Last month, Wayne County, NY lost an outstanding treasurer, community leader, and innovator to a long battle with cancer.
Tom Warnick was appointed deputy county treasurer at age 28 and then elected treasurer at 34, a position he held for three decades.Throughout those years he never flagged in his drive to bring new sources of efficiency, savings, and income to the public he served. Tom was known for always striving for the best; as soon as he achieved one success, he moved on to other initiatives—and turned them into success stories.
It was during Tom’s tenure that three+one created—and named in his honor—the Warnick Rate Indicator®. The WRI, an integral component of three+one’s cashVest®score, has become nationally recognized for the straightforward way it enables comparisons of the earnings rates of an entity’s cash to the potential rates those funds could earn in the marketplace.
We’ve shown, time and again, by following the principles of the WRI, entities are likely to gain tens and even hundreds of thousands of dollars in new income each year. Achieving five stars in the WRI means that an entity is maximizing the use of 95% to 100% of its funds, thus receiving the highest level of earnings available in the marketplace—and is still able to meet its legal, safety, and/or liquidity requirements.
I was fortunate to speak with Tom a few days before his passing. During our conversation, I was amazed he still had fresh ideas and initiatives that he hoped his successors would follow through on to benefit his Wayne County constituents.
Tom Warnick’s passion, determination, and drive for excellence have left a mark on us all, both personally and professionally. It was a great honor to have worked closely with him for the past 25 years. All of us at three+one salute his work, his legacy, his innovative spirit, and the high standard he has set for financial executives nationwide.