Treasury and Investment Management Committee Update.

• Author: Carter, Genevieve
• Position: COMMITTEE UPDATE

GFOA's Treasury and Investment Management Committee focuses its work on all treasury operations, including receivables, payables, cash flow, and investing functions.

In 2021, the committee published additional resources to help members better execute the tenets of our best practices related to fraud prevention in the treasury office and to procuring merchant services, and a lengthy resource on implementing payment card services for receivables.

This last resource, Accepting Payment Cards and Selection of Payment Card Service Providers, details the components that governments need to be aware of when implementing a payment card program. It includes a robust discussion on both physical infrastructure and software needs, and the charges and fees associated with accepting payment cards. Additional considerations on emerging technologies and budgeting for the costs of a payment program are also detailed in the resource. In addition, this document will be useful for governments that have already established a payment card program as they look at payment card service upgrades and providers, as part of overall banking services or separately.

In 2022, the committee will maintain its focus on key receivables and payables functions, including resources related to electronic functions in these areas. The committee's work plan will also focus on providing resources related to public funds investing. This will be in addition to GFOA's many existing best practices related to investing, including Creating an Investment Program for Public Funds, Diversifying the Investment Portfolio, Investment Policy, Selection and Review of Investment Advisers, and Selection and Review of Broker-Dealers.

It is imperative for a government to have an investment policy that sets the parameters for its investment strategies and restrictions. Reviewing state laws to determine what investments are permissible, as well as gauging your risk tolerance and diversification needs, will help establish boundaries and understanding of the investment program for staff, elected officials, and outside professionals.

In 2022, the committee will develop resources on the most frequently used investment products in the public sector. This effort will provide governments with an easy-to-access reference document to help them develop and...