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Williamsport treasurer proposes 12-month contract with 3 Plus 1 to analyze liquidity; council asked how to budget $18,000 fee
Summary
City Treasurer Adam Waldrop outlined a 12‑month engagement with 3 Plus 1 to analyze liquidity and treasury strategy; the service would cost $18,000 per year with the first quarterly payment scheduled in September, creating a $4,500 charge in 2026 and requiring a budget ordinance for appropriation.
City Treasurer Adam Waldrop told the Committee of the Whole on March 31 that he is seeking authorization to enter a 12-month service agreement with 3 Plus 1 to perform liquidity analysis and monitor treasury services. Waldrop said the firm will examine about two years of the city’s financial records to identify investment and cash-management strategies that could increase revenue from city bank accounts.
Waldrop described the fee as $18,000 per year, payable quarterly, and said the first quarterly payment is scheduled for September; as a result, the city would incur about $4,500 of the contract cost in 2026 if the council proceeds. He told the committee the city finance director provided guidance that a budget ordinance would be required to appropriate the contract expense even if additional revenue later offsets the cost: "If we do decide to proceed with contract... a budget ordinance will need to be presented and and approved to increase the treasurer's contract and services budget."
Council members asked where the funding would come from and whether the additional revenue would flow into the general fund; Waldrop and members noted they would seek clarification from the finance director before the full council meeting. Waldrop also said the city can discontinue the agreement if the firm’s analysis does not meet expectations.
