ICS and CDARS Overview for Government Finance Officers
As a manager of public funds, you work to keep monies for local governments, schools, police departments, public hospitals, roads, public utilities, and other public entities safe. This work does not come without challenges.
Through the ICS®, or Insured Cash Sweep®, service, you can place public funds into interest-bearing demand deposit accounts and/or money market deposit accounts that are eligible for FDIC insurance (which can eliminate ongoing collateral-tracking burdens and having uninsured funds to footnote in financial statements). And Insured Cash Sweep makes it easier than ever for you to earn a return while protecting the public’s vital resources.
Infographic: Usage by State
View this short video to learn how public fund managers can benefit from CDARS and the ICS service.