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Press Release from the Office of Justin P. Wilson, Tennessee Comptroller of the Treasury, April 2, 2019:

The Tennessee Comptroller’s Office is making it easier to understand the technical terms and jargon of public finance with its new glossary entitled Defining Tennessee Finance: A Glossary of Public Finance.

The Comptroller’s Office has many responsibilities related to Tennessee’s public finances including managing the state’s debt programs and working to maintain and monitor the financial health of state and local government entities.

This glossary will be a useful tool for government leaders, policymakers, government employees, and Tennessee citizens who are interested in learning more about Tennessee’s finances and understanding many commonly-used terms.

The glossary contains more than 180 entries covering many areas related to public finance. Sample terms include:

  • Amortization
  • Issuer
  • Balloon Indebtedness
  • Municipal Bond
  • Bond
  • Negotiated Sale
  • Commercial Paper
  • Note
  • Investment Grade
  • Par Value

“Tennessee is nationally recognized for its financial health and stability,” said Comptroller Justin P. Wilson. “We are grateful that our state’s leaders remain committed to fiscal integrity, and we hope this glossary provides them with an easy-to-use reference.”

The Public Finance Glossary can be found online by clicking here.

Follow the Comptroller’s Office on twitter @TNCOT

Press Release from the Office of Tennessee Comptroller Justin P. Wilson, April 22, 2018:

The Tennessee Comptroller’s Office has identified $84,097.95 of questionable expenditures within the Overton/Pickett Emergency Communications District. The district provides enhanced 911 emergency telephone service for Overton and Pickett Counties.

Comptroller investigators question the use of district funds for a variety of purchases including $18,700.12 in food. The district purchases food on a regular basis and investigators question whether many of the food items and supplies are used solely for district-related purposes. These purchases included alcohol, medications, and a variety of purchases at groceries and restaurants.

The questionable expenses also include the district director’s use of the district’s credit cards to purchase $678.05 in fuel while on multiple personal out-of-state trips. District board members were not aware the director used his assigned district vehicle for personal out-of-state travel.

Investigators have also raised questions about the purchase of equipment such as a $3,599.95 massage chair for the district’s office, and a drill press and sand blast cabinet, which are located in the Emergency Management Agency building.

Other questionable expenditures for training classes, public relations, travel payments in excess of policy, possible conflict of interest purchases, and items that are not exclusively used in district operations are noted in the investigative report.

Comptroller investigators attempted to speak with all full-time employees of the district. However, the majority of the full-time employees declined to meet with investigators; therefore, investigators were unable to confirm whether many of the district’s purchases were for the benefit of the district and its employees or for personal benefit.

“Many of the problems noted in this report can be attributed to oversight,” said Comptroller Justin P. Wilson. “District board members must do their part to ensure accountability. This includes discussing and approving major spending and reviewing credit card transactions.”

Investigators have shared their findings and recommendations with the district attorney general for the Thirteenth Judicial District and with the Thirty-first Judicial District, district attorney general Pro Tem.

To view the investigation online, go to: http://www.comptroller.tn.gov/ia/

If you suspect fraud, waste or abuse of public money in Tennessee, call the Comptroller’s toll-free hotline at (800) 232-5454, or file a report online at: www.comptroller.tn.gov/hotline. Follow us on twitter @TNCOT

Media contact: John Dunn, Public Information Officer, (615) 401-7755 or john.dunn@cot.tn.gov