School for New Finance Officers
Course Overview
The School for New Finance Officers is a year-long professional development program designed for North Carolina local government finance officers in their first three years of service. The program offers a strong foundation in financial management and public finance law, with an emphasis on statutory compliance, internal controls, communication, and practical operations. Each session includes hands-on assignments designed to strengthen internal processes and build tools participants can immediately use in their own units.
Program Structure
- Kickoff Session (In Person): September 29–30, 2025 | Chapel Hill
- Monthly Virtual Sessions: October 2025 – July 2026 | Zoom (½ to ¾ day)
- Final Session and Graduation (In Person): August 7, 2026 | Chapel Hill
- Monthly Assignments: Applied exercises to build or refine local tools and policies
School for New Finance Officers Agenda
Monday, September 29, 2025
9:00-9:15am: Welcome, Introductions, Overview of Course
All Finance Faculty
9:15-10:00am: Local Government Structures, Functions, and Authorities
Budgeting, Accounting, Revenues, Contracting, and Compliance Framework
Kara Millonzi
10:00-10:15am: Break
10:15-11:30am: Local Government Budget and Fiscal Control Act
Kara Millonzi
11:30-11:45am: Break
11:45-12:15pm: Expenditure Authority
Kara Millonzi
12:15-1:00pm: Lunch
1:00-1:30pm: Expenditure Authority (continued)
1:30-1:45pm: Break
1:45-3:15pm: Revenue Sources
Rebecca Badgett
3:15-3:30pm: Break
3:30-4:30pm: The Sweet Side of Finance
Kara Millonzi
Tuesday, September 30, 2025
9:00-9:15am: Finance Brainstorm
Kara Millonzi
9:15-11:00: Introduction to Fund Accounting and Chart of Accounts
Greg Allison
11:00-11:15: Break
11:15-12:15: Role of the Finance Officer
Kara Millonzi & Greg Allison
12:15-1:00: Lunch
1:00-2:00: Role of the Finance Officer (cont.)
Kara Millonzi & Greg Allison
2:00-2:15: Break
2:15-2:45: Finance Calendar of Duties
Greg Allison
2:45-3:00: Break
3:00-4:00: Transparency in Government Finance
Kara Millonzi
Homework Assignment:
- Develop or update your unit’s calendar of key finance deadlines
- Review chart of accounts and revise if necessary
October 14, 2025 – Accounting and Financial Reporting (Zoom)
- Basics of governmental accounting and reporting
- Required financial statements and reporting deadlines
- LGC and state oversight reporting requirements
Assignment:
- Create or review your year-end financial reporting checklist
November 13, 2025 – Budget Development and Financial Planning (Zoom)
- Statutory requirements for budget preparation and adoption
- Budget format and ordinance structures
- Budget implementation
- Processing budget amendments
- Fund balance and reserve policies
Assignment:
- Draft or update your unit’s fund balance policy
- Create templates for annual, capital, and grant project ordinances
- Create templates for budget amendments (including those done by budget officer and those done by the board)
December 11, 2025 – Internal Controls and Risk Management (Zoom)
- Principles of internal control systems and risk identification
- Designing and documenting effective internal controls
- Month-end processes: bank reconciliations, close-out, internal reviews
- CPI compliance
Assignment:
- Draft or revise your internal controls policy and month-end checklist
January 8, 2026 – Cash Management and Investments (Zoom)
- Official depositories, collateralization, required reporting, selection process
- Daily deposit requirements and processes
- Monitoring deposit activity
- Investment policies and permitted instruments
Assignment:
- Draft or update your cash management and investment policies
February 9, 2026 – Contracts, Preaudit, and Disbursements (Zoom)
- Legal requirements for local government contracting
- Preaudit certification and compliance
- Purchase order thresholds, documentation, and approval workflows
- P-card programs and disbursement controls
Assignment:
- Draft or revise purchasing and p-card policies
- Update contract and purchase approval workflows
March 12, 2026 – Grants Management (Zoom)
- Grant lifecycle management: application through audit
- Compliance with state and federal grant requirements
Assignment:
- Review internal controls for grants and revenue
- Audit existing grants for documentation and compliance
April 13, 2026 – The Annual Audit (Zoom)
- Planning and preparing for the audit
- Responding to audit findings and working with external auditors
- LGC’s audit oversight: follow-up, concerns, and policy requirements
Assignment:
- Create an audit readiness checklist for your unit
May 8, 2026 – Hot Topics
- Hot topics
- Reconciling statutory and GAAP requirements
Assignment:
- TBD
June 9, 2026 – Payroll and Managing the Finance Office (Zoom)
- Payroll compliance and administration
- Benefits, tax reporting, and audit controls
- Building staff capacity, succession planning, and employee recruitment and retention
Assignment:
- Draft or update payroll policy and procedures
July 8, 2026 – Capital Planning, Budgeting, and Financing
- Capital Improvement Program
- Capital Budgets
- Capital Financing Methods
Assignment:
- Create or revise a capital financing guide
August 7, 2026 – Managing Up and Out: Leadership Development (Zoom)
- Communicating effectively with boards and the public
- Building partnerships with internal and external stakeholders
- Strengthening your professional network: NCGFOA, UNC SOG, LGC, and national associations
- Graduation ceremony and celebration picnic
Christa Stansbury
