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.

H. Lee Madden,
City Treasurer
lmadden@ci.charlotte.nc.us
(704) 336-3297

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.

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 legislation re-distributing occupancy taxes to Mecklenburg towns, loss of state reimbursements in FY2002 and changes in the sales tax laws that change the location of where sales taxes are paid from the point of sale to the point of delivery. In January 2003, a new 1/2 cent sales tax went into effect in Mecklenburg County to replace revenue lost from state reimbursements.

All City Property was revalued by the Mecklenburg County Tax Administrator effective in FY2004. For information about the revaluation process see the Mecklenburg County Tax Administrator's 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 Years 2008 and 2009 in June 2007. The budget maintains the City tax rate at 45.86¢ per $100 valuation.

Joel Levy, Economist
jlevy@ci.charlotte.nc.us

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@ci.charlotte.nc.us

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.