California Municipal Treasurers Association (CMTA) is the

professional society A professional association (also called a professional body, professional organization, or professional society) usually seeks to further a particular profession, the interests of individuals and organisations engaged in that profession, and the ...

of active public treasurers of California counties, cities, and special districts. It sets ethical standards for the treasury profession in state and

local government Local government is a generic term for the lowest tiers of public administration within a particular sovereign state. This particular usage of the word government refers specifically to a level of administration that is both geographically-loca ...

in California. The

treasurer A treasurer is the person responsible for running the treasury of an organization. The significant core functions of a corporate treasurer include cash and liquidity management, risk management, and corporate finance. Government The treasury o ...

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 tax A property tax or millage rate is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheri ...

sales tax A sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually laws allow the seller to collect funds for the tax from the consumer at the point of purchase. When a tax on goods or services is paid to a govern ...

income tax An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Tax ...

, utility users tax (UUT), transient occupancy tax (hotel occupancy), and user fees such as licensing and permit fees. John Chiang is the California State Treasurer. There are 480 California cities, 58

California counties The U.S. state of California is divided into 58 counties. The state was first divided into 27 counties on February 18, 1850. These were further sub-divided to form sixteen additional counties by 1860. Another fourteen counties were formed through ...

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 Treasurer A Certified California Municipal Treasurer (CCMT) is a post-nominal professional certification awarded by the California Municipal Treasurers Association (CMTA) to California public treasurers who meet standards of education, experience, and a sta ...

(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 government.

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 management, bond sales,

management skills Management (or managing) is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing resources of the business. Management includes the activities o ...

communications Communication (from la, communicare, meaning "to share" or "to be in relation with") is usually defined as the transmission of information. The term may also refer to the message communicated through such transmissions or the field of inquir ...

, and

legislation Legislation is the process or result of enrolled bill, enrolling, enactment of a bill, enacting, or promulgation, promulgating laws by a legislature, parliament, or analogous Government, governing body. Before an item of legislation becomes law i ...

. 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.

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."Credit market freeze may claim local governments as victims" Los Angeles Times, Nov. 22, 2008
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References

External links

*{{Official website, http://www.cmta.org Government-related professional associations in the United States Professional certification in finance Government finances in the United States Local government in California 1959 establishments in California