California Municipal Treasurers Association
Encyclopedia
California Municipal Treasurers Association (CMTA) is the professional society of active public treasurers
of California counties, cities, and special districts. It sets ethical standards for the treasury profession in state and local government
in California.
The treasurer
of a public agency is elected by the voting public or are appointed staff. Public treasurers are primarily responsible for managing the revenue and cash flow of the agency. This officer is also responsible for banking, collections of user fees such as utility usage and business licenses, and communicating financial performance and forecasts to the community.
, sales tax
, income tax
, utility users tax (UUT), transient occupancy tax (hotel occupancy), and user fees such as licensing and permit fees.
Bill Lockyer
is the Treasurer
of the State of California. There are 480 California cities , 58 California counties about 3,400 Special Districts and School Districts, each with independent fiscal stewardship. Many City Treasurers are elected, and are therefore directly accountable to their constituents; the remainder are appointed either by City Council or City Manager.
(CCMT) certification program, launched in 1978. CCMT is a professional post-nominal awarded to a public treasurer who meets standards of education, experience and a stated commitment to a code of ethics. CCMT candidates must meet or exceed requirements in two areas; 50% educational standards and 50% experience and training requirements. Certification is also designed as a guide for municipal treasurers to become valued administrators in local overnment.
, bond sales, management skills, communications, and legislation
. An on-line resource library is also maintained to support municipal treasurers.
Standing Committees
Financial Leadership is furthered by engaging in efforts to assist statewide finance officers to develop the skills and capabilities necessary to enable them to become organizational leaders as well as technical experts.
1. To protect, preserve and maintain intact cash, investments and other assets placed in trust with the Treasurer on behalf of the residents of the community.
2. To promote principles of good government. To be dedicated to the concepts of effective and efficient local government service being provided by elected and appointed Treasurers.
3. To maintain personal conduct in such a manner as will enhance the stature of the profession and its ability to serve the public.
4. To observe the profession's technical standards and continually strive to improve the Treasurers’ level of competence.
5. To be dedicated to the highest ideals of honor, integrity, and objectivity in all public and professional relationships, and to function within existing legal guidelines.
6. To promote cooperation, good relations, bonds of friendship and mutual understanding among the membership.
7. To encourage the development of clear lines of communication between residents and elected officials, administrative officers and employees.
8. To resist encroachments upon areas of responsibility, as the Treasurer must be free to carry out official duties without interference.
9. To seek no personal advantage or gain as a result of the position occupied, or due to the commission of a questionable act.
City Treasurer
The City Treasurer is a position of responsibility for a city according to the prevailing laws in that city.The treasurer of a public agency is elected by the voting public or is appointed by the city council or city manager...
of California counties, cities, and special districts. It sets ethical standards for the treasury profession in state and local government
Local government
Local government refers collectively to administrative authorities over areas that are smaller than a state.The term is used to contrast with offices at nation-state level, which are referred to as the central government, national government, or federal government...
in California.
The treasurer
Treasurer
A treasurer is the person responsible for running the treasury of an organization. The adjective for a treasurer is normally "tresorial". The adjective "treasurial" normally means pertaining to a treasury, rather than the treasurer.-Government:...
of a public agency is elected by the voting public or are appointed staff. Public treasurers are primarily responsible for managing the revenue and cash flow of the agency. This officer is also responsible for banking, collections of user fees such as utility usage and business licenses, and communicating financial performance and forecasts to the community.
Membership role
Members are treasurers of municipalities and other local government agencies, whether elected or appointed, having responsibility for collection, receipt, reporting, custody, investment or disbursement of municipal funds. Municipal funding sources are commonly property taxProperty tax
A property tax is an ad valorem levy on the value of property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state or a municipality...
, sales tax
Sales tax
A sales tax is a tax, usually paid by the consumer at the point of purchase, itemized separately from the base price, for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale....
