Pathway to Recovery® Series
As we enter the new year, the aftermath of the COVID-19 outbreak is being addressed with a combination of vaccines and a series of stimulus funds in an effort to recover. This year may be considered a year to perform a “checkup” on the health and financial well-being of your entity.
The only way a doctor can perform a checkup is to conduct a series of tests, ranging from blood tests to various bio-technology procedures. The information gathered in performing these tests provide data ranging from what has occurred to assessing your health going forward.
That same level of a liquidity review should be considered for your public or higher Ed entity given the traumatic landscape experienced in 2020. A complete liquidity review should incorporate a holistic perspective of all financial transactions and the ebbs and flows of dollars during the pandemic. The information gathered through an in-depth analytical review will be extremely helpful, not only around what your entity experienced through an historic multi-generational occurrence, but also how you might better address such events in the future.
A liquidity review should incorporate the following:
— A collection and review of all dollars and financial transactions that flow through an organization on a daily, weekly, monthly and annual basis.
— A review of all bank accounts and fees associated with each financial institution.
— A review of all technology being used to perform financial transactions, including investments.
— A review of fraud protections and policies associated around all financial transactions and financial institutions used.
— In preparation for any current debt, refinancing and/or future lending needs, a complete qualitative and quantitative liquidity analysis report should be prepared for the rating agencies to review.
— A review of one’s Investment Policy Statement, Electronic Payment Policy and an all-inclusive review of banking relationships.
— A projection of cash impact on the entity from the effects of COVID-19, and patterns detected from its implication and any subsequent funds received to address the pandemic, social unrest or natural catastrophe. Please keep in mind, the data collected during 2020 and 2021 will have significant impact on how you manage for the future of your entity’s financial well-being.
At three+one®, our cashvest® platform provides proprietary liquidity analysis and data that allows you to have the confidence in dealing with the financial implications of a major event, such as COVID-19, natural disaster or human inflicted occurrence.
A cashvest® liquidity checkup over 2021 will provide you with new sources of revenue, savings efficiencies and the peace of mind, all while allowing you to focus on what is most important, that being those you serve.