Imagine you received a large sum of money with certain restrictions on how you could spend it. In addition, substantial input came from public officials and the general public on how they thought these funds should be put to work. I doubt that anyone who was a financial fiduciary would spend a thin dime without having a strategy.
That is what the U.S. Treasury is requesting public entities to do with the recently distributed American Rescue Plan (ARP) funds: Develop a solid spending strategy.
A prime reason Washington arranged for two separate ARP payments over 2021 and 2022, with completion of such spending by the end of 2024, was to give entities sufficient time to plan and strategize around the best way to put these ARP funds to work.
Since time is on your side, please use it wisely.
By carefully planning on best uses of these funds, you’ll not only greatly impact local communities now—you’ll benefit them for generations to come.
Joe Rulison Honored with The Business Journals’ Lifetime Achievement Award
The innovative solutions generated by three+one® have been the talk in financial and technology circles this past year, especially as our firm’s pioneering liquidity management service, cashvest®, has aided public sector, higher education and local school districts through the economic challenges of COVID-19 and placed them on the Pathway to Recovery.
But today we celebrate not just one of our own, but the leader behind our firm’s commitment to the public good.
CEO Joseph Rulison has been named by The Business Journals as a 2021 Lifetime Achievement honoree for its New York publication in Rochester. This award was given in recognition of both his professional contributions to the financial viability of public sector entities and education institutions, and for his personal service to local and regional organizations in the community.
As a public treasurer, Joe is uniquely qualified in understanding the challenges faced by officials in public & higher-ed finance. In addition to his role as CEO of three+one®, Joe is an honorary Trustee and past Chair of St. John Fisher College and Geva Theatre in upstate NY. In addition, he served as a Board Member for the Town of Brighton, NY & Chairman for the County of Monroe Industrial Development Authority (COMIDA).
Please join our family at three+one® in honoring Joe Rulison’s accomplishments and endless commitment to benefit the public that has culminated in this prestigious award.
Receiving the federal ARP money in your public entity’s bank account is GOOD… earning compound interest on that money and then keeping every dollar is GREAT!
The U.S. Treasury has just confirmed on a national conference call that municipalities will be allowed to earn as much interest as they possibly can on the millions of dollars of ARP funds arriving in their bank accounts. What is even better news for our public entities is the Treasury will be putting NO RESTRICTIONS on how municipalities decide to use all their accrued interest income on their ARP funds!
This provides local leaders with a monumental, unprecedented opportunity to use federal dollars as a tool to increase their municipality’s bottom line and to boost revenues. That’s very good news for taxpayers.
three+one® is a national leader in using innovative technology to help public entities maximize the value of their cash using liquidity data. Give us the opportunity and we can help your local government or school district get the most out of its ARP funds.