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Treasury Services
 
BondsThe Treasury Division provides three core services to the City:

Cash Management,
Debt Management, and
Revenue Estimation

As part of these services, 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.
 
A summary of our services is provided on this page.

City Treasurer
Scott Greer

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 maintain operations, and monitoring bank transactions.

Investment Manager                                          
David Emery                           
                                 

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NASCAR Hall of Fame construction
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, make debt service payments in a timely manner, prepare annual debt service budgets, insure debt covenant compliance, insure compliance with arbitrage requirements, and prepare various debt related reports.

Debt Manager
Adam Guerino

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Revenue Estimation
The Treasury Division is responsible for estimation of revenues for the City of Charlotte.  This function involves maintaining a comprehensive set of forecasting models for 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 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.

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.

All City Property was revalued by the Mecklenburg County Tax Assessor 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 visit Property Assessment and Land Records Management.
 
For additional information about revenues within the State of North Carolina please visit the N.C. Department of Revenue.

City Economist
Sarah Willson 


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