Government Finance   The chapter presents an overview of government finance. It is composed of various sections such as Budgeting, Accounting, Auditing and Financial Reporting, Cash Management and Banking Relations, Capital Planning, Debt Management, Financial Management, and Retirement Administration. After completing this chapter, participants should have a strong basis for exploring the remaining chapters in depth.   Public Retirement Plans   This chapter serves as a user-friendly road map for participants who wish to understand public retirement plans.   Procurement for Governments   Procurement is an essential, but often overlooked, government function. Nearly one third of government expenditures flow through procurement systems. This chapter is designed to provide participants with simple explanations of the most important procurement concepts.   Internal Controls And Fraud Prevention   Elected officials have a special duty to the public to ensure that a governments resources are properly managed. Good management requires the maintenance of sound internal controls. The purpose of this chapter is to provide participants with clear and practical answers to the most commonly asked questions about internal controls and fraud prevention.   Investing   The prudent investment of public funds is a key responsibility of government officials entrusted with public monies. It is also one of the most visible aspects of public office as it is under intense public scrutiny. Add to this the complex nature of public funds investing and the legal restrictions placed on types of investment vehicles in Ohio, and you can see why this chapter is presented. This chapter is designed to help participants make sense of basic investment principles and practices by examining the various components of the investment function.   Multi-Year Budgeting   There has been a resurgence of interest in multi-year budgeting prompted by a realization by governments of the difficulty in linking long-term strategic plans with the financial planning processes in annual budget cycles. This chapter addresses issues surrounding multi-year budgeting in a manner that is accessible to participants.   Auditing   Auditing plays a critical role in public finance. Indeed, auditing is essential to the credibility of accounting and financial reporting by state and local governments. Yet, despite the undeniable importance of auditing, it is not always understood by many outside the auditing profession. This chapter is designed to provide the participant with answers to commonly asked questions about auditing in the public sector.   New Governmental Financial Reporting Model   In June 1999, the Government Accounting Standards Board (GASB) established a new framework for the financial reports of state and local governments. This new framework or financial reporting model represents the biggest single change in the history of governmental accounting and financial reporting. It is important for persons interested in public finance to understand and fully profit from all that the new reporting model has to offer. This chapter is designed to provide an appropriate overview of the model.   Fund Balance   Fund balance is probably the single item of greatest interest to many, if not most, users of state and local government financial statements. Yet, despite its importance, fund balance remains, at best, an elusive concept for many interested in public finance. This chapter is designed to convey a simple explanation of fund balance and devotes special attention to changes in fund balance concepts as a result of the new government financial reporting model.   Debt Issuance   One of the most important responsibilities of state and local governments is ensuring that the capital needs of their jurisdictions are met. The issuance of tax-exempt debt has become a primary means for governments to pay for costly capital improvements. This chapter is intended to serve as an introduction to the process of planning for and selling tax-exempt debt.
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