CSAC Finance Corporation: A Partnership That Works!
July 7, 2016
CSAC Finance Corporation Highlights!
The CSAC Finance Corporation is proud to be a partner of CSAC and to be able to provide pertinent funding to further the mission of CSAC and the success of counties throughout California. Programs of the CSAC Finance Corporation include the California Statewide Communities Development Authority finance program, U.S. Communities pooled purchasing, Nationwide deferred compensation, theCoast2Coast discount prescription card, Medcor onsite employee health clinics, and the Towers Watson retiree health exchange. Below are highlights from a few of our programs:
The California Statewide Communities Development Authority (CSCDA) continues to thrive in supporting economic development throughout California. We’re pleased to share the below summary of CSCDA’s public benefit activities for the year ending June 30, 2016:
· Total Bonds Issued – $2,813,040,251 (Up 21%)
· Nonprofit Healthcare Bonds Issued – $1,573,175,000 (Up 23%)
· Affordable Housing Bonds Issued – $676,698,947 (Up 92%)
· New Affordable Housing Bonds Originated and Induced – $1,465,500,000 (Up 256%)
o 49 projectsinduced creating or preserving more than 7,200 new affordable units
· Infrastructure Bonds Issued – $86,130,000 (Up 70%)
· Property Assessed Clean Energy (PACE) Bonds Issued – $147,750,192 (Up 540%)
Summaries of various CSCDA closed transactions can be found at http://cscda.org/Resources/News/. We are grateful for the support of California counties and look forward to CSCDA continuing to be the economic development leader in California.
The CalTRUST investment pool continues to grow and adapt to the needs of our local agency participants. In an effort to make our fund offerings even stronger tools for our participants, the CalTRUST Board of Trustees has adjusted the liquidity in the Medium-Term Fund to weekly, as opposed to monthly as it was previously. This change allows greater flexibility for CalTRUST participants. In addition to the Medium-Term Fund, CalTRUST also offers Short-Term, Money Market, and Government Money Market Funds. CalTRUST currently has over 120 active participants and $2.5 Billion in assets under management.
With offerings on U.S. Communities constantly evolving, the CSAC Finance Corporation, CSAC, and the League of California Cities are co-sponsoring a series of free U.S. Communities briefings throughout California this year. The purpose of these briefings, known as the U.S. Communities Suppliers Summits, is to help inform local government staff how to take advantage of the many (including some new) procurement options in the U.S. Communities purchasing program. Please urge your administrative staff responsible for facilities, IT, fleet, parks & recreation, public safety, public works and HR activities to attend a Summit in your area. The next Summit is currently scheduled in San Diego County (Faraday Center in Carlsbad) on July 14th from 9:30 a.m. – 1:30 p.m. CLICK HERE TO REGISTER. Additional Summits will be scheduled later this year in Kern County, Los Angeles County, Orange County, and Sonoma County.
If you would like more information on any of our programs or have any suggestions for future programs please do not hesitate to reach out to us.
The CSAC Finance Corporation continues to be a resource for California counties to access enhanced service programs while saving money. All programs are vetted through our Board of Directors and, where appropriate, a competitive bid process. For more information on any of our programs please contact the CSAC Finance Corporation staff:
Alan Fernandes, Executive Vice President
Laura Labanieh, Director of Operations