The Cash and Investment Management Division is responsible for the City’s financial portfolio and executes all investment and cash management functions. The monies invested by this Division earn interest to help fund City services.
The division manages investment vehicles that optimize the City’s’ financial portfolio while maximizing investment earnings within levels of prudence established by Virginia statute and best practice guidelines. Operations include:
Adherence to federal and state investment requirements
Daily cash management
Development and management of relationships with banking service providers, money managers, brokers and consultants, as appropriate
Investment of funds as efficiently as possible through accurate revenue forecasts and optimal investments garnered by analysis of current market trends and prudent diversification aimed at preservation of capital
Management of the City’s cash flow, reporting, reconciliation and accounting for actively managed funds