Main Content
Syllabus
PADM 522: Government Financial Management (3 credits). A study of the theories and techniques of financial planning and control, with emphasis on their application in government and nonprofit agencies.
Overview | Objectives | Library Resources | Technical Specifications | Materials | Course Requirements | Grading | Course Schedule | Academic Integrity | Diversity, Equity, Inclusion, and Belonging | University Policies
Course Overview
This course builds on state and local government budgeting concepts and financial management analytical techniques presented in PADM 502: Fiscal Decision Making. The course introduces the World Campus students to the theories and techniques of financial planning and control, with emphasis on their application in government and nonprofit sectors. The prerequisite for the course is PADM 502. This course is designed to provide a more in-depth public financial management base for those students who are interested in a career in public financial management or in public financial management consulting.
In this course, you will gain in-depth experience in all the major government financial management activities and be able to apply selected analytical tools to financial cases involving the allocation and control of public funds. Those activities include budgeting, accounting and reporting, and risk management. The tools for applying budgeting and accounting concepts include financial planning (forecasting, resource analysis, and cost analysis); financial implementation (financial performance monitoring and cash management); financial reporting and analysis (statement of net assets and statement of net position, statement of activities, fund-level statements); financial condition analysis, debt capacity, and risk assessment. Students should be familiar with Excel. Some assignments involve relatively simple math using Excel, and students will be expected to produce tables and charts in Excel spreadsheets.
Each lesson will typically be organized into three sections:
- The first section will provide a general overview of the topical area covered in the class lesson and outline the learning objectives of the lesson.
- The second section will (a) introduce the required readings connected with the lesson and (b) illustrate key concepts covered in the readings.
- The final section will provide a summary and review of the topics and concepts discussed in the lesson and introduce an assignment that is related to one or more of these topics or concepts.
The prerequisite for the course is PADM 502. Students will be enrolled from a wide variety of undergraduate majors.
*Note: Penn State provides free video tutorials. You can learn Excel online at LinkedIn Learning.
Course Objectives
This course is designed to increase the ability of students to
- identify and describe the methods of forecasting revenue and expenditures and their application;
- analyze the amount of revenue resources that are available and apply resource development analysis;
- identify the various elements of cost management and conduct cost analyses;
- determine financial performance indicators and apply them to selected revenue sources;
- create a cash budget and determine the causes of underperformance;
- conduct an in-depth financial condition analysis that describes the present budgetary general fund revenue condition and provides financial data to support conclusions;
- explain the relationship between the operating and capital budgets;
- construct a balanced budget;
- identify and describe components of a capital improvement plan;
- describe the elements of public sector accounting principles and standards;
- apply governmental accounting standards to a specific public finance situation;
- identify and describe the components of a financial report;
- identify financial ratios and conduct a financial condition analysis;
- analyze long-term debt capacity; and
- conduct a revenue loss risk assessment.
For more details on the course content, go to the Course Schedule.
Library Resources
Many of the University Libraries resources can be utilized from a distance. Through the Libraries website, you can
- access magazine, journal, and newspaper articles online using library databases;
- borrow materials and have them delivered to your doorstep—or even your desktop;
- get research help via email, chat, or phone using the Ask a Librarian service; and
- much more.
You must have an active Penn State Access Account to take full advantage of the Libraries' resources and service. The Off-Campus Users page has additional information about these free services.
Public Administration Research Guide
We have created a Public Administration Research Guide with the help of the Penn State University Libraries. The guide helps you find high-quality information and is created by librarians who are subject specialists in public administration. Specially, it provides you with access to databases for Journal Articles, Policy Papers, U.S. Government Information, Statistics and Polls, Reference Resources, and Current Periodicals.
