The Finance Department is responsible for the control of all financial activities of the City. The Department manages financial resources and ensures that adequate resources are available. The Department is also responsible for the Annual Budget; Business License and Taxes; CAFR; Capital Improvements Program; Purchasing Program; Surplus Auction; Property Taxes; and Water & Utility Billing.
AAA Bond Ratings
The City of Brentwood places the highest priority on operating the municipal government in a financially sound manner. In September, 2008, Brentwood became the first government in Middle Tennessee to receive the highest bond rating possible from two major credit rating agencies, Moody’s Investors Service (Aaa) and Standard and Poor’s (AAA). These ratings were reaffirmed in July 2013 in advance of the issuance of $10 million in General Obligation Public Improvement and Refunding Bonds. These ratings were also reviewed again in 2017 and Brentwood received a rating of Aaa in regards to the General Obligation Refunding Bonds, Series 2017.
The City of Brentwood is one of a very small number of local governments in the USA today having an AAA rating with a stable outlook. This rating makes the City’s bonds most attractive to investors and allows the City to receive the most favorable interest rates. This is very important in today’s investment market where credit quality is king. The rating agencies cited the City's historically well-managed financial operations, sizeable financial reserves, diverse tax base, the extremely strong wealth and income levels in the community, and low overall net debt burden.
The General Fund annual budget for the City of Brentwood is approximately $38.8 million.
The 2018-2019 Operating Budget is as follows:
Revenues by Source
|Local Sales Taxes||$14,500,000||37.3%|
|Other Local Taxes||5,550,000||14.3%|
|State Shared Revenues||4,747,570||12.2%|
|All Other (Including Interest)||681,100||1.8%|
Expenditures by Source
|Fire/Safety Center East
|Debt Service Fund||3,100,000||8.0%|
|Transfers to Other Funds||1,035,000