The Cash Management Department is responsible for accounting for, processing, and managing the cash and investment transactions for the Niagara Frontier Transportation Authority (NFTA) and the Niagara Frontier Transit Metro, Inc. (NFTM). NFTA and NFTM funds are held in checking accounts, savings accounts, money market accounts, certificates of deposit and Treasury Bills across five banks and financial institutions.

NFTA’s funds come primarily from various sources including, but not limited to, airline passenger facility charges; a portion of airport concessions, parking fees, and rental car fees; state and federal funds, and intercompany charges. NFTM’s funds come primarily from sources that include, but are not limited to, passenger fares for buses, the light rail rapid transit, and paratransit access services; a portion of Erie and Niagara County mortgage and sales tax collections; and New York state operating assistance.

There are dedicated employees responsible for accounting for and processing the NFTA and NFTM transactions. The following is a breakdown of the current staffing for the Cash Management Department.

• Director of Budget
• Deputy Director of Budget
• Cash Management Account Assistant (NFTA) (2)
• Cash Management Specialist (NFTM) (2)
• Money Room Supervisor
• Counter-Wrapper Clerk (NFTM) (2)

Department activities include, but are not limited to, counting the daily cash collections from bus and rail services and preparing the bank deposit; recording and depositing checks received from various sources; recording the automated deposits sent directly to banks; recording payments to health and dental insurance companies for claims and administrative fees; transferring funds between NFTA and NFTM bank accounts, as necessary; reconciling the monthly bank statements; investing funds according to the company’s investment policy and preparing various reports for internal customers, external parties and the Board of Directors.