Technical Specifications
| Operating System | Canvas, Penn State's Learning Management System (LMS), supports most recent versions of Microsoft Windows and Apple Mac operating systems. To determine if your operating system is supported, please review Canvas' computer specifications. |
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| Browser | Canvas supports the last two versions of every major browser release. It is highly recommended that you update to the newest version of whatever browser you are using. Note: Cookies must be enabled, and pop-up blockers should be configured to permit new windows from Penn State websites. |
| Additional Canvas Requirements | For a list of software, hardware, and computer settings specifically required by the Canvas LMS, please review Canvas' computer specifications. |
| Additional Software | All Penn State students have access to Microsoft Office 365, including Microsoft Office applications such as Word, Excel, and PowerPoint. |
| Hardware | Monitor: Monitor capable of at least 1024 x 768 resolution |
| Mobile Device (optional) | The Canvas mobile app is available for versions of iOS and Android. To determine if your device is capable of using the Canvas Mobile App, please review the Canvas Mobile App Requirements. |
Student Education Experience Questionnaire (SEEQ)
During the semester you will receive information for completing the Student Education Experience Questionnaire (SEEQ). Your participation is an opportunity to provide anonymous feedback on your learning experience. Your feedback is important because it allows us to understand your experience in this course and make changes to improve the learning experiences of future students. Please monitor email and course communications for links and availability dates.
Course Materials
Most World Campus courses require that students purchase materials (e.g., textbooks, specific software, etc.). To learn about how to order materials, please see the Course Materials page. You should check LionPATH approximately 3–4 weeks before the course begins for a list of required materials.
Textbooks
E-Book Option: An online version of one or more of your texts is available at no cost as a Penn State Library E-Book. Some E-Books will only be available online, while others will be available to download in full or in part. You may choose to use the E-Book as an alternative to purchasing a physical copy of the text. You can access the E-Book by selecting the Library Resources link on the course navigation, and then selecting the E-Reserves link. For questions or issues, you can contact the University Libraries Reserve Help (UL-RESERVESHELP@LISTS.PSU.EDU).
Additional Resources
Useful Websites
- American Society of Public Administration
- International City Managers Association
- Office of Management and Budget
- Congressional Budget Office
- Governmental Accounting Standards Board (GASB)
- Government Finance Officers Association
- National Tax Association
- Economic Report of the President
- U.S. Treasury
- Internal Revenue Service (IRS)
- Government Accountability Office
- Governing magazine
Library E-Reserves
This course requires that you access Penn State library materials specifically reserved for this course. You can access these materials by selecting Library Resources in your course navigation, or by accessing the Library E-Reserves Search and search for your instructor's last name.
The materials listed below will be available on the Library E-Reserves.
Course Requirements
Learning outcomes are evaluated in five ways:
- Case analyses: These provide ample opportunity to assess analytical ability through mathematical calculations and written analysis of calculations in assignments.
- Problem/exercise challenges: There are seven short assignments that give you an opportunity to apply the financial management techniques and concepts you learned in the lessons to build your analytical skills. Each problem/exercise challenge focuses on a financial skill or skills required of most finance and management professionals in public service. Both financial analysis and problem solving will be stressed. Be sure to read the problem/exercise challenge carefully, apply the appropriate technique or concept, and fully answer the question.
- Group discussion participation: These discussions enhance students' ability to identify issues in governmental financial management and demonstrate problem-solving skills.
- Research project: This assignment assesses the ability to summarize and communicate research.
- Written final examination: This examination assesses students' ability (a) to explain the relationship between the operating and capital budgets, (b) to describe the elements of public sector accounting, and (c) to identify and describe the components of a financial report.
Requirement 1: Analysis Paper
As part of the course, you are required to complete four two-page, double-spaced assignments that are related to the course material introduced in the lessons. These assignments will give you the opportunity to apply the concepts and analytical tools and techniques you have learned in a particular lesson. These assignments must be completed and submitted on an individual basis.
To receive full credit, you must do the following:
- Submit the assignment on time. Your grade will be reduced by 5% for each day the assignment is late.
- Meet all the stated requirements. Failure to do so may result in additional deductions from the assignment grade.
