Graduate Certificate in Public Financial Management
The Graduate Certificate in Public Financial Management is designed for working professionals seeking to increase their public finance and financial management knowledge, which is a vital asset for leaders in both government and non-profit organizations. Public institutions are faced with multiple challenges as they attempt to efficiently and effectively manage their finances and initiate new programs that are financially sustainable. The Martin School is among the top graduate programs in the nation in public financial management, and is one of very few offering a certificate of this kind.
Entirely online, this 12-credit hour program offers the same high quality experience as traditional on-campus programs with instruction provided by faculty with backgrounds and expertise in relevant areas such as public budgeting, debt management, public sector accounting and auditing from both the Martin School and the Von Allmen School of Accountancy.
Coursework is designed to engage students weekly through assignments, readings, exams, and other activities with the same level of rigor of other traditional Master programs offered by the Martin School of Public Policy and Administration. Students can expect a combination of self-study and student-faculty interaction over an online learning network in four sequential, 8-week modules over two semesters. Students accepted into the online program pay in-state tuition rate (per credit hour plus fees), offering in-state and out-of-state students an affordable option for a graduate certificate.
Tuition and Fees
Current mandatory fees and per hour tuition rates can found on the Registrar's website.
**Undergraduate, graduate or professional students enrolled in a certificate program are NOT eligible for federal Title IV financial aid funds unless they are concurrently enrolled in a degree program at the University of Kentucky.** More information can be found here.
Interested? You may complete an online application. You will need your undergraduate GPA and transcript, a CV, and a personal statement (1-3 pages) introducing yourself and describing why you would like to attend this program.
If students enrolled in the certificate program then wish to apply to the Master of Public Financial Management Program, the requirement to submit GRE or GMAT scores may be waived if students have successfully completed 9 or more credit hours toward the certificate. The Director of Graduate Students shall make the recommendation for the waiver upon review of the student's performance in the Certificate Program.
A Comparison of the Graduate Certificate and the Master of Public Financial Management Program
How does the Graduate Certificate compare to the MPFM program? Also entirely online, the MPFM is a 2-year program that will prepare students for advanced-careers in public financial management and analysis, offering advanced topics in public accounting, audit, municipal securities, public pensions/insurance, and other special topics in public finance, topics not included in the MPA or MPP programs. The MPFM curriculum is inclusive of all of the Graduate Certificate coursework, plus an additional 24 credit hours, requiring a total of 36 credit hours to complete.
For admission, students must meet all requirements of the University of Kentucky Graduate School, including a baccalaureate degree from an accredited university. Unlike our other degree programs, the Graduate Certificate does not require a GRE/GMAT score. Given the nature of the program, applicants are strongly encouraged to have some experience or education in accounting, however it is not a formal prerequisite.
The certificate program consists of 4 modular courses-- Public Financial Management, Investments/Cash Management, Governmental Accounting and Financial Condition Analysis, and Governmental Auditing. More information on the sequencing and content of the each is below.
Fall Session 1:
Fall Session 2:
Spring Session 1:
Spring Session 2:
Public Financial Management
An analysis of budget structure and process, revenue structure, administration, public capital acquisition and debt management. This course emphasizes an applied focus and comparative analysis of alternative budget, revenue, and debt management structures and strategies.
A study of the management of public funds including the accumulation and investment of such funds and the accounting for those transactions. It will also include topics such cash forecasting, cash management practices and public funds investment strategies.
Governmental Accounting and Financial Condition Analysis
Examines the characteristics of governmental and not-for-profit accounting emphasizing the various fund types and account groups, review and evaluation of presently recommended accounting and financial reporting procedures, GAAP, and an exploration of practical governmental and not-for-profit accounting practices and methods.
Focuses on components of the governmental audit process unique to the public sector. Students will gain an understanding of the Government Auditing Standards (GAGAS), types of audits, the role of audit objectives and audit evidence, the fundamentals of interviewing, the preparation of audit working papers, as well as how to interpret audit findings and elements based on qualitative and quantitative evidence and communicate those findings to non-financial audiences.
Distance Education Special Circumstances
Please be aware that admission and/or enrollment in this program cannot lead to the issuance of an F-1 or J-1 student visa. The University of Kentucky cannot sponsor a student visa or issue an I-20/DS-2019 to students in an online program.
Per state laws, distance education courses and programs must be legally authorized in a state prior to offering courses or programs to students residing there. Therefore, program availability varies by state. Students should check UK Online to determine if a distance education program at the University of Kentucky is available in their state of residence.
Relocating during the course of a program
All distance education students should keep in mind that relocating during the course of a program to another state could impact whether that student can continue in the course and/or meet the eligibility requirements of that state.
I found the online graduate certification program in Public Financial Management to be a rewarding and useful supplement to my understandings of government budgeting, finance, accounting, and auditing. To be sure, the program and its instructors are top-notch and very helpful. The online format was user friendly and I found all the material to be challenging but very manageable with my full-time work schedule. I would certainly recommend it to those who are looking to advance their own education and professional careers.
Fred J. Rogers, City Administrator, City of Shelbyville, KY