Council hears vendor pitch for CashVest pilot aimed at increasing returns on city cash

Council President Vidor presented an item authorizing a 12‑month service agreement between the city treasurer's office and a vendor (3plus1) offering CashVest, and the committee heard a detailed vendor presentation and Q&A.

A presenter introduced himself as Adam and described CashVest as a cash‑management analytics service that examines 24 months of transaction history to identify funds the city could temporarily deploy or use to negotiate better bank terms. "We track every transaction in dollar that comes into the city, into your accounts. How long does it stay there? And then when does it leave?" the presenter said.

Committee members focused questions on timeline, data access and the vendor's fee mechanics. The transcript records the vendor saying an initial analysis typically takes about two to three weeks after the vendor receives view‑only account statements and bank permission, and that there is no payment due until the initial update and recommendations are delivered. Council members asked whether an upfront payment is required; the transcript records a question about a $4,500 payment on signing and the vendor stated the mechanics of invoicing would follow council agreement to proceed.

The vendor cited prior jurisdictional examples. In the transcript the presenter and other vendor speakers referenced Dauphin, Lycoming and Lackawanna counties as case studies and reported substantial results for some clients; council members asked the vendor to return to present results to the full council if the contract proceeds to Thursday's meeting.

The transcript includes several vendor claims about past returns and an itemized description of how the service operates, but it does not record the council taking a formal vote on the resolution. Next steps recorded in the discussion include providing the analysis to counsel and arranging a vendor presentation for an upcoming meeting.