The Richmond City Finance and Economic Development Standing Committee meeting on September 17, 2025, featured a significant presentation by Leticia Shelton, the newly appointed finance director. Shelton, who has extensive experience in public finance management, emphasized her commitment to enhancing the financial integrity of Richmond, aligning with the mayor's vision for a thriving city.

During her address, Shelton highlighted her previous successes in Charlottesville and Virginia Beach, where her leadership resulted in receiving clean audit opinions and national accreditation for financial management. She expressed her goal for Richmond to achieve similar accolades, underscoring the importance of transparency and accountability in city finances.

Shelton reported that the finance department is currently collaborating with five external auditors to complete the annual audit for the fiscal year ending June 30, 2025. She noted that all necessary reports are due by November 7, with the mayor scheduled to present the estimated general fund balances on November 15. The external auditors will present their findings to the city council on December 8, which is expected to include a clean audit opinion.

In her presentation, Shelton addressed the city's financial outlook, indicating a projected shortfall of $3.8 million for the third quarter. She clarified that the data presented was unaudited and that she could not confirm any surplus for the fiscal year at this time. Moving forward, Shelton plans to enhance the monthly finance reports to include projections and variances, enabling better financial decision-making for the city.

In conclusion, Shelton's initial 30 days in office have focused on preparing for the audit, engaging with city stakeholders, and reviewing financial reporting technologies. She aims to foster a culture of professionalism and accountability within the finance department and the broader city government.