Connecting Classroom Learning to Community Impact: ACCT 414 Students Visit the City of Fairbanks

Written by Ruth Prato
Edited by Lauren White

Students in ACCT 414: Governmental and Not-for-Profit Accounting recently had the opportunity to step out of the classroom and into the day-to-day world of local government with a visit to the City of Fairbanks.

This course is designed to help students understand how governmental and nonprofit accounting actually works, not just in theory, but in real communities. From the beginning of the semester, students explore fund accounting, government-wide reporting, and the unique role accounting plays in supporting transparency and accountability. But like many areas of accounting, those ideas can feel abstract until you see them in action.

This visit is where the concepts came to life. As one student put it, “seeing the accounting we learn in the classroom applied in a real-world setting is so critical… it makes it easier to grasp than simply memorizing concepts”. Concepts like fund accounting, capital projects, and reconciliations—things that can feel technical on paper—started to click when students saw how the City actually uses them to manage resources and make decisions.

Students gathered in the Council Chambers for a presentation by Chief Financial Officer Margarita Bell, where they got a closer look at what governmental accounting really looks like day-to-day. They explored the Annual Comprehensive Financial Report (ACFR), walked through how different funds are used, and saw how financial information drives planning, communication, and accountability.

They were also treated to an unexpected moment of connection with city leadership. Mayor Mindy O’Neall stopped by to welcome the class and took time out of her busy day to personally greet students and show her support. It was a simple gesture, but it left an impression that their work connects directly to the people leading and serving their community.

One of the biggest takeaways for students was the central role of transparency and trust in government accounting. Fund accounting, which they’ve been studying all semester, came to life as they saw how the City organizes resources by purpose, clarifying how public money is collected, allocated, and used. It reinforced an important idea: governmental accounting isn’t just about getting the numbers right, but about earning and maintaining public trust.

Several students entered with assumptions that governmental accounting is rigid or less engaging. Many walked out with a different perspective. One student described it as “a dynamic tool for communication, transparency, and public service”. Others were surprised by how much the role involves communication, decision-making, and collaboration, not just accounting work.

These experiences serve as a reminder that learning sticks differently when students can connect it to real people, real decisions, and real impact. As one student reflected, “this visit helped bridge the gap between theory and real municipal operations… it made everything feel more real”.

Experiential opportunities like this reflect CBSM's ongoing commitment to prepare students for impactful, community-centered careers in accounting.