The Treasury Division provides three core services to the City: Investment Management, Debt Management and Revenue Estimation/Consulting.

Treasury is responsible for overseeing all cash disbursement, managing the City's investment portfolio, selling City bonds and providing revenue estimates for the City Budget.

Below is a summary of our services.

Scott Greer,
City Treasurer
sgreer@charlottenc.gov  (704) 336-5883

Revenue Estimation
The Treasury Division is responsible for estimation of revenues for the City of Charlotte. This function involves maintaining a comprehensive set of models that forecast various tax revenues, maintaining debt models, and participating in utility rate setting.

Treasury Division Staff manages the technical aspects of bond referendums.

In order to accurately estimate revenues, Treasury staff must review current economic conditions within the City of Charlotte and the region, track revenue flows, and follow legislative developments that effect revenues.

Recent developments include a reduction of the state shared Beer and Wine tax that resulted in the City losing $2 million of FY2010 revenue. This revenue is expected to return for FY2011 unless the state takes additional action. Sales tax and many of the tourism related taxes that the City receives have declined in the last year due to the recession, however the City budget has been balanced with revenues that have increased  and expense reductions.

All City Property was revalued by the Mecklenburg County Tax Administrator effective in FY2004. The next re-valuation is anticipated for FY2012 (beginning 7/1/2011). For information related to property assessment and land record management please see this Web Site .

For additional information about revenues within the State of North Carolina see the N.C. Department of Revenue Web Site.

City Council approved the City's operating budget for Fiscal Year 2010 in June 2009. The budget maintains the City tax rate at 45.86¢ per $100 valuation.

Sarah King, City Economist
seking@charlottenc.gov (704) 336-3297

Cash Management
The Treasury Division is responsible for managing the cash assets of the City of Charlotte. This task involves investing idle funds in interest bearing securities, maintaining adequate cash flow to maintaining operations, and monitoring bank transactions.

David Emery demery@charlottenc.gov
Cash and Investment Manager
(704) 336-4039
Tom Smith trsmith@charlottenc.gov
Assistant Cash and Investment Manager
(704) 336-7590

Debt Management
The Treasury Division is responsible for maintaining the debt program for the City of Charlotte. We issue all new debt for the City, issue debt service payments on timely basis, prepare annual debt service budgets, insure debt covenant compliance, insure compliance with arbitrage requirements, and prepare various debt related reports.

Currently we are working on financing the NASCAR Hall of Fame and Cultural Arts Facilities in addition to funding ongoing general government projects such as roads and buildings, water and sewer projects, and airport projects.