Treasurer’s office highlights $4 million in interest earnings and a 91 'cash‑vest' score

Alex DeRosa of 3plus1 presented the county treasurer’s office with data showing improved cash management and interest earnings. DeRosa said the county’s “cash‑vest” score — a 0–100 metric 3plus1 uses to evaluate liquidity and investment performance — has been consistent at 91 for Chemung County and the treasurer’s office produced more than $4,000,000 in interest earnings in the most recent 12‑month period.

The presentation described how the treasurer’s office balances liquidity (cash readily available for payments) against locked‑in investments that currently total about $45 million at an average rate of roughly 4.18%. DeRosa said recent county locks on multi‑month investments yielded rates in the 4.2–4.25% range, which helped protect forecastable interest revenue even as market rates began to decline in recent months.

Caitlin Kellogg, Chemung County treasurer, said the 3plus1 tool helps the office decide which cash to keep liquid and which to place in higher‑yield instruments while maintaining access to day‑to‑day payment balances. DeRosa cautioned that interest earnings are not a guaranteed, stable revenue source: treasury receipts depend on interest rates, federal and state funding flows, and the county’s own cash balance behavior.

Key figures and context: DeRosa reported more than 52,000 transactions through the treasurer’s office in the past 12 months, more than $1.2 billion of money movement in accounts, and about $45 million in locked investments earning above 4% on average. He said over 90% of county cash resides in high‑yield accounts or locked investments and that, historically, prior to 2019 the county kept a much larger share of balances in low‑yield accounts.

Costs and vendor disclosure: DeRosa said 3plus1 is a data and analytics vendor and does not manage county funds. He reported the vendor fee to the county was approximately $28,000 annually; DeRosa said the firm’s value is demonstrated each quarter by the county maintaining a high cash‑vest score and interest‑earnings performance.

Bottom line: The treasurer’s office is generating material non‑tax revenue through active cash management, but presenters urged caution: falling market rates, declining federal pandemic funds and possible changes in sales tax receipts could reduce that income in future budgets. The treasurer and consultant recommended continued conservative planning and regular review of cash positions.

Ending: Legislators asked questions about vendor fees, how interest gains compare to costs, and the role of local banks. The treasurer’s office said it will continue using data tools and active investment strategies to support the county budget.