Association of Public Treasurers of the United States and Canada
Encyclopedia
Association of Public Treasurers of the United States and Canada (APTUSC) is the professional society of active public treasurers of counties, provinces, cities, and special districts in the United States and Canada. It sets ethical standards for the treasury profession in state and local government
.
The treasurer
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.
, sales tax
, income tax
, utility users tax (UUT), transient occupancy tax (hotel occupancy), and user fees such as licensing and permit fees.
Many Treasurers are elected, and are therefore directly accountable to their constituents; the remainder are appointed either by City Council or City Manager.
, bond sales, management skills, communications, and legislation
.
I. Purpose - This Code
of Professional Ethics ensures a uniform adherence to the Association’s longstanding policies related to legal, moral and professional standards of conduct. This code also informs the public
at large as to how the Association approaches matters involving ethics. The principles set forth in this code shall govern the conduct of all members of APTUSC.
II. Fiduciary Responsibility - A member shall exercise prudence and integrity in the management of funds in their custody and in all financial transactions for which they are responsible.
III. Responsibility as Public Officials - A member shall adhere to concepts of effective and efficient local government service being provided by elected and appointed Public Treasurers. A member shall conduct himself or herself at all times in a manner which serves the public interest
and maintains the good reputation of the profession. A member shall uphold the letter and spirit of the law
and report violations of the law to the appropriate authorities.
IV. Professional Development - A member shall observe professional technical standards and continually strive to acquire knowledge and improve levels of competence in Treasury management. A member shall strive to enhance the competence of colleagues and encourage those seeking to enter the field of Public Treasury.
V. Professional Integrity – Information - A member shall respect and protect privileged information. A member shall conduct government
openly so the public may make informed judgments and hold public officials accountable. A member shall be sensitive and responsive to inquiries from the public and the media.
VI. Professional Relationships - A member shall maintain the highest ideals of honor, integrity, and objectivity in all professional relationships.
VII. Conflict of Interest - A member shall not seek any favor or accept any personal gain which would influence, or appear to influence, objectivity or conduct of official duties.
VIII. Member Misconduct - The Association shall not accept or condone unethical conduct under any circumstances. A member found by the Board of Directors to be in violation of any provision of this Code of Ethics shall be expelled from membership for a length of time to be determined by the Board and, if the member holds the designation of CPFA, such designation shall be revoked.
Local government
Local government refers collectively to administrative authorities over areas that are smaller than a state.The term is used to contrast with offices at nation-state level, which are referred to as the central government, national government, or federal government...
.
The treasurer
Treasurer
A treasurer is the person responsible for running the treasury of an organization. The adjective for a treasurer is normally "tresorial". The adjective "treasurial" normally means pertaining to a treasury, rather than the treasurer.-Government:...
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 taxProperty tax
A property tax is an ad valorem levy on the value of property that the owner is required to pay. The tax is levied by the governing authority of the jurisdiction in which the property is located; it may be paid to a national government, a federated state or a municipality...
, sales tax
Sales tax
A sales tax is a tax, usually paid by the consumer at the point of purchase, itemized separately from the base price, for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale....
, income tax
Income tax
An income tax is a tax levied on the income of individuals or businesses . Various income tax systems exist, with varying degrees of tax incidence. Income taxation can be progressive, proportional, or regressive. When the tax is levied on the income of companies, it is often called a corporate...
, utility users tax (UUT), transient occupancy tax (hotel occupancy), and user fees such as licensing and permit fees.
Many 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
APTUSC offers a Certified Public Finance Administrator (CPFA) certification program. CPFA 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. CPFA 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
APTUSC has technical and professional committees that deal with issues facing treasurers, their agencies and the public. APTUSC also provides web-based technical support resources, educational material, conferences and technical publications for its members. APTUSC's annual conferences provide an array of education across many topics and are held annually between various locations. The association conducts workshops to provide training and education on investments, cash managementCash management
In United States banking, cash management, or treasury management, is a marketing term for certain services offered primarily to larger business customers...
, bond sales, management skills, communications, and legislation
Legislation
Legislation is law which has been promulgated by a legislature or other governing body, or the process of making it...
.
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:I. Purpose - This Code
Code
A code is a rule for converting a piece of information into another form or representation , not necessarily of the same type....
of Professional Ethics ensures a uniform adherence to the Association’s longstanding policies related to legal, moral and professional standards of conduct. This code also informs the public
Public
In public relations and communication science, publics are groups of individuals, and the public is the totality of such groupings. This is a different concept to the sociological concept of the Öffentlichkeit or public sphere. The concept of a public has also been defined in political science,...
at large as to how the Association approaches matters involving ethics. The principles set forth in this code shall govern the conduct of all members of APTUSC.
II. Fiduciary Responsibility - A member shall exercise prudence and integrity in the management of funds in their custody and in all financial transactions for which they are responsible.
III. Responsibility as Public Officials - A member shall adhere to concepts of effective and efficient local government service being provided by elected and appointed Public Treasurers. A member shall conduct himself or herself at all times in a manner which serves the public interest
Public interest
The public interest refers to the "common well-being" or "general welfare." The public interest is central to policy debates, politics, democracy and the nature of government itself...
and maintains the good reputation of the profession. A member shall uphold the letter and spirit of the law
Law
Law is a system of rules and guidelines which are enforced through social institutions to govern behavior, wherever possible. It shapes politics, economics and society in numerous ways and serves as a social mediator of relations between people. Contract law regulates everything from buying a bus...
and report violations of the law to the appropriate authorities.
IV. Professional Development - A member shall observe professional technical standards and continually strive to acquire knowledge and improve levels of competence in Treasury management. A member shall strive to enhance the competence of colleagues and encourage those seeking to enter the field of Public Treasury.
V. Professional Integrity – Information - A member shall respect and protect privileged information. A member shall conduct government
Government
Government refers to the legislators, administrators, and arbitrators in the administrative bureaucracy who control a state at a given time, and to the system of government by which they are organized...
openly so the public may make informed judgments and hold public officials accountable. A member shall be sensitive and responsive to inquiries from the public and the media.
VI. Professional Relationships - A member shall maintain the highest ideals of honor, integrity, and objectivity in all professional relationships.
VII. Conflict of Interest - A member shall not seek any favor or accept any personal gain which would influence, or appear to influence, objectivity or conduct of official duties.
VIII. Member Misconduct - The Association shall not accept or condone unethical conduct under any circumstances. A member found by the Board of Directors to be in violation of any provision of this Code of Ethics shall be expelled from membership for a length of time to be determined by the Board and, if the member holds the designation of CPFA, such designation shall be revoked.
See also
- California Municipal Treasurers Association (CMTA)California Municipal Treasurers AssociationCalifornia Municipal Treasurers Association is the professional society of active public treasurers of California counties, cities, and special districts. It sets ethical standards for the treasury profession in state and local government in California....
- GASBGASBGASB may refer to:* Governmental Accounting Standards Board * Gallium antimonide...
- Public FinancePublic financePublic finance is the revenue and expenditure of public authoritiesThe purview of public finance is considered to be threefold: governmental effects on efficient allocation of resources, distribution of income, and macroeconomic stabilization.-Overview:The proper role of government provides a...
- State GovernmentState governmentA state government is the government of a subnational entity in a federal form of government, which shares political power with the federal or national government. A state government may have some level of political autonomy, or be subject to the direct control of the federal government...
- State TreasurerState TreasurerIn the state governments of the United States, 49 of the 50 states have the executive position of treasurer. Texas abolished the position of Texas State Treasurer in 1996....
- United States Department of the TreasuryUnited States Department of the TreasuryThe Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...