Cash Management

The Monterey County Treasurer functions as the County's bank.  The Treasurer receives annual revenue from deposits totaling nearly $1.5 billion from county departments, the 26 school districts, various special districts, and from the State of California.  The Treasurer maintains records of all bank activity (receipts and disbursements) and balances those funds to the County Auditor-Controller's ledgers.

The sources of deposited revenue include:  property taxes, fines, service charges (e.g. the county hospital for patient revenue) and State subventions (e.g. local sales tax, school ADA [average daily attendance], and motor vehicle license fees).  Annually, the Treasurer receives over 300,000 checks and other negotiable instruments which are normally deposited into the county's operating account within 24 hours of receipt.

Not all funds received by the Treasurer are required for immediate use.  Therefore, the Treasurer has developed a comprehensive cash flow forecast that projects the amounts and time frames when liquid funds must be available for depository agency disbursements.  The average daily cash outflow from the county treasury from all participant agencies exceeds $6 million.  By the end of the fiscal year the total cash outflow from the county treasury is approximately equivalent to the $1.5 billion of annual deposited revenues, and is evidenced by over 500,000 disbursement checks.

Revenue received into the county treasury that is not required for immediate use becomes part of the County Treasurer's investment portfolio.

 

Last updated on June 3, 2008