MEMPHIS — The Memphis City Council unanimously confirmed Art Davis as chief financial officer during its July 21 meeting. The appointment places Davis at the helm of city finances as Memphis maintains a strong credit rating while facing structural deficits and low cash reserves.

Mayor Paul Young called Davis and Chris Winton "incredible" leaders. Davis previously served as the city’s deputy chief financial officer of the treasury for seven months.

Davis has over 20 years of experience in public finance, including leadership roles at the Memphis River Parks Partnership, Liberty Bowl Memorial Stadium, and the Children’s Museum of Memphis. He served as COO and CFO for the Memphis River Parks Partnership from 2019 to 2025. During that tenure, Davis managed over $85 million in capital projects, including the Tom Lee Park redevelopment and the Flyway project.

His background also includes serving as director of finance for the Liberty Bowl Stadium. Davis held leadership roles with the Memphis Redbirds and the Children’s Museum of Memphis.

"My resume speaks for itself. It says who I am and where I’ve been. But the past isn’t really important today. What’s important today is what am I going to do moving forward," Davis said.

"My goal will be to support the mayor, the council, but most importantly to support the citizens of Memphis," Davis said. Young provided context on their professional history during the confirmation process. "Art has been with us for a number of years in our treasury department, but I’ve known him for years as he worked with MRPP and handled operations and finance there. Incredible leader, I’ve enjoyed working with him," Young said.

The Memphis City Council passed a $900 million budget in late June. The Memphis property tax rate remained unchanged at $3.39.

Economic indicators present a mixed picture for the region. Memphis ranked 205th out of 206 U.S. metropolitan areas in economic vitality according to a 2026 rankings report, despite regional growth in Tennessee.