I and II
This is the fifth course in the municipal finance course sequence. Students have an opportunity to work on accounting processes and problems during class under the instructor's supervision. Principles of assessment, trust fund accounting, general capital fund accounting, and theory of capital budgeting are also covered. A final exam is given.
Municipal Utility Fund Accounting
Prerequisite: Municipal Capital and Trust Fund Accounting
This is the sixth course in the municipal finance course sequence. Students have an opportunity in class to work on utility fund accounting processes and problems under the instructor's supervision. Course topics include purpose and scope of utility funds, the utility operating fund, theory of capital budgeting, the utility capital fund, and the utility assessment fund. A final exam is given.
Principles of Financial Management
Text: Principles of Financial Management
This seventh course in the municipal finance sequence emphasizes sound financial management practices for finance directors, treasurers, and registered municipal accountants. Elements of financial organization, reporting, planning, debt, pension, investment, insurance administration, and collective bargaining are reviewed through case studies. This is the only course in the sequence required for the issuance of the designation of Certified Municipal Finance Officer for registered municipal accountants (RMA) licensed by the State of New Jersey (see N.J.S.A. 40A:9-140 for details). A final exam is given.
Preparation of Annual Financial Statements
Prerequisite: All accounting courses
This is the eighth and final course in the series designed to teach the student the skills necessary to complete an annual financial statement. The course is open only to those students who have completed Municipal Current Fund I and II, Municipal Capital and Trust Fund Accounting, and Municipal Utility Fund Accounting. The course is built around the actual preparation of an annual financial statement by the student. In addition, specific information such as filing deadlines, statutory requirements, the role of the finance officer, and other pertinent issues are reviewed. A final exam is given.
County Fiscal Operations
Prerequisite: All accounting courses
Those wishing to become Certified County Finance Officers must complete the County Fiscal Operations course, successfully complete the eight financial management courses required for CMFO certification in addition to meeting other requirements. CMFOs who obtained their license by passing the state examination will be issued a County Finance Officer certification upon completion of the County Fiscal Operations course.
Registered Municipal Accountant (RMS) Examination Review Courses
6 hours each
These five, one-day courses are intensive reviews for those preparing for the Registered Municipal Accountant examination. The modules teach both theory and process through accounting problems and questions from prior RMA examinations. The following topics are covered: Module 1, Municipal Procedures and Practices; Module 2, Current Fund Accounting; Module 3, General and Trust Fund Accounting; Module 4, Utility Fund Accounting; Module 5, RMA Practice Exam. Modules are approved for 7 CPE credits each in Yellow Book Governmental Accounting by the Board of Accountancy under Rutgers University sponsor number 703.
Rutgers Center for Government Services awards certificates upon satisfactory completion of each Financial Management program course. This is defined as attendance at 80 percent of the class hours, a passing grade of 80 percent or higher, and full payment of all fees.
DCA Continuing Education Credit
Selected program courses qualify for CEU credit toward renewal of the CMFO/CCFO licenses. Call the center at 732-932-3640, ext. 644, for more information.
CPE Continuing Education Credit
The eight financial management courses are approved by the New Jersey State Board of Accountancy for CPE credit under New Jersey sponsor number 703.
For information on becoming a Certified Municipal Finance Officer (CMFO) or Certified County Finance Officer (CCFO), call the Division of Local Government Services, New Jersey Department of Community Affairs, at 609-633-6349, or visit http://www.state.nj.us/dca/divisions/dlgs/programs/certification.html.
For complete certification requirements for the CMFO designation, see N.J.S.A. 40A:9-140.1-3.
Those wishing to become a CCFO must, in addition to meeting other requirements, successfully complete the following eight finance courses:
- Municipal Finance Administration
- Municipal Budget Process
- Municipal Current Fund Accounting I
- Municipal Current Fund Accounting II
- Municipal Capital and Trust Fund Accounting
- Principles of Financial Management
- Preparation of Annual Financial Statement
- County Fiscal Operations
Municipal finance officers who obtained their CMFO license by passing the state examination will be issued a CCFO certification upon completion of the County Fiscal Operations and Preparation of Annual Financial Statement courses.
A registration form is available in the Downloads box on the right sidebar of this web page. Payment by credit card, or check or purchase order made payable to “Rutgers, The State University of New Jersey” must accompany the application. Send all correspondence and payments to:
Rutgers, The State University of New Jersey
Center for Government Services
303 George Street, Suite 604
New Brunswick, NJ 08901-2020
Faxed registrations (732-932-3586) will be accepted at any time and must include information regarding payment. Telephone registrations (732-932-3640, ext. 644) are accepted only immediately prior to the start of the class, on a space available basis, and must indicate how fees will be paid.
Upon receipt of the completed application and payment, a class space will be reserved; no confirmation will be sent. The university reserves the right to cancel any course without sufficient enrollment.
Class Cancelation Policy
Rutgers Center for Government Services reserves the right to cancel any course or seminar. The Center will notify all students enrolled in a course that has been canceled and the information will be posted on the Center website. Students will be given a choice of receiving a full refund for courses canceled by the Center or exercising the option to enroll in the same course at a different location (if one is available) or another course that is offered during the same semester. In the event there is a difference in course fees between the course that was canceled and the alternate course, an adjustment will be made.
If the student wishes to enroll in a course that is offered in during a future semester, the tuition payment will be held in an escrow account and the student will pay the difference in costs if the registration fee of the alternative course is more expensive. If the fees for the alternative course are less, the student will receive a refund for the difference. A student may not select an alternative course that has a prerequisite if the prerequisite has not been met.
Rutgers Center for Government Services will refund the full course fees minus a $25 charge for processing to students who notify the Center of their intent to withdraw from a class in writing at least two (2) business days before the class is scheduled to start. Failure to notify the Center within that time period will result in forfeiture of all fees.