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Master of Public Financial Management (MPFM)

We have some exciting news for students interested in our online programs! As we kick off our new online Master of Public Financial Management Program in the Fall 2017, we are offering scholarships in the amount of $500 for the online Graduate Certificate Program and $750 for the online Master of Public Financial Management for all students who have applied and been admitted to the programs by June 1, 2017.

"The Masters of Public Financial Management program at the Martin School has more than exceeded my previous graduate studies experiences. The faculty have demonstrated a thorough expertise of the material and a genuine passion for instructing. The coursework, discussions, and texts have been personally challenging and professionally fulfilling. I have found the topics covered to be completely applicable to my current position in public finance and can envision how this new knowledge will directly benefit my current organization as well as any future organization I am a part of." - Andrew Wells, current student

The Master of Public Financial Management is designed to meet the current and expanding national demand for well-trained financial managers for public 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 an online MPFM degree program.

Like the PFM Graduate Certificate, the MPFM consists exclusively of online coursework, which will 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. Where the MPFM differs from the Graduate Certificate, however, is in its depth. This 36-credit hour degree program includes all of the courses found in the Graduate Certificate, plus an additional 24 credit hours focused on technical, central financial management questions.

How does this degree compare to our other offerings? If you are interested in both the certificate and the master program, we encourage you to check out this graphic to get a "bird's eye view" of the differences between the two. The MPFM differs from our MPP and MPA programs, though, in a couple of key ways:

  • The MPFM program will prepare students for advanced-careers in public financial management and analysis. The MPP program prepares students for a policy analyst or research career; the MPA prepares students for public management and administration positions.
  • The MPFM will offer 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 program will be offered completely online, allowing for non-traditional students and the flexibility of online coursework.Our MPA and MPP programs do not offer online classes; however, the majority of our MPA and MPP courses are in the evenings to accomodate working professionals living in the area.

 

Tuition and Fees

Like the Graduate Certificate program, all MPFM students will pay the in-state tuition rate, which is assessed per credit hour, in addition to semesterly fees. The current tuition rate is $648 per hour, adding up to $3,888 per semester. The program fee per semester is $1,500. For more information, visit the Registrar's website.

 

Prerequisites

For admission, students must meet all requirements of the University of Kentucky Graduate School, including a baccalureate degree from an accredited university. To be considered, potential MPFM students must submit a GRE/GMAT score, a biographical sketch, and three letters of recommendation through the Graduate School's online portal. For more information about applying, click here. 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.

 

Curriculum

The program can be completed in two years, including coursework throughout the summer between years one and two. Students take one 3-credit hour course at a time in 8-week sessions, with the exception of the first summer session, which is 4 weeks long. The culmination of the program is the Capstone Project, which is a self-selected research project centered on relevant policy questions.

It is important to note that the first year is identical to the Graduate Certificate program. If a student starts out in certificate track and would like to switch over to the Master's degree program, it is possible for the student to count those credit hours towards that degree. However, the application requirements differ between the Graduate Certificate and the MPFM; the interested student would have to meet those requirements; this would require the student to apply to and be accepted by the MPFM program in order to pursue that degree option.

 

Fall

Session 1

Fall

Session 2

Spring

Session 1

Spring

Session 2

Summer

Session 1

Summer

Session 2

Year 1

PA 631: Public Financial Management

PA 632: Public Funds Management

PA 625: Governmental Accounting and Financial Condition Analysis

PA 627: Governmental Auditing

PA 694: Public Pensions and Insurance

PA 695: Data and Revenue Forecasting

Year 2

PA 683: Tax Policy

PA 626: Applications in Government Accounting and Audit

PA 633: Municipal Securities PA 696: Legal Issues in Public Financial Management PA 697: Special Topics in Public Financial Management PA 681: Capstone Project