Leading By Example

Leading By Example

by Tyler Frame

Lycoming County, Pennsylvania is located approximately 130 miles northwest of Philadelphia and is the largest county in the state by land area. It has a population of approximately 113,000, and its county seat, Williamsport, is the birthplace of Little League Baseball. Lycoming County is divided by the Appalachians and is beautified by rivers, creeks, and watersheds. As gorgeous as the landscape in this county is, what makes it such an incredible place is the people; they are kind, hardworking, professional, and the county officials are true public servants.

With the partnership and collaboration of the county’s Commissioners, Director of Administration, Fiscal Services, Treasurer’s Office, and the Controller’s Office, the county has made cashVest® by three+one® an integral part of its liquidity monitoring responsibilities. All officials have made earnings and savings a priority for the taxpayers’ cash. When asked about the importance of the cashVest® program, Matthew McDermott, Director of Administration, stated: “Counties have a myriad of responsibilities and functions they carry out to serve their residents.  Lycoming County recognized that it did not possess the in-house capability or expertise to effectively monitor and conduct the analysis of its liquidity, so we turned to three+one® to make the most out of our cash.”   

During the county’s initial cashVest® period (January 2017 – December 2017), the county was focused on investing its available cash. With an annual budget of nearly $103 million, the county earned $603,165 in interest during that initial 12-month period.

Over the last 12 months, Lycoming County used liquidity data, technology, and treasury services and is on track to earn no less than $2.1 million in interest—an increase of over 248%. “I’m here to do everything I can for the Lycoming County taxpayers. This program has increased our collaboration with the county’s banks and has provided valuable data that the Treasurer’s Office uses,” says County Treasurer Connie Rupert. 

The question your entity should be asking is this: Would such an increase in interest income/savings benefit your taxpayers? Whether it helps fund a new capital project, hire an additional staff member, increase wages for current staff, pay down debt services, or something else, the answer must be an emphatic ‘Yes!’

Lycoming County officials have done an outstanding job utilizing three+one®’s data and analytics to maximize the potential of its cash in the following ways:

● Allowing 100% of funds to provide value to the county by having equitable banking relationships.

● Increasing liquidity proficiency by ensuring its cash is taking advantage of time-horizon data.

● Maximizing the rates earned on all cash through market statistics.

● Optimizing cash flow through banking technologies and account-balance optimization.

These steps have all led to providing the greatest value to the county’s taxpayers. The county is now earning over 3% of its total tax revenue from interest income and savings on an annual basis, creating a new stream of revenue which the county will use to mitigate tax increases.

By taking advantage of three+one®’s independent and objective analytics, you can be certain that all opportunities to earn more will be achieved. Just remember that Lycoming County is earning in excess of $150,000 in interest income and savings each month.

Let three+one® provide your entity with the tools it needs to prosper, just like we’ve done for Lycoming County.

Lights, Camera, Cashvest!

Lights, Camera, Cashvest!

We were thrilled to introduce our new website to the world last month, and now we have the cherry on the cake!  Our marketing team at Steven James Media Group has delivered the new cashvest® by threeplusone® overview video that features our founders along with two of our valued clients explaining what we do , how we do it, and what results are available for public entities and institutions of higher education across the nation. 

Scott German is the Genesee County Treasurer, New York State, and Maria Walls holds the same position in Beaufort County, South Carolina.  We sincerely thank them for their generosity of time and spirit in their efforts helping us explain the process of using cashvest® by threeplusone® and what our partnership with their respective counties has achieved for their bottom lines.

We do not use the term ‘partnership’ frivolously when describing our relationships.  When working with a client, we are fully vested in helping them achieve their goals and aspirations.  At threeplusone® we intimately understand the challenges and increasing pressures that face public sector officials and financial officers in higher education these days.  We have served in the same capacity ourselves as public representatives and university overseers of fiscal operations.  There are new regulatory oversights constantly appearing on the radar, time-crunches that only seem to tighten but never loosen, and a host of security and protective measures that must be considered in this age of ubiquitous social media and digital finance. 

cashvest® by threeplusone® exists to find you new revenue sources from your existing cash holdings, to help ease the pain points that we know are faced by public officials and higher education officers, and to strengthen your relationships with the financial and banking institutions with whom you conduct business.  Feel free to contact us for more information at threeplusone.us  

A Green Deal

A Green Deal

As politicians debate a newly proposed Green Deal, I would like to propose a Green Deal that can be implemented immediately and generate a new source of income for all Americans.

My Green Deal is a proposal to have all public monies be put to work while still remaining legal, safe, and liquid.

Our need to find new sources of revenue is imperative as our country’s infrastructure ages, coupled with greater demands for power, transportation, water, food, education, safety, and social services, just to name a few of the challenges.

