Training Requirements

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 Act.

 

Initial Training

Renewal Training

(every 2 years)

Exceptions

2 Year Training Period

Municipalities

10 hours within first 12 months in position

8 hours

No investments outside of Interest Bearing Accts and local CDs – Exempt from renewal training at the discretion of the Entity and the local auditor

Based on Entity’s  fiscal year

School Districts

10 hours within first 12 months in position

8 hours

 

Based on Entity’s  fiscal year

Other Local Governments

10 hours within first 12 months in position

10 hours

 

Based on Entity’s  fiscal year

State Agencies and Institutions of Higher Education

5 hours within first 6 months in position

5 hours

 

Based on the State fiscal biennium

Water Entities

(Ch. 36 or 49 only)

6 hours within first 12 months in position

4 hours

 

Based on Entity’s  fiscal year

The Center for Public Management (CPM) revises its curriculum on a two-year cycle. September 1, 2015 was the beginning of a new two-year cycle ending August 31, 2017. The Public Funds Investment Act requires that investment training include education in investment controls, security risks, strategy risks, market risks, diversification of investment portfolio, and compliance with the Act. CPM has developed several programs designed to meet the training requirements of the Public Funds Investment Act and the needs of trainees. At least once each year, for example, a workshop is offered for new Investment Officers with little experience in investing public funds. The actual content of each workshop will vary depending on the audience and the availability of speakers. There are no prerequisites for any workshops.

Upon successful completion of the workshop, each participant will receive a Certificate of Attendance. CPM investment training workshops qualify for PFIA, CPE, and CGFO continuing education credit. In addition, the Texas Association of School Business Officials has approved the CPM workshops for TASBO certification credit. A test is given at the end of each workshop for those taking the course for TASBO certification credit.

Click here to view the complete CPM investment training curriculum.

For more information about the Public Funds Investment Act training requirements and/or CPM course content, please contact Patrick Shinkle or call 940-369-7950.

We are registered with the Texas State Board of Public Accountancy as a CPE sponsor (007716). This registration does not constitute an endorsement by the board as to the quality of our CPE program.