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Public Financial Management


Units: 6


This course is designed for students to develop an understanding of the key disciplines of financial management for state & local governments. Specifically, the course will emphasize the ability to read and understand basic financial statements and the comprehensive annual financial report (CAFR), how generally accepted accounting principles (GAAP) apply to state & local government, fund accounting, and other financial reporting components. Students will also be introduced to the fundamental principles of state & local government financial management including budget development, long-term financial planning, debt management, and retirement benefits, and will become familiar with how all of these elements can be used to help accomplish organizational goals and objectives for state & local governments.

Learning Outcomes

Upon completion of this course, students will be able to:

  1. Apply the theories, principals, concepts and terms applicable to public financial management, particularly as they apply to state and local governments
  2. Identify the major revenue sources in state and local government, and how external forces may impact them
  3. Describe the roles played by management, elected officials and other stakeholders in the public financial management process
  4. Implement best practices for budgeting in state and local governments
  5. Explain the role and importance of long-term financial planning
  6. Navigate a local government’s financial statements and analyze their financial strength and performance
  7. Apply the basic principles of debt issuance and debt management
  8. Design sound policies for treasury and investment management

Prerequisites Description

90-723 Financial Statements and Analysis of Companies