Warren County to contract with CashVest to analyze daily transactions after committee approves $45,500 appropriation

The Warren County Finance and Budget Committee approved appropriating approximately $45,500 from the general fund unappropriated surplus and authorizing a contract with CashVest by 3 Plus 1 Inc. to analyze bank-account transactions with the goal of increasing interest income.

County staff described CashVest as a vendor that performs transaction-level analysis across the county's cash flows; the firm typically provides an initial analysis and, if the projected return meets expectations, is paid from realized gains. Staff told the committee that references — including other New York counties — had reported favorable returns.

The vendor will analyze current cash-management practices and identify opportunities to increase interest earnings. Staff said the vendor's model often projects potential gains (the county was told there could be an incremental $1 million in interest income in one estimate), but the committee emphasized that the county will evaluate the vendor’s analysis before full engagement. The contract would be paid over time as the vendor delivers results; staff said payments should be covered by demonstrated returns.

Supervisor Hirschfeld moved the appropriation; Supervisor Mayday seconded. Committee members approved the appropriation and contract authorization.