Dude, Where's My Money? Safeguarding Public Funds
Money is constantly flowing in and out of your government. Sometimes that money is held by an intermediary for a matter of hours or minutes or for longer periods of time. Governments need to know not only where their money is being held—in bank accounts, with custodians, with merchant providers, etc.—but also understand if that money is safe.
This session will highlight how to conduct due diligence on financial services providers and develop strong policies and processes to ensure that public funds are safeguarded and best serve your organization.
Learning Objectives
Identify and conduct due diligence on the financial entities where your government may have funds.
Explain the importance of keeping your money safe when it’s in the hands of third parties, including the importance of collateralization.
Describe how your money can be working for you, even if it’s only held for a short period of time.