Mission: The Finance Division provides fiscal leadership, integrity, and superior financial services through prudent and efficient management of the City’s financial affairs.

Under the guidance of Chief Financial Officer Walter Person, the division administration provides leadership and direction to Finance Division service centers and coordinates all financial functions of the City. To promote the City’s fiscal health, safeguard its assets, and aid its effectiveness in achieving strategic financial goals, the Finance Division develops, evaluates, revises, and encourages adherence to financial policies and procedures.

Departments

Budget Manager

The budget manager:

  • administrates the preparation and presentation of the City’s operating and capital budgets
  • develops and communicates the key budget assumptions and guidance for budget development by the City’s Operating divisions and agencies
  • identifies specific tasks and deadlines for producing the Adopted Budget as mandated by City Ordinance and coordinates the compilation of data, publication of final Budget documents and documents submitted to the State Comptroller
  • manages budget revisions and changes by reviewing council resolutions for financial impact, accuracy, and documentation of allocations, appropriations, and transfers before routing for inclusion on Council agenda
  • reviews and reports on the financial impact of management/financial policies projecting revenue collection including coordination with outside consultants
  • monitors division’s performance against budget and develops and updates the full year and quarterly revenue forecast for the General Fund and Special Revenue Funds
  • coordinates with other City personnel to accurately forecast revenues for all other funds and trains and assists coordinators in all divisions

Comptroller

Financial Accounting seeks to ensure the integrity of the City’s financial information by preparing and maintaining accurate accounting records, providing timely and accurate financial reports to City Division management and staff, and preparing the Annual Comprehensive Financial Report in accordance with generally accepted accounting principles and legal requirements.

 

Kametris Wyatt
Comptroller Interim 
(901) 636-6196

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Debt Management

The Debt Management Service Center at the City of Memphis has three major functions:

  • Debt Management
  • Debt Issuance
  • Debt Administration

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André D. Walker
Deputy Chief Financial Officer
(901) 636-6324

Investment Manager

The Investment Manager:

 

  • Manages City investment activities including all employee retirement funds, operating cash, and bond proceeds cash through relationships between the City, its money managers, legal counsel, and banks
  • Manages cash liquidity needs, cash flow, and forecasting, and banking relationships for the City
  • Collaborates with internal and external financial advisors and researches current trends to design and recommend safe and effective investment strategies for City funds
  • Evaluates, recommends, and executes the investment of City funds
  • Monitors the initiation of approved trades daily with brokerage firms
  • Researches financial markets and economic conditions and analyzes financial statements to gain information on optimum timing of potential investments to ensure maximum returns on funds
  • Prepares monthly and quarterly performance reports of the operating cash portfolio and pension plan, cash flow analysis of revenues, disbursements and investments, and other various financial reports
  • Develops and maintains on-line reporting for assets of the defined benefits plan, defined contribution plan, and operating cash portfolio

Michael Burose
Investment Manager
(901) 636-6177

Office of Grants Compliance

The Office of Grants Compliance (OGC) was established as a service department to provide a focal point for the City of Memphis to enhance its internal compliance with applicable grant policies, rules, and regulations. The OGC provides comprehensive oversight of all City grants as well as responsible stewardship of federal, state, and private grant funds.
Core objectives:

  • Identify grant opportunities and potential grant partnering agencies
  • Streamline the grant application and award process
  • Ensure compliance with all federal, state, and private grant funds
  • Ensure the existence and implementation of proper internal controls

The Office of Grants Compliance has two (2) core areas of service: Compliance and Administration.
For Compliance services, OGC is responsible for examining program and funding compliance with federal, state, and private grant requirements. OGC also conducts annual and random onsite monitoring reviews and provides assistance to divisions during formal site visits by grantor agencies.

499 S Hollywood Street
901-636-6157

Purchasing

The City procures a variety of goods, miscellaneous services and construction. City
procurement is prescribed by both the City Charter and City Codes, which require that
awards be made on the basis of the lowest and best bid.

The Purchasing Agent within the Purchasing Department is responsible for providing the
most cost-effective method of procuring materials, products and services for the City of
Memphis while adhering to the procurement laws of the State of Tennessee, City Charter
and federal law.

The City encourages the participation of minority and women businesses in the
procurement process. Visit the “Business” tab to learn more about the procurement
process and how to register with the City of Memphis. (Business in previous sentence
should be a hyperlink to Business page)

Kristie Hardy
Purchasing Agent
(901) 636-6186

City Treasury

The Treasurer maximizes collections with optimal utilization of resources while providing effective customer service to the citizens of Memphis in all Treasury and related operations. The Tax office bills and collects realty and personal property taxes as mandated by the Shelby County Assessor’s Office and the Tennessee Office of State Assessed Properties.

La’Keith T. Miller
Treasurer
(901) 522-1111

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City Auto Auctions

The City of Memphis holds weekly Auctions open to automotive dealers as well as the general
public. These auctions are typically held each Wednesday online via http://www.venture-
auctions.com/UpcomingAuctions.html.

Bidders must be registered by 9am each Wednesday prior to bidding in the auction. Click here to
register online.

Auction List will be uploaded by 6pm each Monday and a vehicle preview is done each Tuesday
from 12pm-2pm at 465 Klinke Ave. Live Webcast Bidding begins at 9:30am CST on Wednesday.

Capital Improvement Plan (CIP)

The Capital Improvement Program (CIP) is a multi-year plan for capital expenditures to replace and expand the City’s infrastructure, vehicles, and equipment. Capital improvements in the context of this material may refer to the purchase or construction, replacement or betterments made to capital assets. Capital improvements are generally addressed in a capital budget that may span several years, as opposed to the annual operating budgets of other governmental funds. The program is updated annually to reflect the latest priorities, updated cost estimates and available revenue sources. The purpose of the CIP Plan is to outline the funding for capital projects and capital acquisitions that will be of long-term benefit to the citizens of Memphis. Generational equity is important to consider, as both present and future users pay for and enjoy projects included in the City of Memphis Capital Improvement Plan.

FY 2024-2028 CIP Budget Book

 Tristan Gately-Sweatt
Planning & Capital Programs Manager
(901) 636-6414

FY 2024 Operating Budget