Requirement 2: Problem/Exercise Challenges
There will be seven problem/exercise challenges:
- Lesson 2 (1 point): Complete Chapter 3 Problem #2 on balanced budget in Coe, pp. 93–94. Analyze the projected general fund revenue and expenditures in the context of a balanced budget and without expenditure cuts. Write a one-page, single-spaced summary of the revenue options and the implications of the options on service delivery.
- Lesson 3 (1 point): Complete Chapter 6 Assignment #3, Calculations, in Wang, p. 79. In Excel, use the 5% discount rate to compute the NPV for both projects, and then compute the NPV for both projects with a 10% discount rate. Based on your calculations, write a short, single-spaced paragraph to summarize the economic feasibility of the two projects.
- Lesson 6 (1 point): Complete Chapter 2 Problem #2 in Coe, p. 44. Write a one-page, double-spaced summary of what fund types should be broken out in the city’s general fund and what individual funds you would recommend.
- Lesson 8 Cost of Operation Exercise (3 points): Complete Exercise #5, Cost of Operations, in Wang, p. 52. Go to the Financial Section of your chosen ACFR. Access the Statement of Activities. Using Excel, complete assignments 1–5. Write the narrative in numbers 4–5 on the Excel spreadsheet.
- Lesson 8 Present Value Analysis Exercise (2 points): Complete Exercise #5, Present Value Analysis: Lease or Buy, in Wang, p. 61. In Excel, analyze whether it would be more cost efficient to buy or lease the printer.
- Lesson 9 (2 points): Complete Exercise #6 Forecasting Franchise Tax in Sunbelt, in Wang, p. 19. In Excel, forecast the franchise tax revenue for years 10–12. Write a single-spaced, two-paragraph report in the Excel spreadsheet summarizing the implications of your forecast.
- Lesson 11 (3 points): Complete Exercise #3, in Wang, pp. 196–197. In Excel, calculate the risk of each source and the revenue portfolio risk ratio. Write a single-spaced, three-paragraph summary in the Excel spreadsheet on the ways to reduce the identified risks.
Requirement 3: Group/Class Discussions
You will be assigned to a group for discussion activities. You will first discuss the answers to the questions and explore a new question on the same topic with your group members. Once your group has come up with a consensus, please assign one person to post the results of your discussions to a class discussion space (indicating the group number) no later than Thursday, 11:59 p.m. (ET). Each group must provide two sources of evidence for its argument. Then, from Friday to Sunday, you have to read and make comments individually on all other groups' postings. The grading for group/class discussions incorporates your group's performance and your individual contribution to the discussions.
Your contribution in the discussions will become part of the group/class discussion grade. The grade has two components: the quality and the quantity of the debate. Those not actively participating regularly will not do well in this component of the grade. Criteria for evaluating participation in the discussion questions include
- responding directly to the question asked;
- asking a completely different question (on the same topic);
- answering a question posted by another student; and
- responding to a comment made by a different student and building on that comment to continue the topic initiated by the professor.
Requirement 4: Research Project
In your individual research paper, you will use selected ratios in Wang Chapter 12 to
- examine and analyze the general fund revenues of a state or local government and investigate what the literature says are the current issues pertaining to the general fund revenues, and
- interview managers and elected officials from at least two local jurisdictions or from state government and obtain their views on taxation in general, appropriate taxation measures, and what they believe will be or are the most important current issues/risks in a state or local government general fund tax-revenue policy. (Note: Interviews can be conducted via e-mail, telephone, and/or face-to-face.)
You need to
- thoroughly review the professional literature surrounding and relevant to tax revenue (income, sales, property), detailing what is known (and unknown) about the topic;
- analyze the tax structure of the local government or state government; and
- reflect critically upon the issues that underlie your study findings using data and information you have gathered.
The paper is to be 10 pages (exclusive of charts and graphics) and double-spaced, plus (a) footnotes/endnotes, (b) bibliography, and (c) an introductory one-page abstract.
