Bill > HB0185

This bill amends Tennessee law regarding Certified Municipal Finance Officers (CMFOs) by modifying the requirements for hours worked and approval process. Specifically, the bill allows municipalities to contract with a Certified Public Accountant (CPA) to serve as a CMFO, and provides flexibility in the minimum monthly hours required for financial oversight. Under the new provision, a contracted CMFO would no longer be mandated to work a strict 16-hour minimum per month, but instead can work fewer hours if the municipality obtains written approval from the state comptroller. These approvals will be valid for one year, and municipalities must request a new approval annually. The key change provides smaller or rural municipalities with more flexibility in managing their financial oversight staffing, potentially reducing costs while still maintaining professional financial management through the approval process. The bill takes effect immediately upon becoming law.

Government Affairs

https://wapp.capitol.tn.gov/apps/Billinfo/default.aspx?BillNumber=HB0185&ga=114