Cash Management

The Monterey County Treasury functions as the County's bank.  Annual revenue received from deposits total nearly $1.5 billion from county departments, the 26 school districts, various special districts, and from the State of California.  The Treasury 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 Treasury 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 Treasury are required for immediate use.  Therefore, the Treasury 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 Treasury's average daily cash outflow from all participating agencies exceeds $6 million.  By the end of the fiscal year, the total cash outflow is approximately $1.5 billion in 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 Treasury's Investment Portfolio.