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City Finance Lab is a blended learning program that combines three online, on-demand courses in MemberLearn with a one-day, in-person session in either St. Paul or St. Cloud. Complete the online courses at your convenience before attending the in-person session.
Online, On-Demand Courses Agenda
Nov. 12: MemberLearn courses open
Note: Courses do not expire, and participants can review content on-demand, even after the program ends.
- Welcome video (Approx. 15 min)
- Fund Accounting (Approx. 15 min) This course is an introduction to the three primary types of funds that cities operate with: government funds, proprietary funds, and fiduciary funds.
- Chart of Accounts (Approx. 15 min) This course introduces chart of accounts by explaining their core components and showing how they ensure consistent, accurate financial reporting.
- Finance: The Budgeting Process (Approx. 15 min) This course gives you an overview of publication requirements and dates; deliverables for county and state officials; and best practices for documentation as a form of communication to the council and the public.
Classroom Agenda
*All sessions will be presented by Victoria Holthaus, CPA, partner, Abdo Financial Solutions; and Annette Storm, CPA, senior manager, Abdo Financial Solutions, unless otherwise noted.
In-person session: Nov. 18 (St. Cloud) or Nov. 19 (St. Paul)
8 a.m.
Welcome & Check-in opens
8:30 a.m.
Welcome remarks
8:45 a.m.
Accounting Basics
This session builds upon concepts covered in the Fund Accouting and Chart of Accounts MemberLearn courses.
Start out strong with the basics in accounting! You’ll review fund accounting, coding expenditures, tracking revenue, and making deposits. Dive in with practical examples of managing these important financial elements for your city.
9:50 a.m.
Break
10:05 a.m.
Preparing Payroll
*Speaker: Robyn James, senior manager, Abdo Financial Solutions
All city employees should be paid through payroll and have appropriate taxes and other withholdings taken out. Your city likely uses special software to run your payroll. Learn the important factors in ensuring that employees get paid accurately and on time.
10:50 a.m.
Bank Reconciliation
Bank Reconciliation is the process of matching deposits and withdrawals on the bank statement with the balance in the cash account in the city’s accounting software. In this tabletop exercise you will practice performing a Bank Reconciliation and learn where common errors occur.
11:30 a.m.
Lunch
12:15 p.m.
Budgeting
This session builds upon concepts covered in The Budgeting Process MemberLearn course.
Learn the key steps for setting and adopting the city budget, who is involved in the budget process, and what happens after the budget is adopted.
1:15 p.m.
Reporting and Auditing with the Office of the State Auditor
*Speaker: TBD, Office of the State Auditor
All cities have annual financial reporting obligations to the State Auditor. In addition, your city may require an annual audit. In this hour session you’ll gain insight into determining whether you need an audit, the auditing process and how to prepare for an audit, as well as learn which reports your city is required to file.
2:15 p.m.
Break
2:25 p.m.
Council Communications, Borrowing, and Investing Money
Rounding out city finance operations includes knowing how to issue debt and invest funds. You will also learn how to communicate your budget and financial standing to your council. This session helps you navigate these areas to set you up for success.
3:15 p.m.
Break
3:30 p.m.
Using City and Town Accounting Software with the Office of the State Auditor
*Speaker: TBD, Office of the State Auditor
Cities with a population under 2,500 may choose to use the City and Town Accounting Software (CTAS) provided by the Office of the State Auditor. In this hour session you will get a hands on demonstration of how to best utilize this software to make your accounting easier.
4:30 p.m.
Adjourn