, income tax
Income tax
An income tax is a tax levied on the income of individuals or businesses . Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate...
, utility users tax (UUT), transient occupancy tax (hotel occupancy), and user fees such as licensing and permit fees.
Bill Lockyer
Bill Lockyer
William Westwood "Bill" Lockyer is an American politician. He is the current 32nd State Treasurer of California, elected in 2006 and re-elected in 2010. He has also served as California Attorney General and President Pro Tempore of the California State Senate...
is the Treasurer
Treasurer
A treasurer is the person responsible for running the treasury of an organization. The adjective for a treasurer is normally "tresorial". The adjective "treasurial" normally means pertaining to a treasury, rather than the treasurer.-Government:...
of the State of California. There are 480 California cities , 58 California counties about 3,400 Special Districts and School Districts, each with independent fiscal stewardship. Many City Treasurers are elected, and are therefore directly accountable to their constituents; the remainder are appointed either by City Council or City Manager.
Professional standards setting
CMTA offers a Certified California Municipal TreasurerCertified California Municipal Treasurer
A Certified California Municipal Treasurer is a post-nominal professional certification awarded by the California Municipal Treasurers Association to California public treasurers who meet standards of education, experience and a stated commitment to a code of ethics...
(CCMT) certification program, launched in 1978. CCMT is a professional post-nominal awarded to a public treasurer who meets standards of education, experience and a stated commitment to a code of ethics. CCMT candidates must meet or exceed requirements in two areas; 50% educational standards and 50% experience and training requirements. Certification is also designed as a guide for municipal treasurers to become valued administrators in local overnment.
Training and education in municipal treasury
CMTA has technical and professional committees that deal with issues facing treasurers, their agencies and the public. CMTA also provides web-based technical support resources, educational material, conferences and technical publications for its members. CMTA's annual statewide conferences provide an array of education across many topics and alternate annually between various northern and southern cities. The association conducts workshops to provide training and education on investments, cash managementCash management
In United States banking, cash management, or treasury management, is a marketing term for certain services offered primarily to larger business customers...
, bond sales, management skills, communications, and legislation
Legislation
Legislation is law which has been promulgated by a legislature or other governing body, or the process of making it...
. An on-line resource library is also maintained to support municipal treasurers.
Standing Committees
Financial Leadership is furthered by engaging in efforts to assist statewide finance officers to develop the skills and capabilities necessary to enable them to become organizational leaders as well as technical experts.
| Committee | Chair |
|---|---|
| CCMT Certification | Donna Mullally, CCMT, City of Irvine Irvine, California Irvine is a suburban incorporated city in Orange County, California, United States. It is a planned city, mainly developed by the Irvine Company since the 1960s. Formally incorporated on December 28, 1971, the city has a population of 212,375 as of the 2010 census. However, the California... |
| Commercial Associates Liaison | William Blackwill, Citigroup Global Markets, Inc. |
| Education | Mary Asturias, CCMT, City of Burlingame Burlingame, California Burlingame is a city in San Mateo County, California. It is located on the San Francisco Peninsula and has a significant shoreline on San Francisco Bay. The city is named after diplomat Anson Burlingame. It is renowned for its many surviving examples of Victorian architecture, its affluence, and... |
| General Conference | Victoria Beatley, CCMT, CFO, Mesa Consolidated Water District Christine Vuletich, CCMT, City of South Lake Tahoe South Lake Tahoe, California South Lake Tahoe is the most populous city in El Dorado County, California, in the Sierra Nevada Mountains. The population was 21,403 at the 2010 census, down from 23,609 at the 2000 census... |
| Legislation | Tim Lilligren, CCMT, City of Manhattan Beach Manhattan Beach, California Manhattan Beach is the wealthiest beachfront city located in southwestern Los Angeles County, California, USA. The city is on the Pacific coast, south of El Segundo, and north of Hermosa Beach. Manhattan Beach is the home of both beach and indoor volleyball, and surfing. During the winter, the... |
