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Frequently Asked Questions

What is CPIM?

Ohio law requires various public financial officials to receive continuing training in the investment and management of public finances.  This law was passed in the wake of a 1994 financial scandal involving investment losses by local governments.  To prevent a repeat of those problems, new training requirements were established by the Ohio Treasury’s Center for Public Investment Management (CPIM).

CPIM provides continuing education to Ohio's public funds managers and their oversight authorities as required by Ohio Revised Code 135.22 and 321.46.  CPIM facilitates the highest standard of comprehensive education and instruction in the areas of finance, investments, cash management (including debt issuance and debt management), ethics, and other topics deemed appropriate by the Ohio Treasurer's office.  

In order to earn required continuing education hours, public funds managers can participate in Ohio Treasurer's CPIM Academy and Boot Camp, CPIM accredited courses sponsored by a professional association, or CPIM Online courses.

Do I need training?

For guidance about this question and others, please review the following “Frequently Asked Questions.”

Are you the treasurer of a subdivision?

treasurer is a person whose duties include making decisions regarding the deposit or investment of moneys of a subdivision.  Other positions that typically perform these functions include finance directors, fiscal officers, clerks, and clerk-treasurers.  (Please note that county treasurers are subject to distinct requirements and are treated separately.)

The following entities are subdivisions:

  • municipal corporation* (except those that have adopted a charter under Article XVIII of the Ohio Constitution and whose charter or ordinances sets forth special provisions respecting the deposit or investment of its public moneys)
  • school district
  • educational service center
  • county school financing district
  • township
  • municipal or school district sinking fund
  • special taxing or assessment district
  • other district or local authority electing or appointing a treasurer

If your responsibilities include making decisions regarding the deposit or investment of moneys for any of the entities listed above, you must earn six (6.0) hours of CPIM training each calendar year and pay a $100 Annual CPIM Certification Fee or annually request certification of a Notice of Exemption.

Are you exercising the functions of a treasurer for a subdivision?

Answer the following questions:
  • Do you have duties regarding the deposit or investment of the moneys of a subdivision?
  • Do you make decisions regarding the deposit or investment of those moneys?
  • Do you hire employees or outside managers to perform the duties regarding the deposit or investment of moneys that you would otherwise be required to perform?

If you said yes to any of these questions, you must earn six (6.0) hours of CPIM training each calendar year and pay a $100 Annual CPIM Certification Fee or annually request certification of a Notice of Exemption.  In many cases, more than one person from a subdivision may be required to attend training.

Our subdivision puts all of its money in STAR Ohio, which is the local government investment pool operated by the Ohio Treasurer’s office. Do I still have to attend training?

No, you may request certification of a Notice of Exemption if the subdivision's public moneys are invested only in the following:
  • STAR Ohio
  • STAR Plus
  • No-load money market mutual funds as defined in the Ohio Revised Code Section 135.14(B)(5) of the Revised Code
  • Interim deposits in the eligible institutions applying for interim money of the subdivision as provided in section 135.08 of the Revised Code (in certificates of deposit, savings accounts, or deposit accounts)

Please contact your public depository if you have questions as to what types of investments your subdivision’s money is being swept.  However, if the subdivision has other investments that are not listed above, then you may not file an exemption and must take the annual training.

What if our subdivision uses sweep accounts to invest public moneys? Do I still need to attend training?

If the subdivision's money is held in an interim deposit account and is swept into any one of the following investments, then you may request certification of a Notice of Exemption:
  • STAR Ohio
  • STAR Plus
  • No-load money market mutual funds as defined in the Ohio Revised Code Section 135.14(B)(5) of the Revised Code
  • Interim deposits in the eligible institutions applying for interim money of the subdivision as provided in section 135.08 of the Revised Code (in certificates of deposit, savings accounts, or deposit accounts)

If the account balance is swept into an investment that is not listed above, then you may not file an exemption and must take the annual training.  Please contact your public depository if you have questions as to what types of investments your subdivision’s money is being swept.

What if I am not sure whether our investments meet the exemption requirement?

Attending training is a great way to learn more about investing public funds.

How do I get an exemption from attending training?

Log into your MyCPIM account and then click on "Exemption Certification" on the light blue task bar at the top of the page.  

Is training a requirement for charter villages or municipalities?

All municipalities must receive training, except those that have adopted a charter under Article XVIII of the Ohio Constitution and whose charter or ordinances set forth special provisions respecting the deposit or investment of its public moneys.

Where can I get training?

The Ohio Treasurer’s office offers training through its Center for Public Investment Management (CPIM) conferences. Information about the CPIM conferences is available on the Ohio Treasurer’s website. CPIM-approved continuing education hours are also available at association-sponsored conferences and training seminars such as the Ohio Government Finance Officers Association (OGFOA) annual conference and the County Treasurers Association of Ohio (CTOA) spring and fall conferences. For information about special conferences offering CPIM credit, please visit (CPIM Schedule). 

FAQ For County Treasurers 

County treasurers have different continuing education requirements than other subdivision treasurers.

What are the continuing education requirements for new County Treasurers?

Newly elected county treasurers must take initial training between December 1 and the time they take office, which ordinarily would be the first Monday of September in the year following the person’s election to the office of County Treasurer.  A new treasurer must take 13 hours of education approved by the Ohio Auditor of State on governmental accounting and portfolio reporting and compliance, and 13 hours approved by the Ohio Treasurer of State on investments and cash management.

A new county treasurer that has been appointed to fill a vacancy in office or elected by a special election must complete initial education requirements within 4 months of receiving the appointment or following the person’s election to county treasurer.

After a year in office, what are the continuing education requirements for county treasurers?

County treasurers must take 24 hours of continuing education every two calendar years after the first year in office. The 24 hours of continuing education must be composed of 12 hours provided or accredited by the Ohio Treasurer of State (CPIM) and 12 hours provided or accredited by the Ohio Auditor of State.

Where can county treasurers receive the required training?

The Ohio Treasurer of State training is available through the Center for Public Investment Management (CPIM). The Ohio Auditor of State training is available through the County Treasurers Association of Ohio.

Do I need training if I hire outside investment managers?

Yes, you are still required to meet the continuing education requirements. Also, outside investment managers must sign the county investment policy. See the Ohio Revised Code §135.35(K)(1).
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