Budget Certificate - Recognition to Local Officials

State law requires every county, municipality, utility district, water and wastewater authority, and municipal energy authority in Tennessee to adopt an annual budget.  

Budget submissions that meet the requirements of the budget manual and the following specific criteria are awarded an annual certificate from the Comptroller of the Treasury:

• The budget was adopted on or before the fiscal year end;
• The budget was filed with our office within 15 days of adoption;
• No issues of concern were raised during our review of the budget*; and
• The local government is not currently under the oversight of the Tennessee Board of Utility Regulation.

*To be effective, a budget should be adopted prior to the beginning of the fiscal year. The budget should also be based on reliable estimates, be structurally balanced, provide for cash liquidity, allow for adequate reserves, be monitored throughout the year, and be amended, as necessary. If concerns are identified in these areas, it will impact your local government’s eligibility to receive a certificate. Monitoring is fundamental to the budget process. Accordingly, as part of our review, we look to see if your local government amends its budget at the legal level of spending throughout the year, as evidenced by your most recent audit. Likewise, concerns related to the other areas listed above will impact your local government’s eligibility to receive a certificate.

See our Seven Keys to a Fiscally Well-Managed Government.