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Treasury Operations

Dollars

Contact Information

Sasscer Administration Building
14201 School Lane Room 113
Upper Marlboro, Maryland 20772
301-952-6070
301-952-6776
 
Sharif Weithers
Assistant Treasurer 

Treasury Operations Staff List

Areas of Responsibility

Investments

Investment of temporarily idle funds is made in accordance with Section 22 of Article 95 of the Annotated Code of Maryland, related Board of Education policy and School System procedures and is limited to securities issued or guaranteed by the Federal government.  Investments are made principally in the Maryland Local Government Investment Pool (MLGIP), which is under control of the Maryland State Treasurer and is designed to provide all local government units of the state an investment vehicle for the short-term investment of funds.  In FY 2016, the average investment was $182 million.

 Investment Policy & Procedures See Attachment 1; See Attachment 2

Lease-Purchase Agreements

Each year, the school system enters into lease purchase agreements to finance expenditures for items such as buses, equipment, textbooks, and energy performance contracts.  All items purchased under lease purchase agreements are pledged as collateral under the agreements.

The schedule below lists the current leases including the lessor, interest amount, maturity date, and total principal outstanding.  All leases have a fixed interest rate and annual payment.

Lease Payment Schedule for Debt Ratio Calculations FY17

Includes Energy Performance Leases as of December 31, 2016

      Last or Next
  Principal Interest
    Original Principal
Agreement     FY Lender Payment Payment Component
Component of
Interest
Maturity
Principal Outstanding
Date     Date Amount Payment Amount Payment Amount
Rate
Date Amount at December 31, 2016
                     
06/05/12 12 SunTrust Equipment Leasing (Re-Fi JCI) 07/06/17 2,911,156.33 2,168,277.91 742,878.42 2.99% 7/06/26 35,818,218.39 24,845,431.98
06/01/12 12 Capital One (Re-Fi PEPCO) 07/06/17 3,570,319.62 2,851,265.17 719,054.45 3.48% 07/06/23 31,797,222.98 20,662,484.21
06/05/12 12 SunTrust Equipment Leasing (Re-Fi JCI/PES) 07/02/17 3,175,051.30 2,950,941.08 224,110.22 2.47% 07/02/19 23,357,731.15 9,073,288.27
08/28/13 14 Grant Capital/SunTrust 09/14/16 9,354,219.86 9,160,252.22 193,967.64 1.0532% 09/17/17 45,796,910.00 9,256,728.01
09/17/14 15 Grant Capital/SunTrust 09/23/16 7,073,212.76 6,847,073.98 226,138.78 1.089% 09/23/18 34,605,026.00 13,918,653.89
09/28/15 16 Grant Capital/TD Bank 09/30/16 8,844,008.56 8,421,974.52 422,034.04 1.229% 09/30/19 43,140,823.00 25,892,526.22
11/21/15 17 Grant Capital/TD Bank 11/30/16 4,793,476.13 4,786,379.60 7,096.53 1.213% 11/30/20 23,392,431.00 18,606,051.40
TOTAL       39,721,444.56  37,186,164.48  2,535,280.08     237,908,362.52 122,255,163.98

 

 

Other Services

My SchoolBucks

MySchoolbucks (MSB) is an online payment service that provides parents and the community the ability to securely pay for meals, tuition, events , replacement I.D. badges, and more. With MSB, payments can be made 24/7 using a VISA, Mastercard, Discover credit card or debit card. the website is owned and operated by Heartland Payment Systems, one of the largest and trusted payment processors in the country. MSB has achieved and maintains the highest security certifications in the industry, and all transactions are secured by 128-bit encryption and other precautionary security measures.

Resources

Direct Deposits

NOTE: PGCPS no longer allows employees to pick up checks or deliver checks to work locations. All checks will be mailed to the employee's address on record.
iExpense for Treasury Operations

Vendor ACH Form 

To enroll, change, or cancel a direct deposit for a third-party vendor, please complete the Vendor ACH form (PDF). Please note that the Electronic Payments are executed only for valid Purchase orders in our Financial System. Please mail the original form to the address below, along with an original voided check or bank letter. The original completed form must either be printed with color logo or signed in blue ink. The address is as follows: Prince George's County Public Schools Treasury Operations Office Room 113 14201 School Lane Upper Marlboro, MD 20772

Our Mission

The mission of the Office of Treasury Operations is to conduct treasury management activities that will safeguard and maximize the cash resources of the Board of Education in a manner conducive to the enhancement of the provision of quality education to the children of Prince George's County.

OBJECTIVES: Maximize cash available to meet daily cash needs and for investment purposes; safeguard cash through internal controls and procedures; Perform timely and proficient receipt, deposit, disbursement and investment of funds in support of the school system; Provide professional and effective service to internal and external customers.