Four years ago, Maria Walls, CPA, the Treasurer of Beaufort County, SC, outlined how she used to earn $300,000 a year in investment income on the county’s cash and was delighted to grow that to $300,000 per month, by developing and following the highest standards of liquidity management, as described in her video at that time.
Now, just four years later, Treasurer Walls is making over $1 million per month, leading to over $12 million annually in investment income. She has done this by developing building blocks on the cash she has control over, and by being proactive in the management of all cash. In four years, the county had made over $32 million in new revenue, funds that would have never been amassed if she didn’t have the data or confidence in managing her county’s cash. This is a great example of how success can breed greater success.
To put this in context, Treasurer Walls, has made enough money in 2022-2023 alone to equate to 13.1% of the county’s total tax levy. That also equates to offsetting over two years of inflation that the county had to endure.
In the words of Judge Gary Moore, Executive of Boone County, KY, “Every new dollar earned is one less taxpayer dollar needed to pay for county services.”
Cash and liquidity management have great value in this marketplace. When proactively managed, cash management can build greater cash balances to offset future budget gaps or offset unexpected erosion of capital reserves.
Treasurer Walls has truly shown us that the management and growth of cash can only get better when managed proactively.
What’s her strategy? You can ask her directly here.
