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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
Ann Wilson

 

 


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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 the repeal of the Business Privilege License Tax starting with the Fiscal Year 2016 (FY2016) budget.  The repeal of the Business Privilege License Tax will result in an approximate $18 Million loss to General Fund revenue.  While the Governor and State Legislators have voiced their commitment to finding replacement revenues for cities to offset this loss, no formal proposals on replacement revenues have been made.

The County Tax Assessor's Office continues to work with a consulting group to review all properties as a result of the FY2012 revaluation.  The review is expected to be completed by February 2015, and the City does not anticipate any significant erosion of the tax base due to the review.  As the economy continues to strengthen, the City has seen continued revenue growth from sales tax as well as tourism related taxes that had suffered during the Great Recession.

City Council approved the City's operating budget for FY2015 and FY2015-19 Capital Plan in June 2014.  The budget maintains the City tax rate of 46.87¢ per $100 valuation.

For more 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
Matthew Hastedt

 


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