In the heart of Richmond City Hall, a sense of anticipation filled the air as Finance Director Leticia Shelton addressed the Finance & Economic Development Standing Committee. Returning to her roots, Shelton shared her journey from local public service to leadership roles across Virginia and Texas, emphasizing her commitment to the mayor's vision of a thriving Richmond.

Shelton, who has a proven track record of achieving clean audit opinions and national accreditation in her previous roles, outlined her goals for the city's financial future. She highlighted the importance of transparency and accountability, stating, "The work starts with setting clear goals and accountable standards within our city government." Her experience, she noted, would be instrumental in guiding Richmond towards similar successes.

Currently, the finance department is collaborating with five external auditors to finalize the city's annual audit for the fiscal year ending June 30, 2025. Shelton informed the committee that all reports are due by November 7, with the mayor scheduled to present the estimated general fund balances on November 15. However, she cautioned that the data is still unaudited, and projections for the fourth quarter remain uncertain, with a current shortfall estimated at $3.8 million.

In her first month back, Shelton has been actively engaging with city staff and stakeholders, reviewing financial reporting technologies, and preparing for the upcoming audit. She expressed her commitment to fostering a professional and accountable finance department, urging collaboration across city government.

As the meeting concluded, the committee acknowledged the challenges ahead but recognized the progress made under Shelton's leadership. With a focus on teamwork and transparency, Richmond City is poised to navigate its financial landscape with renewed vigor and purpose.