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Treasurer reports higher collections, delinquency totals and pushes for liquidity tool; Finance committee approves CashVest agreement
Summary
The treasurer reported year-to-date increases in collections and sales tax receipts, outlined delinquency totals, and presented a recommendation to adopt CashVest (3plus1) for liquidity analysis; Finance committee authorized the Treasury to contract with 3plus1.
Greene County’s treasurer presented tax-collection and sales-tax receipts and urged adoption of a liquidity-management service to improve returns on county cash while preserving local bank relationships.
Key figures cited by the treasurer: delinquent-tax collections in February amounted to $356,807.76 (up from $316,077 in the prior comparative period). Year-to-date delinquent-tax payments through Feb. 2024 were $6,473,490.87 compared with $5,307,477.58 a year earlier. The treasurer reported total delinquent taxes for Greene County as of Dec. 2024 of $8,259,999.60, up about $1,043,943.39 from the prior-year comparison presented.
Sales tax receipts through mid-February were reported at $50,069,045.33, up $1,764,073.69 (3.65%) from the prior year period of $48,304,971.64.
The treasurer proposed entering an agreement with CashVest (3plus1), a liquidity-management and treasury-analytics provider used by other counties; the Finance Committee voted to authorize the treasurer to execute the agreement. The treasurer said the platform provides independent evaluations of interest-rate offerings, liquidity forecasting and benchmarking of bank fees and that 27 New York counties use the service.
During committee discussion members asked whether sales-tax gains were coming from brick-and-mortar retail or online sales; the treasurer said state reporting will allocate online sales into originating categories and that staff would attempt to obtain a category breakdown for local economic-development use.
Ending: The treasurer said staff will proceed to finalize the CashVest agreement and produce liquidity reports for the Finance Committee; members asked for breakdowns of sales-tax sources and continued updates on delinquent-tax collections and property-tax-sale scheduling.
