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November 5, 2020 - 10:56am

Liquidity analysis and management firm honors county treasurer with national award

 

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With a company name of three+one, it was appropriate that four members of the Pittsford investment firm’s leadership team traveled to Batavia on Wednesday to present Genesee County Treasurer Scott German with the National Leadership Award for his role in maximizing the municipality’s assets.

Company CEO/Co-founder Joe Rulison, Vice President Garrett Macdonald, Relationship Specialist Alex DeRosa and Public Partnerships Director William Cherry each spoke of German’s exemplary efforts.

The presentation took place at the start of the County Legislature’s Ways & Means Committee meeting at the Old County Courthouse.

“This is a really special time for us to come together and honor the county … honor Treasurer Scott German for excellence in leadership across the nation,” said Macdonald, a Batavia native. “We have partnership with the National Association of Counties and we’re looking for counties that have exemplified strategic liquidity management for their taxpayers. We really couldn’t think of a better treasurer to honor than Scott German.”

The county treasurer’s office has been working with three+one for just over three years, Macdonald said, adding that his firm has agreements with county governments across the United States.

He credited German for considering any and all prospects of saving money for taxpayers.

“When it comes to looking at every single opportunity to earn and save on the taxpayer dollar, whether it be investment for a week, two weeks, a month, two months, longer, it’s a lot of work to look for opportunities to create value for the taxpayers,” he said. “And that’s what we’re all here for – to create value for taxpayers.”

Macdonald said that over the past 12 months, the county’s liquidity analysis and management practices have resulted in a benefit of $1 million “when (interest) rates were little to nothing.”

“That one million dollars, looking at the county’s tax levy for 2021 of about 31 million dollars, equates to about 2.89 percent – which would mean having to raise taxes in order to generate that kind of income,” he said.

Rulison emphasized German’s commitment to the firm’s “cutting-edge” strategies and recognized the impact German has had on other financial officers.

“It’s amazing to know that you adopted it (three years ago) and he (German) has taken it and implemented it,” Rulison said. “I can’t tell you how significant that is. There is only one person in the country that gets this award. And we’re thrilled for it to be able to be your treasurer, Scott German.”

Rulison recalled a phone call he received from a person from Washington who attended, along with German, a conference in the Midwest.

“Who is Scott German, the person said. I said he’s the treasurer of Genesee County. He goes, ‘He resonates what is a best practice that should be followed nationally.’ And he goes, ‘I think seeing that he is able to give and show his experience to others, is what really is going to be incredible – and that helped us to become a part of the National Association of Counties.’”

Cherry, retired Schoharie County treasurer and former president of the New York Association of Counties, said that he has known German for about 20 years, noting the latter’s participation in the state County Treasurers Association.

“Scott is always the first in line to want to learn how to do something better – best practices put into place – and he’s recognized throughout the country,” he said.

DeRosa said Genesee County has set a great example for him in his two years with three+one.

“I couldn’t think of a better example, a better county government for me to learn from – not only in your liquidity management practices but just how you treat your staff and it’s clear that you are a family together,” he said. “It’s truly going above and beyond the call of duty to make sure the taxpayers are getting that maximum value – and it’s an incredible example for counties across the state and the country.”

Afterward, German said he was surprised to learn that he was this year’s recipient of the award and said it is all about being responsible to county residents.

“I worked with them now for just over three years, and it’s a lot of work, but it’s worth it to my taxpayers. They pay me to do what I do so I’m doing what I can for them,” he said, noting that the county has earned around $3 million through its partnership with three+one.

Photo: From left, Alex DeRosa, Joe Rulison, County Treasurer Scott German, Garrett Macdonald and William Cherry. Photo by Mike Pettinella.

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