The City of Columbia’s Finance Leaders Are Delivering Lasting Impact

Change is constant, and for public finance teams, it often arrives without warning. Shifts in interest rates, evolving benchmarks, and rising taxpayer expectations can all feel like headwinds. Yet under the leadership of Treasurer Jessica Barlow, Finance Director Kristine Githara, Senior Accountant Ginger Page, and Assistant City Manager/Chief Financial Officer Jeff Palen, the City of Columbia, South Carolina, has transformed those headwinds into momentum for measurable community impact.

When the City began working with cashVest® by three+one® in 2018, the team saw a chance to harness the City’s financial data in a new way. At the time, only 27.5% of its cash position was being actively invested. By pairing their vision with technology that identified additional opportunities, they increased that figure to 75.6%, generating millions in new value for taxpayers. Even during the low-rate environment of 2020, their efforts were able to garner more than $3.7 million that did not have to be raised through taxes and fees. 

Their disciplined approach did not stop there. Through ongoing stress-testing and peer benchmarking, the finance team has gained the confidence to maximize the impact of every dollar. To date, their leadership has helped bring in more than $69.4 million in additional revenue for City residents.

The results speak volumes about the team’s work:

• Year-over-Year Growth: Columbia’s cash position rose 1.90% ($10.7 million). Even as benchmark interest rates dropped 12.57%, interest earnings climbed 17.9%.
  
• Benchmark Outperformance: In 2020, one of the most challenging financial environments in decades, the City’s effective rate was 0.47% – nearly six times higher than the federal 30-day Treasury index.
  
• cashVest Score: The City’s score grew from 59 in 2018 to a near-perfect 93, which they continue to maintain today

In today’s climate of constant market shifts, Columbia’s success demonstrates the impact that dedicated leadership and data-driven insights can achieve. The team at the City of Columbia has proven that uncertainty does not have to limit outcomes. Instead, it can be an opportunity to safeguard taxpayer resources, outperform peers, and strengthen the community they serve.

Seven years into their journey, Columbia’s story is clear: with leaders like Jessica, Kristine, Ginger, and Jeff guiding the way, data is more than numbers; it is a tool to build resilience and deliver lasting value to residents year after year.