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County hears presentation from CashVest (3plus1/NACo) on non-tax revenue opportunities
Summary
Representatives of CashVest (partnered with the National Association of Counties) presented a data-driven service intended to identify underperforming cash and generate non-tax revenues; the board agreed to accept the presentation administratively and continue due diligence.
Representatives of CashVest, a cash- and treasury-data service partnered with the National Association of Counties, gave a remote presentation to the Oktibbeha County Board of Supervisors on using data to generate additional non-tax revenue and improve returns on county cash balances.
Ed Butler, account manager, and Kevin Ford described CashVest’s approach: they analyze bank-account and transaction data, benchmark cash returns against market benchmarks (the presenters cited 30-day U.S. Treasury yields and current market figures), and propose options within a county’s investment policy. Butler said the service is free on a trial basis if no benefit is shown and that CashVest does not act as an investor or custodian; it provides data and connects the county to market opportunities.
Supervisors asked about scale and fees. Presenters said their fee is a flat, budget-based fee and that they perform periodic “stress tests” and cash-flow forecasting. One supervisor remarked that Oktibbeha County is seeking nontraditional revenue sources and that the program could be beneficial.
A motion was made to accept the presentation administratively and to authorize staff to continue due diligence with the presenters; the board recorded the vote as 4–1 in favor.
No contract was approved at the meeting; staff were asked to do further review and return with recommendations if the county pursues the service.
