The Tennessee Consolidated Retirement System (TCRS) performs actuarial valuations every two years for participating political subdivisions. In an effort to help these political subdivisions understand the employer rate changes and additional information about TCRS, seminars are behing held across the state in January. Dates and Locations for these meetings are as follows:
January 13 - Jackson City Hall
January 14 - Henry County Medical Center
January 21 - Cookeville City Hall
January 22 - Williamson County Agriculture Center
Janaury 26 - Jonesborough Visitor Center
January 27 - Sevierville Civic Center
January 28 - Chattanooga State Office Building
Tuesday, December 8, 2009
Gov. Bredesen Names Gayle Ray as Commissioner of Corrections
Last week, Governor Phil Bredesen appointed Gayle Ray to be the next Commissioner of the Department of Correction. Ray will assume her new role on January 1, 2010, following the departure of current Correction Commissioner George Little, who announced he will leave Bredesen's cabinet on December 31 to become chief administrative officer for newly-elected Memphis Mayor AC Wharton. Ray currently serves as deputy commissioner in the Department of Correction. She served as Davidson County sheriff from 1994 to 2002.
Business Tax Administration Shifts to Department of Revenue
This past legislative session, the 106th General Assembly enacted Public Chapter 530, shifting the administration and collection of business tax from local municipalities and counties to the Department of Revenue. With this change, the Department of Revenue will use its resources and experience in tax administration to collect the business tax. The hope is that this shift will result in greater efficiency in the collection process and increased revenue for the State and for local governments.
“This undertaking is a true partnership between state and the local governments,” said Commissioner Reagan Farr. “While increasing revenue through improved tax compliance, we also plan on simplifying the tax process for business owners including developing a new, simplified tax return and initiating major education programs.”
Beginning with Classification 1 taxpayers, due Feb. 28, 2010, all business tax returns will now be filed with the Tennessee Department of Revenue. Businesses will continue to obtain business licenses from the county clerks and/or municipal officials.
The Department of Revenue is working closely with local municipalities and counties to make this transition a smooth process. The department is currently gathering registration data from the counties and cities to register the business owners and mail out tax returns by the end of 2009. More information is available at the Department of Revenue’s Web site www.TN.gov/revenue.
“This undertaking is a true partnership between state and the local governments,” said Commissioner Reagan Farr. “While increasing revenue through improved tax compliance, we also plan on simplifying the tax process for business owners including developing a new, simplified tax return and initiating major education programs.”
Beginning with Classification 1 taxpayers, due Feb. 28, 2010, all business tax returns will now be filed with the Tennessee Department of Revenue. Businesses will continue to obtain business licenses from the county clerks and/or municipal officials.
The Department of Revenue is working closely with local municipalities and counties to make this transition a smooth process. The department is currently gathering registration data from the counties and cities to register the business owners and mail out tax returns by the end of 2009. More information is available at the Department of Revenue’s Web site www.TN.gov/revenue.
Friday, December 4, 2009
County Officials Meet with the Governor to Discuss Upcoming Year
The following link connects you to an article from the Sparta Expositor that reports on a meeting of a small contingent of county officials with Governor Bredesen. The county officials met to discuss state and local government fiscal challenges as the Governor begins preparing what is expected to be a very challenging budget. Past TCCA President Wallace Austin (White County Commissioner) attended the meeting to represent county commissioners and is quoted in the article.
To read the full story, click here.
To read the full story, click here.
Wednesday, December 2, 2009
National Article on Consolidation of Local Governments
Click here
to access an article in the USA Today newspaper reporting on new efforts under consideration to consolidate local governments as a cost saving measure during dire economic times.
to access an article in the USA Today newspaper reporting on new efforts under consideration to consolidate local governments as a cost saving measure during dire economic times.
Commissioner Little to Leave Post at Department of Corrections
NASHVILLE - Governor Phil Bredesen announced today that George Little, commissioner of the Tennessee Department of Correction, will leave his Cabinet position effective December 31, 2009. Bredesen appointed Little in October 2005.
Statement from Commissioner George Little:
"It has been a pleasure to serve the citizens of Tennessee and Governor Bredesen as the Commissioner of Correction for the past four years. Under the Governor's leadership, the department has made tremendous progress in ensuring public safety and restoring the public's confidence in state government. I appreciate the opportunity to have been a part of this administration and to contribute to its accomplishments.
"I am honored to have worked alongside a talented and dedicated team of correctional system professionals. I know they will continue to efficiently manage the facilities and programs that house, supervise and rehabilitate convicted offenders in Tennessee."
Statement from Governor Phil Bredesen:
"Commissioner Little has guided the Department of Correction with a thoughtful, professional and steady hand, and I appreciate his service to the state of Tennessee. Over the past four years, he has led the department through a number of initiatives to keep our communities safe while fulfilling its mission to manage the state's correctional system.
"George has been a valuable member of my Cabinet and I wish him well in his future endeavors.
"We will immediately begin the process of identifying a highly-qualified candidate to succeed him in this important role. I am committed to continuing the progress he and his team have accomplished as we move through this transition and prepare to address the challenges that face the department and the state of Tennessee."
