2. Coordinate efforts to provide low-cost, effective training for financial management personnel. The CFO Council should foster the design and coordination of an extensive array of training options for financial management personnel by May 1994. The Council should seek out low-cost and no- cost training alternatives and reallocate existing training resources in a more cost-effective manner. Agencies should track the training of their personnel, both individually and in aggregate. This tracking should be reported by agencies to the CFO Council beginning in May 1994 to encourage a competition among the agencies and departments for a "best trained staff" award or recognition. In order to improve the qualifications of existing staff and to promote a "lifelong learning" culture, NPR recommends the following possible training alternatives that the CFO Council could adapt to fit agency and personnel needs: --Job rotation or visitation (within various financial management functions of a department, between program and financial functions, with the private sector, or with state and local governments). --Private sector or agency training programs that meet standards for professional accreditation programs. --Other forms of professional development, including continuing education, participation in professional associations, sabbaticals, etc. The CFO Council should establish a continuing professional education (CPE) program for financial managers by October 1994. The program could be developed in collaboration with organizations such as the American Bankers Association, American Institute of Certified Public Accountants, the Association of Government Accountants, and federal agencies offering training programs. Such a program is being considered by the Joint Financial Management Improvement Program. It could be similar to the requirement that persons performing government audits obtain CPE credits. OMB should issue a policy statement on continuing professional education for employees in the field of financial management, and the policy should be included in the OMB and agency Five-Year Financial Management Plans. Supervisors should consider CPE and other training when making promotion decisions.
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