A Story to Tell

A Story to Tell

Are you looking for a way to alleviate escalating expenses, cut out miscellaneous fines/taxes for your taxpayers, or close a budget gap—but can’t seem to find a solution? CFO Sarah Sullivan and her team at the Richland Library in South Carolina have experienced similar issues. After working closely with three+one® over the last couple of years, developing and implementing a clear liquidity plan, the library has increased its interest earnings by over 150%. This has enabled the library to solve some serious financial challenges.

With Sarah’s proactive approach, and by incorporating three+one®’s time horizon and treasury data, the library will completely eliminate all overdue fines this upcoming fiscal year. The library is able to go fine free and put their mission first by encouraging current and past customers to use the resources, services and programs that they offer—without the fear of fines. 

With Sarah and her team’s hard work and dedication to increasing interest earnings over the last year, the library recorded over $208,000 in interest earnings (net of fees) and has the potential to exceed $260,000 (net of fees) over the next 12 months. Here are a few ways the library has achieved record interest earnings:

• By ensuring 100% of all the library’s funds are providing value, either through direct interest earnings or by offsetting banking fees.

• By continuing to work on balancing the library’s operating balances and using three+one®’s time horizon data as cash flows change to ensure all low- and non-performing cash receive the maximum rate potential.

• By utilizing three+one®’s liquidity data to identify solutions within their current banking relationship for short-term funds. Doing so ultimately resulted in 50% of their annual earnings.

We’re thrilled for Sarah Sullivan and her team and are pleased to share the Richland  Library’s success story.

Now let three+one® help put all your entity’s cash to work, finding solutions for potential budget shortfalls, lowering tax burdens on constituents, and so much more.

Blossoming Interest for Beaufort County

Blossoming Interest for Beaufort County

Blossoming Interest for Beaufort County

After developing and implementing a clear liquidity plan over the last year, Beaufort County, SC has increased its interest earning by over 300%. Treasurer Maria Walls, CPA has worked closely with her bank, investment advisors, and threeplusone to make sure every dollar that she has on hand is being put to work to earn more.

Beaufort County has an annual budget of $245 million. For fiscal year 2018 (July 2017-June 2018), Treasurer Walls recorded a record $2.9 million in interest earnings for her county. As she continues to proactively implement the County’s monthly cashVest® updates, we anticipate the County to earn over $3.5 million in interest earning for the next fiscal year.

With significant advances in all five components of the County’s cashVest update, Treasurer Walls was able to increase her score by over 20 points since the initial analysis. Here are a few ways the County has achieved over $2 million in interest earnings:

1.) By ensuring 100% of all the County funds are providing value, either through direct interest earnings or by offsetting banking fees.

2. ) The Treasurer continues to work on balancing the County’s operating balances and using threeplusone’s time-horizon data to ensure all low- and non-performing cash is receiving the maximum rate potential.

3.) The County increased the interest on operating liquidity by over 215% during the 2018 fiscal year.

4.) The Treasurer’s office adopted an investment policy that guides current and future employees in the allowable investments and restraints that maximize the County’s cash assets within the appropriate confines of safety and liquidity.

As budget season approaches, it’s time to focus on liquidity management. Let us help you achieve greater interest earnings in 2019 by identitying the value of your cash and putting it to work the way Beaufort County has.