You need to include the following two deliverables for your research project:
Deliverable 1: Research Proposal Outline
A one-page Research Proposal Outline is due by the end of Lesson 2. It is to state briefly but clearly (a) the chosen study city, state, or nonprofit; (b) your planned approach; and (c) three specific sources (same detail as a bibliographic entry) that you plan to use. A one-page proposal will be adequate. The approach should be specific enough to be able to be covered adequately in a 10-page paper.
Deliverable 2: Research Paper
You will choose your bibliographic materials, but you are required to discuss your selections and the direction of your paper with me at least once by Lesson 3 (it may be helpful to talk via e-mail as you prepare your proposal). Do not rely on the textbooks, news magazines, or newspapers; rather, use professional journals and books for your major resources. There will be differences in the nature and extent of the literature on the topic, but in general you should have at least six references (excluding any texts or newspapers and news magazines). The paper must be typed, and you are to follow the Publication Manual of the American Psychological Association for guidance on margins, headings, footnotes, bibliography, and so on. Do not overlook paper headings; they are very helpful to the author and the reader.
Criteria for the Paper
In addition to a solid bibliography, I will be looking for
- a clear statement of the study topic and purpose;
- the findings or conclusions of the existing literature (including any disagreements or differences) and their basis;
- the details of your own research on the topic; and
- your own conclusions, including study implications for public policy/public financial management.
The particular ideas or conclusions that you draw from your research are not as important to me as your analysis and how you arrive at your conclusions (i.e., the soundness of your reasoning and the quality of the resources you draw upon to support your conclusions).
Finally, spelling and grammar will be considered.
Your final paper must have, at a minimum, the following:
- a cover page (the title, an abstract with 200 words, your name);
- a one-page introduction (including the purpose, significance, current trend);
- a six-page analysis of the issue;
- a two-page discussion (explore new problems/solutions);
- research suggestions (what should be done to advance our knowledge and practice); and
- a one-page bibliography.
Use the style guide for the American Psychological Association (APA) for proper form. Be sure to include citations for all direct quotes and paraphrases. Turn in all briefing papers as Word files to the appropriate Canvas Assignment by 11:59 p.m. (ET) of the due date.
Here is the University Libraries' brief guide on citing sources in text using APA style.
Requirement 5: Final Examination
The final examination will be scheduled within a one-day period. You can take the final examination at any time within the scheduled period. Be aware that once you begin the exam, you will be given three hours to complete and submit it. It is important that you allow enough time to complete the examination.
The examination is "open book" and will be comprehensive and based on readings, lectures, and discussions. Again, you will have three hours to complete this examination, which includes three broad questions in essay format to evaluate your learning of the major concepts contained in the course. The three questions are broken into several sections, which require you to analyze the issue, apply concepts learned in the course lessons, and use analytical techniques in your analysis and conclusions.
Grading Scheme
All facets of a student's performance are taken into account for grading purposes. The graded activities and the percentage of your course grade associated with the activities are as follows.
| Graded activities | Descriptions | Grade points |
|---|---|---|
| Analysis Papers | Four papers (40@10 points each) | 400 |
| Problem/exercise challenges | Seven problems/exercises | 130 |
| Group/Class discussions | Self-introduction and weekly assigned question discussions | 120 |
| Research project part 1 | Research Proposal Outline | 50 |
| Research project part 2 | Research Paper | 100 |
| Final examination | Question Exam | 200 |
| Total | 1,000 | |
Based on the points earned on each of the graded activities, your course grade will be determined by the scales presented in the following table.
| Percentage | Grade |
|---|---|
| 94.00 and above | A |
| 90.00–93.99 | A- |
| 87.00–89.99 | B+ |
| 83.00–86.99 | B |
| 80.00–82.99 | B- |
| 77.00–79.99 | C+ |
| 70.00–76.99 | C |
| 60.00–69.99 | D |
| Below 60 | F |
Performance is evaluated on the basis of your course work on the assignments listed in the syllabus. Your course grade depends on the points accumulated during the semester. Use the table above to keep a record of your progress.
