The City of Red Bank received the Budget Certificate credential from the office of the Tennessee Comptroller of the Treasury. Red Bank is one of 114 cities in Tennessee to earn this distinguished recognition out of a total of 346 municipalities. This acknowledgment of Red Bank’s management of public finances in a responsible manner places the city in the top third of all cities in the state.
“This is the first time in anyone’s memory that Red Bank has earned this endorsement from the Comptroller, and it accurately reflects the respect and responsibility we have towards the public’s money,” said City Manager Martin Granum. “We take the trust that the commission and the citizens have placed in us as a staff very seriously; we build and execute the budget with a sense of stewardship and a commitment to excellence. It’s very satisfying to know that the Comptroller’s Office has endorsed our efforts in this way.”
Local officials that adopt budgets meeting the following specific criteria are awarded this coveted certificate from the Comptroller of the Treasury: A city must adopt its budget on or before the fiscal year end and file within 15 days of adoption. No issues of concern can be raised during the review of the city’s budget and the city cannot be under the oversight of the Water & Wastewater Financing Board or Utility Management Review Board.
The Tennessee Comptroller’s Office awards this special certificate to qualified cities in recognition of the hard work and commitment of the city’s local officials, including budget and finance staff, to operate the city with a sound financial plan.