I’m not a county treasurer. Do I need to complete CPIM credit hours?
Yes, fiscal officers of political subdivisions are required to earn six (6.0) hours of CPIM training and pay an annual $100 CPIM fee.
As outlined in Ohio Revised Code 135.22, any person who makes decisions regarding the deposit or investment of moneys of a subdivision must comply with this CPIM training requirement. In many cases, more than one person from a subdivision may be required to complete CPIM credit hour requirements. Other position titles that typically perform these functions include finance directors, fiscal officers, clerks, and clerk-treasurers.
When considering whether the position is a fiscal officer, please consider the following questions:
If you answered yes to any of these questions and your position is part of a qualifying Ohio political subdivision, you must earn six (6.0) hours of CPIM training each calendar year and pay an annual $100 CPIM fee.
Does my entity qualify as a subdivision for CPIM purposes?
As outlined in Ohio Revised Code 135.22, the following entities are subdivisions:
If you do not fit the criteria outlined above or solely use active deposits, you are required to file an annual exemption, in lieu of earning annual CPIM credit hours. You can file for the exemption through MyCPIM.
If I miss the deadline to complete my required six-hour CPIM credits at the end of a calendar year, can I request an extension?
No. Unfortunately, Ohio law does not provide CPIM administrators with the ability to grant extensions to individuals for purposes of fulfilling CPIM continuing education requirements. If you are a fiscal officer subject to these CPIM requirements, you must complete the six hours and pay the annual fee before the end of the calendar year to comply.
If you find yourself in this situation, please contact us at [email protected] to discuss how CPIM may provide a path to bring your account “up-to-date” and resolve the deficit. Bringing your account “up-to-date” demonstrates a good faith effort to remedy the situation.
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 complete CPIM credit hours?
No, if you file an exemption pursuant to O.R.C. 135.22(D) as outlined below.
How do I know if I qualify for an exemption from CPIM credit hour requirements?
If a subdivision's public moneys are invested exclusively in any combination of the following:
Please contact your public depository if you have questions regarding the types of investments your subdivision utilizes.
How do I file an exemption from obtaining CPIM credit hours?
Log into your MyCPIM account and select "Exemption Certification" on the task bar at the top of the page.
If you need assistance, please contact [email protected]
Some fiscal officers find value in attending training to learn more about public funds management. If you file an exemption, you are still welcome to attend CPIM programming. To earn hours or when attending in-person, fiscal officers are required to pay the annual $100 fee.
Where can I get training?
CPIM offers training through its in-person conferences, webinars, and the CPIM online catalogue. Third party sources also provide CPIM-approved training such as association-sponsored conferences, seminars, and courses offered by the Auditor of State if CPIM approval is requested and granted.
Do I need training if I hire outside investment managers?
Yes, you are still required to meet CPIM continuing education requirements. If you utilize an investment manager, other legal requirements may apply. We suggest talking with your legal counsel to ensure compliance.