Statement from Commissioner George Little:
"It has been a pleasure to serve the citizens of Tennessee and Governor Bredesen as the Commissioner of Correction for the past four years. Under the Governor's leadership, the department has made tremendous progress in ensuring public safety and restoring the public's confidence in state government. I appreciate the opportunity to have been a part of this administration and to contribute to its accomplishments.
"I am honored to have worked alongside a talented and dedicated team of correctional system professionals. I know they will continue to efficiently manage the facilities and programs that house, supervise and rehabilitate convicted offenders in Tennessee."
Statement from Governor Phil Bredesen:
"Commissioner Little has guided the Department of Correction with a thoughtful, professional and steady hand, and I appreciate his service to the state of Tennessee. Over the past four years, he has led the department through a number of initiatives to keep our communities safe while fulfilling its mission to manage the state's correctional system.
"George has been a valuable member of my Cabinet and I wish him well in his future endeavors.
"We will immediately begin the process of identifying a highly-qualified candidate to succeed him in this important role. I am committed to continuing the progress he and his team have accomplished as we move through this transition and prepare to address the challenges that face the department and the state of Tennessee."
GASB 34 Compliance - Message from the Comptroller
Comptroller Justin Wilson recently addressed the TN General Assembly to notify members of an accomplishment by local governments in Tennessee:
"I want to share the good news that, thanks to the hard work and dedication of the General Assembly and local government officials, Tennessee is now one of the very few states where there is 100 percent compliance by local governments with the Governmental Accounting Standards Board (GASB) Statement No. 34. All local governments in Tennessee are now in compliance with this standard. This is a milestone achievement and should be a source of pride for all Tennesseans.
The purpose of GASB Statement No. 34, Basic Financial Statements and Management’s Discussion and Analysis for State and Local Governments, was to make government financial statements more user-friendly for people who access government financial information, to help states and local governments make better operating decisions and to make it easier to compare financial information from different state and local governments.
The Government Accounting Standards Board is responsible for establishing accounting standards for state and local governments in the United States. GASB Statement No. 34 was issued in June 1999 and is considered one of the most far-reaching – if not the most far-reaching – accounting standard ever issued by GASB. This standard is extremely detailed and difficult to implement.
The State of Tennessee implemented Statement No.34 for the fiscal year ended June 30, 2002, as required by the standard. However, due to the complexity of the standard, many local governments in Tennessee had difficulty complying and weren’t able to present financial statements in conformity with generally accepted accounting principles (GAAP).
In 2003, my predecessor as Comptroller, John Morgan, suggested a process for helping local governments achieve compliance with GASB Statement No. 34 and in May 2004 the General Assembly established a special joint committee that focused on financial accounting and reporting standards. The committee recommended legislation, later approved by the General Assembly, known as the Local Government Modernization Act of 2005. The purpose of the legislation was and is to ensure that local governments in Tennessee maintain adequate accounting records and comply with GAAP. Compliance with GAAP would help ensure local governments maintain their bond ratings.
When I became Comptroller, I made 100 percent compliance a priority of this office. As of June 30, 2009, every county and city in Tennessee has implemented this standard, a remarkable accomplishment for which each and every Tennessean can be proud.
Please join me in extending our congratulations to our local governments and officials."
"I want to share the good news that, thanks to the hard work and dedication of the General Assembly and local government officials, Tennessee is now one of the very few states where there is 100 percent compliance by local governments with the Governmental Accounting Standards Board (GASB) Statement No. 34. All local governments in Tennessee are now in compliance with this standard. This is a milestone achievement and should be a source of pride for all Tennesseans.
The purpose of GASB Statement No. 34, Basic Financial Statements and Management’s Discussion and Analysis for State and Local Governments, was to make government financial statements more user-friendly for people who access government financial information, to help states and local governments make better operating decisions and to make it easier to compare financial information from different state and local governments.
The Government Accounting Standards Board is responsible for establishing accounting standards for state and local governments in the United States. GASB Statement No. 34 was issued in June 1999 and is considered one of the most far-reaching – if not the most far-reaching – accounting standard ever issued by GASB. This standard is extremely detailed and difficult to implement.
The State of Tennessee implemented Statement No.34 for the fiscal year ended June 30, 2002, as required by the standard. However, due to the complexity of the standard, many local governments in Tennessee had difficulty complying and weren’t able to present financial statements in conformity with generally accepted accounting principles (GAAP).
In 2003, my predecessor as Comptroller, John Morgan, suggested a process for helping local governments achieve compliance with GASB Statement No. 34 and in May 2004 the General Assembly established a special joint committee that focused on financial accounting and reporting standards. The committee recommended legislation, later approved by the General Assembly, known as the Local Government Modernization Act of 2005. The purpose of the legislation was and is to ensure that local governments in Tennessee maintain adequate accounting records and comply with GAAP. Compliance with GAAP would help ensure local governments maintain their bond ratings.
When I became Comptroller, I made 100 percent compliance a priority of this office. As of June 30, 2009, every county and city in Tennessee has implemented this standard, a remarkable accomplishment for which each and every Tennessean can be proud.
Please join me in extending our congratulations to our local governments and officials."
Subscribe to:
Posts (Atom)
