Case Study: Cary, NC
Cary is located in the heart of the dynamic Research Triangle Park region and frequently earns recognition as one of the top places to live in the U.S. Davenport has served as Cary’s municipal advisor since 2007, assisting the town with capital and debt planning for the general fund as well as the water & sewer utility system.
As a full-service advisor, Davenport’s planning services have included financial policy review, debt capacity and affordability analysis, peer comparatives and utility financial pro forma development. Davenport has also assisted Cary with more than $700 million of debt financings, with services including comprehensive credit rating strategy, evaluation of financing alternatives and plan of finance development, monitoring of refinancing opportunities, assistance with selection of financing participants, and financing execution.
Case Study: City of Raleigh, NC
The City of Raleigh has been one of Davenport’s Investment Management clients for more than 20 years. The Investment Management program is an investment partnership where the City maintains in house control of the investing process, and Davenport provides a comprehensive investment plan and professional oversight. Safety, liquidity and yield are the program’s fundamental objectives.
Through use of this program, the City has consistently outperformed short term benchmarks by employing an investment ladder of primarily treasuries and agencies matched against future cash flow needs. A predetermined liquidity position is also maintained to account for unexpected cash flow.