How Do I Become a Government Financial Manager?

"President Woodrow Wilson once said that every man sent out from a university should be a man of his nation as well as a man of his time, and I am confident that the men and women who carry the honor of graduating from this institution will continue to give from their lives, from their talents, a high measure of public service and public support."

- President John F. Kennedy

What is a Government Financial Manager (GFM)?

GFMs oversee the preparation of financial reports, direct investment activities and implement cash management strategies for federal, state and local government.

Financial managers perform tasks unique to their organization or industry. For example, GFMs must be experts on the government appropriations and budgeting processes. Moreover, financial managers must be aware of special tax laws and regulations that affect their industry.

Typical GFM Titles & Duties

The duties of financial managers vary with their specific titles, which include:

• Controller: direct the preparation of financial reports that summarize and forecast the organization's financial position, such as income statements and balance sheets and analyses of future earnings or expenses. Controllers are also in charge of preparing special reports request by regulatory authorities. Often, controllers oversee the accounting and budget departments.
   
• Treasurer: direct the organization's financial goals, objectives and budgets. They oversee the investment of funds and manage associated risks, supervise cash management activities and execute capital-raising strategies to support an agency's expansion.
   
• Auditor: are responsible for conducting financial and performance audits of all public and quasi-public entities as required, under law. The auditor's office reviews the methods, accuracy and legality of the accounts, financial reports, to verify that the agency has complied with the laws, rules, ordinances and orders pertaining to the agency. Performance audits also contribute to government accountability for the use of public resources and the delivery of services.
   
• Inspector General (IG): The Office of Inspector General (OIG) conducts audits and evaluations to review the effectiveness, efficiency, economy, and integrity of all  programs and operations, including those performed by its contractors and grantees. This work is conducted in order to determine whether: the programs and operations are in compliance with the applicable laws and regulations; resources are efficiently and economically being utilized; and programs achieve their intended results.
   
• Chief Financial Officer (CFO): primary responsibility involves supervising the activities of major components, and serving as the principal advisor to the U.S. Department's Secretary on all matters related to discretionary grant-making, cooperative agreements, and procurement, as well as financial management, financial control, and accounting.