Does your finance office have all the best support to meet the needs of your taxpayers effectively and efficiently?
If you’re not sure, at three+one, they’re aware that this is not a unique situation to you and your colleagues.
Counties continue to benefit from three+one. It is much more than a liquidity management solution. It remains, in fact, a true partner invested in counties as much as you are your cash.
cashVest® by three+one has been deemed a best practice by the National Association of Counties (NACo) following extensive due diligence to confirm the applicability and usefulness of cashVest as an additional resource.
Boone County was recently chosen as the 2023 recipient of the cashVest National Leadership Award.
This prestigious award acknowledges the leadership that the county has demonstrated, both statewide and nationally, in establishing and practicing the highest possible standards of financial governance and liquidity management, while also advocating for other counties across the NACo enterprise in instilling the very best of practices in the management of taxpayer dollars.
Boone County was recognized as a leading advocate for the implementation of best practices in both identifying and managing all cash as a revenue-generating asset.
Its implementation of the cashVest platform’s liquidity and treasury data has made the county a national leader in cash management.
Since June 2021, cashVest has benefited Boone County with a bank-fee savings of $20,274 and $3,199,851 in cumulative interest from fixed-income opportunities, identified by liquidity data.
“We have 3,220,125 reasons why we utilize the cashVest liquidity services of three+one,” Boone County Judge/Executive Gary Moore said of the results. “That is the $3,220,125 fewer tax dollars that needed to be raised to pay for county services.”
The $20,274 comes from a bank fee review that identified some accounts that were ineligible to offset fees. Through collaboration with the bank, all accounts are now providing value and increasing annual bank line-item savings.
Other counties are taking notice and have been working with three+one for similar results. Look for more information about those success stories soon.
Click here to learn more about three+one and cashVest.
