do not disclose.



The pooled cash investments "are in an account at Steve Sapp told the Heart Beat. UBS Investment Consulting manages another $118 million in police and firefighter pension investments, he added. A Swiss bank holds the CDs, money markets, and other liquid investments, a detail the city's financial reportsThe pooled cash investments "are in an account at UBS (Union Bank of Switzerland/Swiss Bank Corp.) and have been since 1994," city spokespersontold the Heart Beat. UBS Investment Consulting manages another $118 million in police and firefighter pension investments, he added.





UBS has held the city's giant savings account for 23 years possibly because City Hall considers the money off limits. Day-to-day banking -- money for bill payments, paychecks, and so forth -- stays closer to home at US Bank , Sapp explained.

Despite gloom-and-doom budget talk from Columbia city manager, City Hall's massive savings account wasin the 9-month period from Sept. 2015 to June 2016.The June figure -- the latest available from the Comprehensive Annual Financial Report (CAFR) -- shows city government sitting on over $306 million ($306,000,000.00), up from 2015's $299 million (see charts -- click for larger images).Known as "pooled cash and marketable securities," the money represents decades of excess revenues the private sector calls "profits",The revenue comes from fees, fines, grants, taxes, and what may be the city's largest cash cow, charges for water, sewer, trash, parking, electric, and other utilities.