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Ethics in the Treasury

Ethics in the Treasury. Securing and Maintaining the Public Trust California Municipal Treasurers Association Presented By: Michael D. Martello Special Counsel, Ethics Project Institute for Local Government April 22, 2011 San Diego. ILG Mission: Promote good government CMTA Code #2.

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Ethics in the Treasury

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  1. Ethics in the Treasury Securing and Maintaining the Public Trust California Municipal Treasurers Association Presented By: Michael D. Martello Special Counsel, Ethics Project Institute for Local Government April 22, 2011 San Diego

  2. ILG Mission: Promote good government • CMTA Code #2

  3. Session Objectives • Provide tools for analyzing ethical dilemmas • Identify steps to take to promote good government in your office and beyond • Share resources (and get your input)

  4. Ultimate Objectives Your success & happiness as a public servant Prevent missteps Public trust

  5. What to Do? Sources of guidance CMTA Code Law Other examples Long-term versus short-term thinking

  6. Thomas Jefferson • “Honesty is the first chapter in the book of wisdom”

  7. A Framework:Ethics VersusEthics Laws

  8. Ethics Versus Ethics Laws • Ethics = what we ought to do • Laws = what we must do • Penalties—Sometimes severe • Minimum standards • Legal ≠ ethical

  9. The Political Reform Act • Called You Out!! • All the Heavy-duty State officials. . .and then: “. . .city managers, city attorneys, city treasurers, city councils and other public officials who manage public investments “ . . . not the police chief or city clerk

  10. Vacation accounting irregularities Agency credit card misuse Agency supplies & equipment Double-dipping on expenses Extravagant expenses What Would You Do?

  11. What Would You Do? • Laundering Money • Shifting Expenses—indoor sports • Reimbursement for Losses – theft/damage • Gifts from Brokers • The question in the group meeting: “Does anyone see a problem with this?”

  12. Thomas Jefferson • “In matters of style, swim with the current; in matters of principle, stand like a rock.”

  13. Resources on Ethics Laws • No personal financial gain • No perks • Transparency • Fair process • Rest of Story: AB 1234

  14. Short Term Strategies • Remind people about audits • Encourage colleagues to consult with your agency attorneys • Recognize that people often make decisions in their own self interest

  15. Long Term Goals • Help create an ethical environment • Work on a code of conduct • Incorporate standards into your written investment policy • Keep track of the questionable gymnastics • Put together a presentation for the broader audience

  16. Ethics in the Treasury: Hard Choices • Right versus right • Personal cost • Loss of job • Long-term thinking

  17. The Three Strategies Promoting Public Service Ethics

  18. The Three Strategies • Good Practices • Your Education • Educate Others

  19. Good Practices • Checks and balances: Minimize likelihood wrongdoing goes undetected • Internal controls • Audits • Transparency • Hiring for ethics • CMTA Code #4: Observe profession’s technical (and legal) standards

  20. Educate Yourself • CMTA Code #4: Continuous improvement • CMTA Code #2: Promote good government • AB 1234: Take the training • Understand and promote ethics

  21. Educate Others • Decision-makers • Tool: Financial Management for Elected Officials • Oversight is a form of check and balance • The Public • Website/transparency • What does the public need to know to • Participate in democratic processes? • Prevent corruption? (Most important political office . . .) • Know that there’s “Ethics in the Treasury”

  22. Resource to Help • Includes GFOA recommendations on financial transparency • Sent to finance directors in early January • Available online at www.ca-ilg.org/financialmanagement without charge

  23. Thomas Jefferson • “I have the consolation of having added nothing to my private fortune during my public service, and of retiring with hands clean as they are empty.”

  24. Questions, Sharing & Feedback

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