Training Information

The Public Funds Investment Act (Chapter 2256, Texas Government Code) requires treasurers, chief financial officers, and investment officers of local governments, including all political subdivisions, state agencies, and institutions of higher education (including community colleges), to complete training on topics pertaining to the PFIA. Most officials in these positions must complete the training every two years.

The objectives for PFIA training include increased knowledge of investment controls, security risks, strategy risks, market risks, diversification of investment portfolios, and compliance with the Public Funds Investment Act. An outline of the topics covered is here. No prerequisite or preparation is required. Any of CPM’s PFIA training is appropriate for first-time public finance officers. Training requirements for different positions can be found here.

Upon completion of the CPM PFIA Training, participants will receive certificates verifying their attendance and the CPE hours earned. The 1 credit is awarded per 50-minute training session. The certificates are valid for PFIA, TSBPA CPE, CGFO and TASBO certification. UNT CPM is registered with the Texas State Board of Public Accountancy as a CPE sponsor (007716). This registration does not constitute the board’s endorsement of the quality of our CPE program.

Payment

*Credit card payments are strongly preferred (see below) and are due before the workshop.

*After your credit card payment is processed, you will immediately receive an emailed receipt from Tamara.Russell@unt.edu. It will read “CPM: Public Funds Investment Act (date) Registration Confirmation and Invoice.” Please be aware that these emails often land in spam/junk email folders.

*Emails will go to the address provided in the payment processor screen.

*If the combination of emailed invoice and credit card receipt is insufficient for your purchasing system requirements, please email CPMworkshops@unt.edu.

*If paying by check, please reference the invoice number and the attendee’s name on your check, or mail a copy of the invoice with your check. Our mailing address is: Center for Public Management, UNT College of Health and Public Service, 1155 Union Circle #305129, Denton, TX 76203.

*We understand that check payments sometimes take longer, and the class may occur before CPM receives payment. If this happens and you have received an invoice for registration, you may participate in the class, but you will not receive the certificate of completion until your payment has been received and processed.

*If you do not receive a confirmation and invoice, or you have any questions or need to change your registration, please call 940-369-6157, email CPMworkshops@unt.edu or Tamara.Russell@unt.edu.

Cancellations, Transfers, and Substitutions

*All requests for cancellations, transfers and substitutions must be submitted via email to tamara.russell@unt.edu by the date and time stated on your confirmation/invoice.

*In the case of cancellations, refund requests should be emailed to CPMworkshops@unt.edu or tamara.russell@unt.edu. No refunds are available after the deadline noted on your confirmation/invoice.

*You may transfer your registration once to another session within six months of your original training date. Please email transfer requests to CPMworkshops@unt.edu or tamara.russell@unt.edu. No refunds are available to participants who transfer their registrations.

*If the original participant cannot attend, a substitute may attend. Transfers and refunds are not available for substitute attendees.

The following is an overall description of our PFIA training curriculum. The actual content of each workshop will vary depending on the speakers. All of our sessions are appropriate for both new and experienced investment officers. There are no prerequisites for any of our training sessions.

Public Funds Investment Act Compliance

Understand the history of the Public Funds Investment Act
Understand the requirements of the Act
Understand the Investment Officer's responsibilities
Identify whether or not their organization is in compliance with the Act

Safekeeping and Custody

Understand the requirements of the Public Funds Collateral Act
Understand the roles of a safekeeping agent and a collateral custodian and the documents related to these services

Diversifying and Protecting Your Portfolio

Implement controls in the investment program to protect the portfolio
Understand the risks associated with the investment program
Understand the basic principles of diversification

Local Government Investment Pools and Money Market Mutual Funds

Understand the Public Funds Investment Act requirements for these investments
Know the questions to ask a prospective fund or pool provider
Interpret the information received from a pool or fund provider
Understand if information is adequate to support investment decision

Depository Relationships

Understand the various laws governing depository relationships and know which law or laws apply to the participant
Understand the factors considered in awarding depository contracts
Understand the banking services supporting the investment program

Preventing Loss from Check Fraud

Understand internal control elements used to prevent check fraud
Understand banking services used to prevent check fraud

Investment Calculations

Understand the concept of the time value of money
Calculate the price for a discount security
Calculate the price for a coupon security
Calculate the effective yield for a discount security
Calculate the weighted average maturity of an investment portfolio

Investment Scenarios

This exercise develops portfolio management skills by building portfolios and reporting recommendations. Case studies are used to illustrate the importance of cash flow, risk tolerance, and investment policy parameters in determining portfolio strategy.

Managing Risk

Understand elements of control to minimize risk in an investment program
Understand the elements of and preparation for the annual compliance audit

Authorized Investments and Associated Risks

Understand the different types of risk in investing
Understand the investments authorized by the Act and their associated risks

Investment Strategies and Associated Risks

Understand the purpose of the investment policy and investment strategy
Understand the benefits and risks of the four basic investment strategies
Determine which strategy is appropriate for the organization's funds

Cash Flow Forecasting

Identify the information required to prepare a cash flow forecast
Understand the benefits and functions of a cash flow forecast

Factors Affecting Interest Rates

Understand the effect of Federal Reserve Bank actions on interest rates
Understand the effect of various economic indicators on interest rates
Understand the effect of the business cycle on interest rates

Effective Investment Reporting

Understand the reporting requirements
Understand the function of the investment report in monitoring the investment program
Learn various methods of investment report preparation and presentation

A Step Approach to Investing and Cash Management

List the steps to implement an effective investment and cash management program
Understand the basics of selecting brokers/dealers
Recognize various cash management products
Understand the investment selection process

More information coming soon!