MTAS was asked whether the city charter could have a conflict of interest provision stronger than Tennessee's two conflicts of interest laws.

The process of closing the books for the year is just that, a process. It is an ongoing process. To efficiently close the books by the end of August, the books should be kept current and accurate. In other words, monthly reconciliations are a crucial part of the year-end close, because much less research and work will be required if errors, adjustments and routine items are reconciled monthly. It makes the year-end process much less time consuming.

This document should be a general guideline as every city will have different processes and general ledger accounts. This guide is simply a tool to facilitate the process and provide a systematic approach. The process must be repeated for every fund.

This guide also includes an accompanying “Fiscal Year-End Checklist for Closing and Annual Audit” spreadsheet linked below. 

MTAS was asked to prepare an opinion on conflict of interests and property purchase.

MTAS was asked whether the mayor's business should be prohibited from doing any work for the city.

Banking services must be evaluated at least every four years and proposals must be from at least two banks. This requirement is the result of Public Chapter 277 which was signed into law on May 2, 2019 by the governor.  The statute requires a contract for banking services be based on the evaluation of proposals, which should be documented for audit purposes. A detailed Q & A and a sample form for requesting quotes for bank services are available to download from this record.

In addition to these resources, an MTAS CityByte on the topic is available here: https://kate.tennessee.edu/MTAS/docs/Courses_2018/public_chapter_277/story_html5.html

MTAS developed a brief resolution for designating a depository bank.

MTAS was asked whether the county can tax rental property owned by the utility district.

MTAS was asked whether there is any set procedure for the sale of surplus property by municipalities.

MTAS was asked why the 1939 insolvency board, contained in Tennessee Code Annotated, section 67-5-2601, was abolished by Public Acts 1992, Chapter 926.