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Treasurer highlights $1.4B scope, new payment pilots and asks for a treasury manager to sustain in-house services
Summary
Treasurer Sarah Benitar told supervisors the office now reconciles roughly $1.3—$1.4 billion annually, described cost-saving in-house investments (investment portfolio management, lockbox and kiosk payments) and requested a three-year Treasury Manager LTE plus operational funding to build IT and fraud-mitigation capacity.
Treasurer Sarah Benitar told the board her office has grown into a large, high-volume cash-management operation and is pursuing several technology and banking partnerships to improve speed, security and customer convenience.
"Safety, liquidity and yield," Benitar said as the guiding priorities for investing and managing public money, explaining the office invests hundreds of millions in pooled funds and also manages disbursements for more than a dozen…
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