Note: Your grade on assignments will be reduced by 5% for each day of tardiness in receipt of work by the instructor. Submit your work on time.
Please refer to the University Grading Policy for Graduate Courses for additional information about University grading policies.
Course Schedule
The schedule below outlines all activities and topics we will cover in this course, along with the associated time frames and assignments. Each lesson covers one week. As you study each week's lesson, please focus on the specific list of learning activities for that lesson.
Note: All due dates reflect North American eastern time (ET).
- Course begins on
- Course ends on
- Course length: 16 weeks
Note: The due dates for the assignments are noted in the Course Schedule section of the syllabus. Deadlines will be defined as 11:59 p.m. (ET) on the last day of the lesson timeframe, unless noted differently.
| Time frame: | Week 7 |
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| Time frame: | Week 13 |
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| Time frame: | Week 15 |
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Please be aware that you have three hours to complete this final exam and are given only one attempt. Once you open the exam, you must complete it. If you navigate away, the timer will continue running, and the exam will auto-submit when the time runs out. Please make sure that you upload your answer file before the time is up. You should indicate your full name in your exam file name (e.g., allansmith_exam.docx). |
Academic Integrity
According to Penn State policy G-9: Academic Integrity , an academic integrity violation is “an intentional, unintentional, or attempted violation of course or assessment policies to gain an academic advantage or to advantage or disadvantage another student academically.” Unless your instructor tells you otherwise, you must complete all course work entirely on your own, using only sources that have been permitted by your instructor, and you may not assist other students with papers, quizzes, exams, or other assessments. If your instructor allows you to use ideas, images, or word phrases created by another person (e.g., from Course Hero or Chegg) or by generative technology, such as ChatGPT, you must identify their source. You may not submit false or fabricated information, use the same academic work for credit in multiple courses, or share instructional content. Students with questions about academic integrity should ask their instructor before submitting work.
Students facing allegations of academic misconduct may not drop/withdraw from the affected course unless they are cleared of wrongdoing (see G-9: Academic Integrity ). Attempted drops will be prevented or reversed, and students will be expected to complete course work and meet course deadlines. Students who are found responsible for academic integrity violations face academic outcomes, which can be severe, and put themselves at jeopardy for other outcomes which may include ineligibility for Dean’s List, pass/fail elections, and grade forgiveness. Students may also face consequences from their home/major program and/or The Schreyer Honors College.
How Academic Integrity Violations Are Handled
World Campus students are expected to act with civility and
personal integrity; respect other students' dignity, rights, and
property; and help create and maintain an environment in which all
can succeed through the fruits of their own efforts. An environment
of academic integrity is requisite to respect for oneself and
others, as well as a civil community.
In cases where academic integrity is questioned, the Policy on Academic Integrity indicates that procedure requires an instructor to inform the student of the allegation. Procedures allow a student to accept or contest a charge. If a student chooses to contest a charge, the case will then be managed by the respective college or campus Academic Integrity Committee. If that committee recommends an administrative sanction (Formal Warning, Conduct Probation, Suspension, Expulsion), the claim will be referred to the Office of Student Accountability and Conflict Response.
All Penn State colleges abide by this Penn State policy, but review procedures may vary by college when academic dishonesty is suspected. Information about Penn State's academic integrity policy and college review procedures is included in the information that students receive upon enrolling in a course. To obtain that information in advance of enrolling in a course, please contact us by going to the Contacts & Help page .
Diversity, Equity, Inclusion, and Belonging
Equity at Penn State
Penn State is committed to and accountable for advancing diversity, equity, inclusion, and belonging in all its forms. Educational Equity's vision is a Penn State community that is an inclusive and welcoming environment for all.
Fostering Diverisity, Equity, Inclusion, and Belonging
Diversity, equity, inclusion, and belonging (DEIB) are foundational elements of Penn State’s academic, research, and land grant missions. Creating an environment that welcomes community members from all identities, backgrounds, and walks of life while providing equitable opportunities for all Penn Staters to thrive as their authentic selves is central to President Bendapudi’s vision for the University.
