About ACCG
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ACCG Financial Services Overview
Staff:
Mike Stewart
(404) 522-5022 ext. 161
mstewart@
Adam Edge
(404) 522-5022 ext. 160
aedge@
In 1989 ACCG introduced its first service program – the Equipment Leasing Program. Since then, we have expanded our Financial & Management Services to include a variety of professional programs, each crafted to take advantage of economies of scale that exist in ACCG’s membership. Because suppliers understand the immense buying power represented by the pooled resources of Georgia’s counties, ACCG is able to negotiate favorable rates for products and services.
ACCG also acts as a neutral third-party consultant for counties purchasing services that are difficult to evaluate. For example, a county that needs to build a jail often has difficulty deciding how to finance such a capital project. Because new capital projects occur infrequently, many commissioners and county staff do not have previous experience with them. To whom does the county turn? Banks and underwriting firms clamor for attention, but they just add to the confusion by promoting the types of financing that their institutions provide – not necessarily the best financing option for our example county.
ACCG staff, on the other hand, can help a county consider all the alternatives because we frequently help our member finance projects. We don’t work with any particular lending institution so we can give our members advice from an objective prospective.
ACCG continues to look for new services that will help our members promote efficient and effective local government. Our goal is to help counties make their tax dollars go further when purchasing products and services.
Bricks & Mortar
County governments are increasingly called upon to construct capital facilities to meet service demands. Counties have a number of options available to pay for these projects, including cash financing, general obligation or revenue debt, special purpose local option sales tax, federal or state grants, or lease-purchase contracting.
Under the ACCG Leasing Program, funds to pay for participants' projects are raised through the sale of ACCG securities in the financial marketplace or through direct bank loans. These are referred to as Certificates of Participation and Installment Sales respectively.
To participate, counties must meet standard measures of financial stability and must need the funds for essential county government purposes. The timing of each issue is dictated by participating counties' needs and market conditions. Participating counties lease their facilities from the association until their final lease payment is made. Within the past five years, ACCG has participated and assisted with over $275 million worth of projects.
Equipment Leasing
ACCG began the Equipment Leasing Program after counties expressed a need to acquire major capital items. The goal of the program is to improve ease of application and administration for leases, while providing low interest rates for participating counties. Over $100 million for individual capital needs has been provided through the program to more than 60 counties.
Under the program, ACCG leases equipment purchased to counties, using funds provided through the program's financial institution, Wachovia Bank of Georgia. Financing can be for a period of time not exceeding the useful life of items financed and counties must meet established credit tests, including balanced budgets and expenditures, demonstrate a sound financial history, a healthy local economy and a positive general fund balance.
Rates available to counties are extremely competitive and counties are encouraged to call ACCG to get a rate quote. Rates change weekly depending on market conditions, but are at a fixed rate once the county executes its contract to lease purchases. Rates are competitive and make lease-purchasing a viable option for paying as you go. The map pictured includes counties that have most recently participated in this program.
Equipment Leasing and Bricks and Mortar Contacts at Wachovia: (Important Note: we will work with all banks)
Christa Holland, Phone: 678-589-4311 or Patrick Hennessey, Phone: 678-589-4341
US Communities
US Communities is ACCG’s partner for government purchases. Their alliance with competitively bid suppliers provides counties with a discounted option for various items. US Communities has suppliers for Office Products, Furniture, Carpeting, Roofing, Automotive Supplies, Janitorial Supplies, and Playground Equipment.
Local governments interested in saving substantial amounts of money on commodities purchases have an ally in the U.S. Communities Government Purchasing Alliance. The Alliance was formed in 1996 to provide publicly-solicited government contracts to all local and state agencies and non-profit organizations in the United States. By combining the buying power of the 87,000 local governments in America, the program is able to achieve substantial pricing discounts, implement best purchasing practices and offer substantial benefits to all levels of government.
Mary L. Pelfrey
Phone: 704-564-0320
Email: mpelfrey@
GovDeals
GovDeals provides state-of-the art online auction services to governmental entities throughout the United States. Endorsed by ACCG in 2006, GovDeals provides counties with two areas of service. First, counties can easily sale surplus items. Items are sold “as is, where is” which allows counties to sell items as soon as they are declared surplus and it is the purchasers responsibility to pick up the items. Secondly, counties can purchase surplus items from other government entities. This provides access for counties to sellers in 18 states representing state, county and city government.
Christy Cleckler
Manager
Strategic Partnerships
Phone: 334-387-0476
Email: ccleckler@
Taylor Wilkins, III
Sale Representative
Southeast Region
Phone: 251-751-9357
Email: twilkins@
OPEB VALUATIONS
We have a contract with Cavanaugh Macdonald to perform OPEB valuations only for counties that have OPEB liability.
Ed Macdonald
President
Phone: 678-388-1701 or 678-362-4556
Email: EdM@
For additional information regarding all of ACCG’s financial services please visit our website at .
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