The U.S. Census Bureau estimates there are over 3,100 counties in the United States. Each county, or municipality, has a governing body composed of executive, judicial, and legislative branches.
Depending on the state, the city treasurer serves as part of the legislative branch and holds an integral role in managing municipal funds. Through effective meetings, the office of the city treasurer collaborates with other commissioners regarding laws and policies, as well as with the public during city council meetings.
What is a City Treasurer?
A city treasurer manages funds from the state and federal government as well as revenue streams for the city, such as taxes, licenses, permits, fines, and other sources. City spending is allocated to areas such as public schools and hospitals, police and fire departments, highways, and roads.
Like any city department, the goal of the city treasurer is to help the community thrive. Whether elected or appointed, the city treasurer has an important job in promoting the financial health of the city’s funds.
Duties of a City Treasurer
Most municipalities require a city treasurer to hold a degree in finance or accounting, as well as several years of experience in public administration. In addition to these qualifications, the city treasurer must also comply with state and federal laws. Additional responsibilities include:
1. Financial Management
As the city generates funds from various revenue streams, city treasurers will receive and document the money. They oversee the receipt of all public funds and other accounts receivable to ensure compliance with state regulations and auditors. Additionally, they will balance and reconcile pension, tax, and investment accounts.
While this role consists of complex accounting procedures, it also includes straightforward administrative tasks, such as managing payroll for city employees. This involves knowledge of unemployment and compensation programs, and abiding by labor and industry laws. Lastly, city treasurers act as advisors to other departments in collaboration with city managers on the spending and investing of city funds.
2. Budgeting and Planning
The city treasurer works with different committees and city departments to prepare the annual budget. Through diligent management of revenues and expenditures, city treasurers determine how to allocate money. The budget is then presented to the city council for review. Effective meetings promote engagement between public officials and citizens, so decisions made surrounding the city’s budget remain transparent.
3. Cash and Investment Management
Understanding investment principles and policies is a critical role in a city treasurer’s job. They must be familiar with economic cycles, credit risk, interest rate risk, and other financial practices. The primary goal of investing city funds is to maintain liquidity, so that cash flow remains stable for economic growth.
4. Pursue Certifications
As individuals who are responsible for the management of investment portfolios and city finances, city treasurers often pursue additional certifications. While not a requirement, obtaining certificates help city treasurers expand their skills and earn a larger salary. These certifications often include:
- Association of Chartered Certified Accountants (ACCA) or Certified Public Accountant (CPA), which is specific to the United States.
- Certified Financial Planner (CFP)
- Chartered Financial Consultant (ChFC)
- Certified Financial Analyst (CFA)
- Certified Management Accountant (CMA)
- Financial Risk Manager (FRM)
Additionally, being “bondable” may be a requirement depending on the municipality. This means an insurance company is liable for any claims made against someone who’s in charge of high-risk items, such as city financials This protects the city in case of any wrongdoings by officials, such as the city treasurer or city manager.
5. Apply and Interview
Along with financial literacy, it’s important that a city treasurer also possesses interpersonal, leadership, and project management skills. As they go through the interview process, board members will take note of how they conduct themselves professionally.
Revitalize Your Local Public Meetings with eScribe
City treasurers undergo significant pressure while dealing with complex financial issues and working cohesively with stakeholders and other city departments. They also need to remain transparent to the public when communicating how their tax dollars are spent.
City treasurers are just one of many departments that can streamline meeting management and safeguard document storage with software like eScribe.
eScribe simplifies holding meetings, reduces administrative workloads, and opens new channels for citizen engagement and transparency. It has powerful tools to help city treasurers and other city officials create accessible, inclusive, and engaging public forums — without paper or time-consuming manual processes.
Some of the eScribe features most valuable to city council members include:
- Meeting Manager: Create, share, modify, and collaborate on meeting materials in real-time.
- Meeting Minutes: Take minutes, including planning commission meeting minutes, directly within the platform and mark motions as the meeting progresses.
- Reporting and Workflows: Manage deadlines, track statuses, save time, and handle reports and approvals with ease.
- Collaboration Tools: Give elected officials the freedom to work from anywhere by providing secure access for searching for and reviewing content, downloading meeting materials, and keeping track of comments, notes, and action items.
eScribe is the right software solution for city councils and other local government agencies. Don’t just take our word for it. Learn how the software streamlined processes for the City of Greensboro.