History Will Show

History Will Show

This month, public entities of all sizes will have access to American Rescue Plan funds to help address the financial strains from the COVID-19 pandemic. The support of ARP funds should go a long way to help alleviate the negative impact of the pandemic on entities like yours.

It should be noted that these upcoming funds were the direct result of your voices being heard in Washington, D.C. Between the public associations—including the National Association of Counties (NACo)—the various state associations, the outreach by all of you, and three+one®’s exhaustive advocacy, the funding became a reality.

So, your voices have been heard and the funds are on their way to your entity. All good news.

Now is the time to take the next important step: Planning a liquidity strategy that will make the best use of these funds. You have here a once-in-a-lifetime opportunity to maximize the short- and long-term benefits of your ARP funds in the interest of those you serve.

History will show just how well our voices were heard.

3 Key Insights Gained From COVID-19

3 Key Insights Gained From COVID-19

As COVID-19 proved to be a real fiscal stress for public sector and higher-ed entities, the data provided by cashvest® and rfpPrep® became a fintech map for better liquidity management. Together we gained key insights into navigating those challenges and finding a Pathway to Recovery®.

 

Have you stepped onto the Pathway to Recovery®?

View All 6 Steps on the Pathway

American Rescue Plan: Funding for Public School Systems

American Rescue Plan: Funding for Public School Systems

Pathway to Recovery® Series

American Rescue Plan – Funding for Public School Systems

In order for our country to get fully back on track, we must provide safe, secure schools where students and educators alike feel at ease and protected from the effects of Covid-19. Our school-age children and grandchildren are the future of this nation and we cannot allow this pandemic to derail their education, nor their potential. Congress and President Biden understood that, which is why $122 billion is included in the ARP to be distributed to K-12 public schools as an important and absolutely vital component of our country’s recovery from the Covid-19 pandemic.

Under the provisions of the ARP, the U.S. Treasury and the U.S. Department of Education are required to send states their proportionate shares within 60 days of the law being enacted. However, in an effort to speed along the recovery while schools are still in session, the DOE sent a letter to State Education Commissioners on March 17th initiating the payments more quickly: (view letter here). This means that many state governments are already seeing the funds in their accounts. Receipt of those funds then initiates a second 60-day timeline during which states MUST pass along 90% of the received funds down to local public-school systems and charter schools.

The state-by-state breakdown of funding can be found here:

That means your local school district’s share of $109 billion will be flowing into your district’s coffers sometime between now and July 9, 2021. By the way, these are ADDITIONAL DOLLARS for your local schools. Under Section 2004 of the ARP, states are prohibited from reducing or diverting their pre-existing aid to schools and then trying to use these federal ARP funds to fill in the gap. This provision, is called “Maintenance of Effort”; you can read more about it on page 21 of the bill: (view legislation here).

A few examples of how the ARP funds can be used include reducing class sizes; improving ventilation systems and replacing windows; hiring more custodians and school nurses; expanding bus-transportation systems; and increasing summer-school programs. There are numerous other acceptable ways the Plan’s funds may be used.

If you have any questions about the funding included in the American Rescue Plan, or how those funds may be used, please feel free to contact three+one here.

Financial tools from three+one include cashvest®, MC Forecast®, rfpPrep®, and direct client access to our team of liquidity and cash-management professionals. When combined, these powerful tools provide public entities and higher Ed institutions with the kind of accurate and reliable cash-management data that they need in order to make the best financial decisions for the funds in their care.

The author served for a total of 38 years in local government at the village, town, and county levels, including 24 years as a County Treasurer/CFO responsible for investing public funds. He can be reached by phone at 585-484-0311, ext. 709.

6th Step on the Pathway to Recovery®

6th Step on the Pathway to Recovery®

cashvest® by three+one® has developed a comprehensive 6-step plan to navigate a changed marketplace since COVID-19. We’ve previously shared Steps 1 through 5.

In Step 6 we reveal how data can give you & your entity’s finance team peace of mind & confidence.

 

Looking For All Pathway Resources?

View All 6 Steps on the Pathway

Maximize Your Entity’s ARP Benefit

Maximize Your Entity’s ARP Benefit

Pathway to Recovery® Series

If information is power, then data is the key to unlocking that power. The ability to translate data into reliable action plans to maximize the benefit of your entity’s American Rescue Plan funds is vital. You have the power to magnify the positive impact of these stimulus funds through liquidity-data resources over the next 44 months! In these uncertain times, let data be your entity’s north star on the pathway to recovery. You cannot be “lost” if you know precisely where you are and in which direction you are heading.

For municipalities navigating the details of the ARP funds, three+one® has the critical resources you need. We can help you determine allowable-use scenarios for the ARP funds, the interpretation of U.S. Treasury guidelines as they are issued, and how to maximize the value of those dollars through 2024. 

three+one® provides public sector and higher Ed institutions with new liquidity-data resources to make calculated financial decisions about current and future cash needs. Here are a few of the questions you may be asking yourself: “How much cash will I need 6 or even 12 months from now?”; “Should I be leaving all of my ARP money in a liquid account?”; or “How long could I put this cash to work to preserve its value?” These and many other questions can be answered with greater confidence and ease when you have our cashvest® tools and team of dedicated professionals working for you. 

three+one® has helped its clients generate over $400 Million in new, previously untapped, revenue and savings by harnessing cashvest® liquidity data. Our technology and MC Liquidity Forecast Model® allowed these entities to implement best practices of cash management, no matter the economic environment.

See why your peers, the National Association of Counties (NACo), and over ten state associations are partnering with three+one® and putting their trust in our data. If cashvest® can’t provide your entity a benefit, there is no expense to you. It’s that simple.

Financial tools from three+one include cashvest®, MC Forecast®, rfpPrep®, and direct client access to our team of liquidity and cash-management professionals. When combined, these powerful tools provide public entities and higher Ed institutions with the kind of accurate and reliable cash-management data that they need in order to make the best financial decisions for the funds in their care.

The author served for a total of 38 years in local government at the village, town, and county levels, including 24 years as a County Treasurer/CFO responsible for investing public funds. He can be reached by phone at 585-484-0311, ext. 709.

Hitting the Fintech Accelerator with BNY Mellon

Hitting the Fintech Accelerator with BNY Mellon

three+one® BNY Mellon AcceleratorAs a pioneering firm in Fintech, three+one® is always striving to produce unparalleled data insights, achieve superior results for our clients, and chart new methods of success in an ever-changing global marketplace.

For precisely our commitments to these benchmarks, three+one® is thrilled to share important news regarding our continued partnership with BNY Mellon who just recently announced the formation of a Venture Capital Advisory Board for the institution’s Accelerator Program. As one of the first participants in the Accelerator Program, three+one® is in the unique and privileged position of benefitting from insights and guidance by the world’s leading minds in the financial-technology sector.

What does this mean for our clients and those that we continue to serve?

Quite simply, three+one® may be rooted in fintech, but our passions thrive as a trusted resource for public sector, higher-ed and non-profit entities serving the public-good. We see our mission as serving alongside you, and through the Accelerator Program we are ensuring our technologies, systems, insights and data are ahead of the curve, a best-position for everyone.

Our team at three+one® is grateful to our partners at BNY Mellon and the Accelerator Program’s VCAB for their continued guidance. These exciting developments are being noted by industry experts and publications internationally, recognition in which our client-family and partners share, especially as three+one® continues to lead the fintech industry with our liquidity management, RFP- and bank fee-evaluation services.