Undergraduate-level courses provide significant opportunities for developing a niche in public financial management. Also, professionals who have a bachelor's degree may want continuing education courses or a graduate certificate in public financial management. In either case, you may enroll as a special student at an accredited university. Nonproft chief financial officers, nonprofit board members and governmental employees may also benefit from a course in public financial management.
The study of financial management can be broken down into four functional areas: budget planning and execution, debt management, funds management and financial control. You will assess the sources and uses of funds while exploring public sources of funds, such as taxation and grants. The proper management of short- and long-term assets is crucial to the fiscally responsible public entity. Financial control drives the course, as it asks financial managers to account for public funds while maintaining an efficient and ethically sound financial plan.
Public financial management focuses on maximizing the organizational aspects of a nonprofit or government to maximize the output of its services. You will learn theories associated with the management of public organizations and explore all aspects of financial accounting. You will obtain hands-on experience in executing a developmental evaluation of your nonprofit, including the evaluation's creation, implementation and performance measurements. You will explore concepts in fundraising for local, national and international nonprofits and governments. You will also learn how to conduct meaningful surveys to collect data about your organization. When deciding on a public financial management course, ensure that it is accredited with the Association for Budgeting and Financial Management of the American Society for Public Administration. This organization provides the national standard on financial management, both public and private. Also, no exam is required to graduate.
Public financial managers often work with the boards of directors and directors of public organizations or with top-level administrators in city halls and governmental agencies. You will need direct access to a late-model computer system to prepare your financial reports. Public financial managers often work upward of 50 hours a week and are often required to attend high-level meetings to present the budget.