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The Chief Financial Officers Act of 1990(CFO Act) was signed into law by President George H. W. Bush. For each of 23 federal agencies, the position of chief financial officer was created. Since that time, federal efforts have been intended to improve the government's financial management and develop standards of financial performance and ...
In June 1932, the name became the Municipal Finance Officers Association (MFOA). In 1973, the GFOA (then MFOA) was instrumental in the creation of the National Council on Governmental Accounting (NCGA). By the late 1970s, it was apparent that the NCGA couldn't fully do its job, due to part-time members and limited resources.
The Chief Financial Officers (CFO) Act of 1990 (Public Law 101–576) signed into law by President George H. W. Bush on November 15, 1990, is a United States federal law intended to improve the government's financial management, outlining standards of financial performance and disclosure.
The chief financial officer was traditionally viewed as a financial "gatekeeper".Over time, the position has become one of an advisor and strategic partner to the CEO. [2] [3] According to one source, "The CFO of tomorrow should be a big-picture thinker, rather than detail-oriented, outspoken rather than reserved, prefer to delegate rather than be hands-on, emphasize what gets done rather than ...
A CAO is responsible for administrative management of private, public or governmental organizations and the de facto head of the organization.. In a municipal context, the title is usually used as an alternative for city manager, [1] county administrator, or county executive, particularly in cases where the position does not include powers such as the authority to appoint or dismiss department ...
The municipal treasurer is a position of responsibility for a municipality according to the locally prevailing laws. The treasurer of a public agency is elected [1] by the voting public or is appointed by the municipal council or municipal manager. City treasurers are primarily responsible for managing the revenue and cash flow of the agency ...
In the early years of the profession, most managers came from the ranks of the engineering professions. [17] Today, the typical and preferred background and education for the beginning municipal manager is a master's degree in Public Administration (MPA), and at least several years' experience as a department head in local government, or as an assistant city manager.
Similar to an accounting manager, they are usually subordinate to the manager, or report directly to the controller or CFO. In addition to their supervisory role, they will be responsible for monitoring and approving the financial processes and reporting of their department. [3] [4]