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Allegany County treasurer’s office earns CashFest top marks; reports $3.2M in investment revenue over past year
Summary
At the Feb. 12 Allegany County Board of Legislators meeting, a 3 plus 1 representative presented a CashFest score of 93 for the county’s treasury operations and county Treasurer Terry Ross said the office generated about $3.2 million in the last 12 months and nearly $8 million since adopting the CashFest approach.
At its Feb. 12 meeting, the Allegany County Board of Legislators heard a presentation from 3 plus 1 on the county treasurer’s cash and investment performance, with the consultant reporting a CashFest score of 93 out of 100 and ranking the county in the top 10% nationally.
The presentation, given by Tyler Grama of 3 plus 1, outlined a five-part CashFest framework that benchmarks liquidity, percent of funds providing value, a market-benchmark indicator, cash-flow optimization and investment-policy compliance. Grama said Allegany County scored five of five stars in four of the five categories and 3.5 of five stars in cash-flow optimization, producing the overall 93 score and placing the county in the top decile of counties nationwide.
Grama said the treasurer’s office has produced concrete returns: "Over the last 12 months, the treasurer's office has generated over $3,200,000 for the taxpayers that would not have been able to be raised through taxes," and added the county has "been at or above 90 for nine consecutive quarters." He described nearly $40,000,000 of county cash as "outperforming market and peer benchmarks." Grama also noted the assessment compares the county’s practices to allowable options under New York State general municipal law.
County Treasurer Terry Ross credited the office’s strategy and outside partnership. Ross said the county has generated "almost $8,000,000" since adopting the CashFest approach roughly five to six years ago and added that every $300,000 of that $8,000,000 "saves 1% on the tax levy." Ross said the office now invests daily and seeks to balance operating liquidity with longer-term protection against interest-rate volatility.
Grama described the five CashFest components in the presentation: ensuring every dollar provides value, measuring liquidity needs for day-to-day operations, benchmarking against marketplace rates, optimizing banking structure and fraud-prevention tools, and verifying the county’s investment policy complies with allowable municipal options and collateral requirements.
The presentation did not include any formal actions by the board. Treasurer Ross and deputy treasurer Jenna Kelly joined Grama at the podium for the recognition and accepted a CashFest award on behalf of the treasurer’s office.
The board took no immediate policy votes tied to the presentation; the remarks were delivered as informational and ceremonial recognition during the regular meeting.
