Suffolk County Recognized with National “Best in Category” Award for Groundbreaking Collateral Initiative
At three+one, our top priority is empowering public finance leaders with data and technology that elevate fiscal responsibility and protect taxpayer dollars. Today, we are proud to celebrate a prestigious national recognition: Suffolk County, NY, under the leadership of Comptroller John M. Kennedy, Jr., has won the “Best in Category” 2025 Achievement Award from the National Association of Counties (NACo) for its cutting-edge Collateral Initiative.
This recognition is the highest honor within NACo’s Achievement Awards program; it celebrates innovative, effective county government programs that strengthen services for residents.
A Model for Financial Integrity and Innovation
In partnership with three+one, Suffolk County launched a collateral reporting initiative that ensures all public funds are thoroughly protected in compliance with New York State General Municipal Law § 10. With bimonthly financial updates and advanced liquidity monitoring through cashVest , the County can verify that multiple accounts across departments are collateralized, even as new accounts are opened.
This strategic program has resulted in 100% compliance from participating banks, providing a strong layer of protection for millions of taxpayer dollars. By leveraging accurate, timely data, this initiative delivers enhanced visibility, improved cash control, and strengthened public trust, all while aligning with state law and modernizing public-fund oversight.
“Best in Category” for a Reason
What sets this initiative apart isn’t just improved compliance; it’s the innovation, replicability, and impact it offers. NACo’s “Best in Category” distinction is awarded to only one program per category, and Suffolk County’s win in the Financial Management category highlights how forward-thinking financial stewardship can lead to tangible, measurable impact at the community level.
A Team Effort Backed by a Forward Vision
Comptroller Kennedy credited the success of the program to a true team effort.
“I would like to thank my dedicated staff and three+one for their diligence in making this important endeavor a reality,” said Kennedy. “This collateral initiative significantly strengthens the County’s financial security. I am especially grateful for County Executive Edward Romaine’s strong support of the Department of Audit and Control, and I take my responsibility to protect Suffolk County taxpayers very seriously.”
At three+one, we are proud to be the trusted partner in this award-winning effort. Suffolk County’s achievement is a testament to what’s possible when leadership, innovation, and technology align for the public good.
Setting the Standard for Responsible Government
This national recognition is not just a celebration, it’s a call to action for counties across the country to explore what data-driven financial transparency and protection can look like. Suffolk County’s success proves that when public funds are managed with strategic insights and real-time data, communities thrive and public trust grows.
Is Your County Next?
To learn how three+one can help your municipality unlock greater protection, performance, and peace of mind, click here!
Did you miss the recent webinar?
Watch the replay now to see how Suffolk County’s approach is safeguarding taxpayer dollars: Safeguarding Taxpayer Assets – Inside Suffolk County’s Bank Account Collateralization Program.
