Whiteville Awarded Budget Certificate From Comptroller’s Office
The Town of Whiteville was proudly presented with a certificate in recognition of its timely adoption of a balanced budget for the fiscal year beginning July 1, 2023. Whiteville was the only municipality in Hardeman County to receive the award.
A budget review was completed by the Office of the Comptroller of the Treasury and resulted in a standard approval indicating the Town of Whiteville’s commitment to operate with a sound financial plan.
State law requires every county, municipality, and utility district in Tennessee to adopt an annual budget. 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, structurally balanced, provide for cash liquidity, allow for adequate reserves, monitored throughout the year, and amended as necessary.
Local officials who adopt budgets meeting 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 the Comptroller’s office within 15 days of adoption;
- No issues of concern were raised during the Comptroller’s review of the budget; and
- The local government is not currently under the oversight of the Tennessee Board of Utility Regulation.
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