The ability to generate additional dollars can only go so far in helping us meet our nation’s needs. So many public dollars go unnoticed and are left on the sidelines. What may be considered a small amount with little impact can, as a whole, lead to significant dollars with great impact.

New solar-energy initiatives, self-sufficient buildings, more innovative electric/hybrid vehicles—these innovations and more can be met with new sources of revenue, found through the proactive management of dollars that simply go unseen.

Up until a couple years ago, the possibility for a public entity to generate interest income on its cash did not exist. Today, that is no longer the case. With short-term interest rates above 2.0%, and the proprietary financial technology we have at three+one®, the ability to generate substantial new dollars is now available.

Now that the opportunity exists to earn additional yield on all your cash, a very “green” result can be immediate through the pure power of your own cash.  Let’s unleash the power of our dormant ‘green’ cash holdings to fuel the green initiatives that will help our environment, our infrastructure, and our economy.

We are shaping a new dynamic in public finance all across America that can have great impact this year—and for decades to come. 

Electrifying

Electrifying

The increase in the production and sales of all-electric vehicles has strong financial benefits, both in tax incentives and savings, as owners don’t have to buy gasoline. However, the threat that electric vehicles may pose to oil companies is not only a challenge to the marketplace. It is a strong concern to government entities. 

Gasoline taxes are folded into every gallon of gas sold and are shared by federal, state, and local sources. The income from these taxes covers transportation infrastructure costs and general-fund expenses. In many cases, sales taxes fall within the top-five revenue sources for county governments, with taxes on gasoline making up a sizable portion of a county’s sales-tax revenue.

The dilemma rests on how dependent local governments are on gas sales-tax receipts. What happens when less gasoline is consumed, as more vehicles run on rechargeable batteries year over year? This doesn’t change the imbedded infrastructure costs to build and maintain roads, bridges, and tunnels. All-electric and hybrid vehicles still account for wear and tear on our roads and streets.

The answer might be found in a recent legislative proposal in the state of Ohio. Under this proposed legislation, an owner of an electric vehicle would be charged a higher annual registration fee to make up for not paying gasoline taxes. If this proposal becomes law, Ohio owners will pay $200 per year to register their all-electric vehicles; hybrid owners would pay $100. Part of this additional revenue would go toward updating the state’s power grid as a result of higher electric demand.


No matter what means is finally taken on a state-by-state basis, you can be sure that government entities will be seeking ways for owners of hybrid and electric-only vehicles to pay their fair share in taxes.

Just as the “green-minded” public wants to save money and help reduce emission gases, government entities will be seeking workable ways to generate revenue to compensate for gas-tax losses.

I’d like to urge public officials to think differently on this and work with resources one has before looking to levy new taxes.

A majority of public entities today are sitting on cash that has great value and that can be a new source of revenue. The desire to put cash to work is often a low priority, either due to lack of resources or the expectation that cash needs to be close at hand in case of unexpected expenditures.

The point I want to stress is that all cash has significant value in the marketplace—and that can lead to unexpected revenue.  At three+one®, we can show you the true value of all your cash through our proprietary liquidity analysis and data. We’ve helped entities across the country see six- or even seven-figure increases in annual interest earnings.

Before creating additional taxes on the public you serve, look to put a new charge into the value of your taxpayers’ money.

The results can be electrifying.

Transparency

Transparency

In an era when information of all kinds is instantly available online, requested fiscal data from finance officers is expected at the snap of a finger. Greater awareness and access of information, through technology and social media, forces finance departments to be ready and able to provide a new level of transparency. This is especially true when it comes to taxes, budgets, and expenditures.

Whether it be the elected officials to whom you report, the media, the public, or your own employees, the expectation for accurate, real-time information has escalated.

The pressure to provide increased transparency—with fewer resources and in a more immediate time-frame to do so—creates greater stress to those in the government and Higher Ed. sectors. These areas are under more intense scrutiny due to new and stricter regulations, enhanced media coverage, and ongoing tax/tuition pressures.

When it comes to accountability, being able to report the level of cash an entity has on hand may be more difficult than one may think. With several banking relationships and dozens of bank accounts, an entity’s ability to tabulate and chart all cash can seem to be an overwhelming task. However, given that it is the taxpayers’ cash one is talking about, the need to be timely and proactive is imperative.

At three+one®, our cashvest® liquidity analysis and data can provide you with a complete picture of all your cash at the click of your mouse. Having such information at your fingertips gives you the confidence you need when difficult questions are asked—and transparency is expected.

The request for information today is more demanding than ever, but it doesn’t have to be a dreaded task. With our help, you can have the information you need at the moment you need it.  You will not have to divert precious time and labor to the calls for transparency that seem to be ever-increasing in current times.