(a) The following individuals with financial oversight responsibility employed as a finance officer by a municipality and who would otherwise be required to have the certified municipal finance officer (CMFO) designation are exempt from the educational requirements leading to the CMFO designation, but shall comply with the continuing educational requirements of § 6-56-404:

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Terms Used In Tennessee Code 6-56-405

  • Board: means the mayor and the aldermen. See Tennessee Code 6-1-101
  • Officer: means the mayor, aldermen, city attorney and city judge. See Tennessee Code 6-1-101
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) An individual designated as a certified government finance manager (CGFM) by the association of government accountants;
(2) An individual designated as a certified public finance officer (CPFO) by the government finance officers association;
(3) An individual licensed as a certified public accountant (CPA) by the state board of accountancy and in active status who has a minimum of five (5) years of primarily governmental experience with at least three (3) of those years in this state.
(b) An individual employed as a municipal finance officer with financial oversight responsibility who would otherwise be required to have the CMFO designation but who is claiming exemption shall send proof of exemption to the comptroller of the treasury. The comptroller shall acknowledge an exemption in an appropriate manner determined by the comptroller. The comptroller shall keep a record of exempted individuals and their continuing education units earned.
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