Penn State takes great pride to foster a diverse and inclusive environment for students, faculty, and staff. Acts of intolerance, discrimination, or harassment due to age, ancestry, color, disability, gender, gender identity, national origin, race, religious belief, sexual orientation, or veteran status are not tolerated and can be reported through Educational Equity via the Report Bias webpage.
Diversity Statements
Each course in the MPA program strives to be an inclusive community, learning from the many perspectives that come from different backgrounds and beliefs. Our goal as a learning community is to be respectful to all—all students' learning needs should be addressed, and the diversity that students bring to the learning community should be viewed as a resource, strength, and benefit.
University Policies
Late Policy
Late Assignments will not be accepted. It is your responsibility to contact the instructor prior to the due date of an assignment if you are aware of extenuating circumstances that will impact your ability to meet a deadline. The instructor will determine if alternative arrangements may be made.
Blank or Erroneous Assignment Submissions
It is your responsibility to ensure that you have uploaded the correct document to each assignment prior to the assignment due date. Please check your assignment submission immediately after uploading a file in Canvas to ensure that it contains content and is the correct file. If you notice an error, such as a blank or incorrect file, you must resubmit the assignment before the assignment due date. Similarly, you are responsible for ensuring that discussion forum initial posts are not blank and that any website URL submissions (such as links to documents, video recordings, etc.) have the correct sharing settings enabled so that they can be viewed by recipients. Any blank or erroneous submissions that you have not resubmitted by the assignment due date will receive a zero for the assignment.
Accommodating Disabilities
Penn State welcomes students with disabilities into the University's educational programs. Every Penn State campus has resources for students with disabilities. The Student Disability Resources (SDR) website provides contacts for disability services at every Penn State campus. For further information, please visit the SDR website.
In order to apply for reasonable accommodations, you must contact the appropriate disability resources office at the campus where you are officially enrolled, participate in an intake interview, and provide documentation based on the documentation guidelines. If the documentation supports your request for reasonable accommodations, your campus's disability resources office will provide you with an accommodation letter. Please share this letter with your instructors and discuss the accommodations with them as early in your courses as possible. You must follow this process for every semester that you request accommodations.
Mental Health Services
If you have a crisis or safety concern, mental health services are available to you as a Penn State student. Crisis and emergency contacts are available, no matter where you are located:
- Anywhere in the United States: Call the Penn State Crisis Line at 1-877-229-6400 or text LIONS to 741741. You can also contact your local crisis services or hospital for emergencies.
- Outside the United States: Please contact emergency services in your current location. You can also use the International Crisis and Emergency Services listings.
- At University Park: Assistance is available at Counseling & Psychological Services (CAPS) locations on campus.
- At a Penn State branch campus: You can search for counseling information at your campus.
Veterans and Military Personnel
Veterans and currently serving military personnel and/or dependents with unique circumstances (e.g., upcoming deployments, drill/duty requirements, VA appointments, etc.) are welcome and encouraged to communicate these, in advance if possible, to the instructor in the case that special arrangements need to be made.
Privacy Notice
In order to protect your privacy, course access is limited to those individuals who have direct responsibility for the quality of your educational experience. In addition to the instructor, a teaching assistant or college administrator may be provided access in order to ensure optimal faculty availability and access. World Campus technical staff may also be given access in order to resolve technical support issues.One Year Course Access
Formal instruction will end on the last day of class. Provided that you have an active Penn State Access Account user ID and password, you will continue to be able to access the course materials for one year, starting from the end date of the academic semester in which the course was offered (with the exception of library reserves and other external resources that may have a shorter archival period). After one year, you might be able to access the course based on the policies of the program or department offering the course material, up to a maximum of three years from the end date of the academic semester in which the course was offered. For more information, please review the University Course Archival Policy.
Additional Policies
For information about additional policies regarding Penn State Access Accounts; credit by examination; course tuition, fees, and refund schedules; and drops and withdrawals, please see the World Campus Student Center website.