| Membership and Budget | Michelle Durgy, City and County of San Francisco San Francisco, California San Francisco , officially the City and County of San Francisco, is the financial, cultural, and transportation center of the San Francisco Bay Area, a region of 7.15 million people which includes San Jose and Oakland... |
| Newsletter and Public Relations | Gina Tharani, CCMT, City of Aliso Viejo Aliso Viejo, California Aliso Viejo is a city in Orange County, California. It had a population of 47,823 as of the 2010 census, up from 40,166 as of the 2000 census. It became Orange County's 34th city on July 1, 2001, the only city in the county to incorporate since 2000... |
| Standing Rules and Bylaws | Mary Morris, MBA, CCMT, San Juan Water District |
| Technology | Mary Morris, MBA, CCMT, San Juan Water District |
California investments - Government Code
The objective of municipal investments is to enhance the economic status of a given agency consistent with the prudent protection of the agency’s investments. Agencies are required to create a publicly reviewed investment policy, prepared in conformance with all pertinent existing laws of the State of California including California Government Code Sections 53600, et seq. This section of California Government Code defines permitted and prohibited investments. California public treasurers must abide within the limits of this code.Code of Ethics
The following Code of Ethics, governing the professional conduct of active members of the California Municipal Treasurers Association, sets a standard of conduct in government finance:1. To protect, preserve and maintain intact cash, investments and other assets placed in trust with the Treasurer on behalf of the residents of the community.
2. To promote principles of good government. To be dedicated to the concepts of effective and efficient local government service being provided by elected and appointed Treasurers.
3. To maintain personal conduct in such a manner as will enhance the stature of the profession and its ability to serve the public.
4. To observe the profession's technical standards and continually strive to improve the Treasurers’ level of competence.
5. To be dedicated to the highest ideals of honor, integrity, and objectivity in all public and professional relationships, and to function within existing legal guidelines.
6. To promote cooperation, good relations, bonds of friendship and mutual understanding among the membership.
7. To encourage the development of clear lines of communication between residents and elected officials, administrative officers and employees.
8. To resist encroachments upon areas of responsibility, as the Treasurer must be free to carry out official duties without interference.
9. To seek no personal advantage or gain as a result of the position occupied, or due to the commission of a questionable act.
2008 financial crisis
The worldwide credit market crisis on 2008 put states, cities and other bond-issuing government entities in jeopardy. California Treasurer Bill Lockyer and 19 municipal treasurers sought to work together, asking for an emergency Federal Reserve program to restore liquidity and help drive rates lower.See also
- AICPA
- California Society of Municipal Finance OfficersCalifornia Society of Municipal Finance OfficersThe California Society of Municipal Finance Officers is a professional association of state, county, and local government finance officers in California. The California Society of Municipal Finance Officers is the statewide organization serving all California municipal finance professionals, an...
(CSMFO) - Certified Public AccountantCertified Public AccountantCertified Public Accountant is the statutory title of qualified accountants in the United States who have passed the Uniform Certified Public Accountant Examination and have met additional state education and experience requirements for certification as a CPA...
- GASBGASBGASB may refer to:* Governmental Accounting Standards Board * Gallium antimonide...
- Public FinancePublic financePublic finance is the revenue and expenditure of public authoritiesThe purview of public finance is considered to be threefold: governmental effects on efficient allocation of resources, distribution of income, and macroeconomic stabilization.-Overview:The proper role of government provides a...
- State GovernmentState governmentA state government is the government of a subnational entity in a federal form of government, which shares political power with the federal or national government. A state government may have some level of political autonomy, or be subject to the direct control of the federal government...
- State TreasurerState TreasurerIn the state governments of the United States, 49 of the 50 states have the executive position of treasurer. Texas abolished the position of Texas State Treasurer in 1996....
- TaxTaxTo tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...
- United States Department of the TreasuryUnited States Department of the TreasuryThe Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...