Amends TCA Title 6, Chapter 56, Part 4.
Tennessee SB0109 amends existing law regarding the requirements for certified municipal finance officers (CMFOs) in municipalities. The bill allows municipalities to seek written approval from the comptroller of the treasury to permit contracted CMFOs to devote less than the mandated 16 hours per month to financial oversight, with such approvals valid for one year and requiring annual renewal. This change affects municipalities that contract for CMFO services, providing them with greater flexibility in financial oversight requirements.
Tennessee SB0109 amends existing law regarding the requirements for certified municipal finance officers (CMFOs) in municipalities. The bill allows municipalities to seek written approval from the comptroller of the treasury to permit contracted CMFOs to devote less than the mandated 16 hours per month to financial oversight, with such approvals valid for one year and requiring annual renewal. This change affects municipalities that contract for CMFO services, providing them with greater flexibility in financial oversight requirements.
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