California Municipal Treasurers Association

California Municipal Treasurers Association
Name	California Municipal Treasurers Association
Abbreviation	CMTA
Formation	1953
Type	Nonprofit professional association
Headquarters	Sacramento, California
Region served	California
Membership	Municipal treasurers, finance officers, public sector fiscal professionals
Leader title	President

California Municipal Treasurers Association

The California Municipal Treasurers Association is a nonprofit professional association representing municipal treasurers and public finance officers across California. It provides education, certification, best practices, and policy input related to public fund custody, cash management, and investment activities. The association convenes members through conferences, publications, and partnerships with governmental and financial institutions.

History

The association traces roots to mid-20th century California fiscal reforms and municipal finance modernization efforts tied to post‑World War II expansion, paralleling developments seen in California State Treasurer initiatives, California Public Employees' Retirement System, and county treasury reorganizations such as those in Los Angeles County, San Francisco, and San Diego. Founding leaders included municipal officials influenced by national organizations like the Government Finance Officers Association and the California Society of Municipal Finance Officers while responding to state legislation including provisions akin to the Davis–Stirling Common Interest Development Act era policy shifts. Over decades the association adapted to crises and reforms linked to events such as the California electricity crisis, municipal bankruptcy precedents like City of Vallejo bankruptcy, and statewide fiscal constraints addressed during governorships of Ronald Reagan (California Governor), Jerry Brown, and Gray Davis. Expansion of activities paralleled federal regulatory changes from institutions such as the Securities and Exchange Commission, Municipal Securities Rulemaking Board, and statutes influenced by the Governmental Accounting Standards Board.

Mission and Activities

The association's stated mission emphasizes safe, efficient public fund management, transparency, and professional competency, aligning with standards promulgated by entities like the American Institute of Certified Public Accountants, California State Auditor, and county treasurer tax collectors in jurisdictions such as Alameda County. Core activities include publishing model policies informed by research from Federal Reserve Bank of San Francisco, coordinating peer networks similar to International City/County Management Association sections, and offering guidance during fiscal events comparable to the 2008 financial crisis and COVID‑19 pandemic response under administrations like Gavin Newsom. The association collaborates on cash investment strategies referencing instruments regulated by the U.S. Department of the Treasury and practices adopted by municipal issuers in cities including Sacramento, Oakland, and Beverly Hills.

Membership and Governance

Membership comprises appointed municipal treasurers, assistant treasurers, finance directors, and treasury analysts from counties, cities, special districts, and joint powers authorities such as Metropolitan Water District of Southern California. Governance typically follows a board structure with elected officers (president, vice president, secretary, treasurer) and committee chairs drawn from members representing jurisdictions like San Jose, Long Beach, and Irvine. Ethical and fiduciary standards reference model codes from organizations like the California Association of Public Authorities and training expectations comparable to certifications administered by the Association of Public Treasurers of the United States and Canada.

Education, Certification, and Professional Development

The association administers continuing education aligned with programs offered by the University of California, Berkeley Extension, California State University, Sacramento, and professional bodies such as the American Bankers Association. Certification pathways emphasize investment policy, cash flow forecasting, and internal controls, reflecting competency frameworks similar to the Certified Public Accountant and municipal treasury credentials promoted by the Association of Financial Professionals. Courses address compliance with laws and regulations influenced by the California Constitution provisions on public funds, and case studies include fiscal episodes in municipalities like Stockton, California and San Bernardino (city).

Conferences and Publications

Annual conferences attract speakers from the Federal Reserve Board, U.S. Treasury Department, state agencies such as the California Department of Finance, and municipal officials from jurisdictions like Palo Alto and Santa Monica. Proceedings and newsletters disseminate model investment policies, treasury operational checklists, and research summaries referencing analyses from think tanks like the Public Policy Institute of California and academic centers at Stanford University and University of California, Berkeley. Special topic seminars have focused on municipal bond market dynamics involving issuers listed with the Municipal Securities Rulemaking Board and credit rating discussions with agencies such as Moody's Investors Service and Standard & Poor's.

Advocacy and Policy Positions

The association advocates on statutory and regulatory matters affecting municipal treasury operations, engaging with the California Legislature, offices of the Governor of California, and regulatory bodies including the California State Treasurer's Office. Policy positions often address cash investment constraints, collateralization rules for bank deposits, and reforms to disclosure practices in municipal securities markets—issues also considered by entities like the Securities and Exchange Commission and the Municipal Securities Rulemaking Board. The association submits comment letters, provides testimony to legislative committees, and participates in interagency working groups alongside organizations such as the League of California Cities and the California State Association of Counties.

Partnerships and Affiliations

The association maintains partnerships with national and state organizations including the Government Finance Officers Association, Association of Public Treasurers of the United States and Canada, California Municipal Finance Officers', the Public Funds Investment Research Institute, and educational institutions such as California State University, Long Beach and University of Southern California. It collaborates with financial institutions, credit rating agencies, and regulatory advisors including Federal Deposit Insurance Corporation resources and state entities like the California Department of Tax and Fee Administration to support member needs and statewide best practices.

Category:Professional associations based in California