I wanted to share a response from a current CGFM:
"As I read the comments posted about the CGFM designation, I felt compelled to write. As a federal employee who holds a CGFM and a CPA, I want to comment on the value of AGA's certification. Despite its infancy, the CGFM certification is as creditable or equal to a CPA for those serving in all levels of government. As you're no doubt aware, you really cannot compare the certifications because their specialties differ--accounting for all levels of government (CGFM) versus accounting mainly for private sector companies (CPA). In fact, the CGFM encompasses more than accounting (governmental structure, governmental auditing, etc.) and is the only designation to offer a focus not only on state and local accounting but federal accounting as well.
Even though AGA cannot change agencies' policies, a number of AGA Chapters offer CGFM training, AGA study guides or study groups. If you're not already a member, I would encourage you to become one. If you are in the DC area, both the DC chapter and the NoVa chapters have offered free training courses to their members (see http://www.agadc.org or http://www.novaga.org)."
Let me know if you have any questions.