Making accounting and reporting processes more efficient

City of Albuquerque

With Clearwater, the City of Albuquerque has consolidated and up-to-date investment and accounting data on one integrated platform. Clearwater’s user-friendly dashboards provide accounting and performance metrics at a glance, and Clearwater’s customizable reports deliver relevant information to key stakeholders whenever they need it. The City of Albuquerque’s accounting and reporting processes are now much more efficient, allowing them to focus on more strategic initiatives.

• Headquarters Albuquerque, New Mexico
• Assets Under Management $700M
• Website https//www.cabq.gov/

Before Clearwater, the City of Albuquerque’s investment team had to manually enter every trade into three disparate systems – one for custodian data, one for portfolio management, and another for general ledger. This cumbersome manual process also made customizing reports with the specific parameters they needed difficult and time-consuming.

• $700 million in AUM
• 3 manual data entry processes automated
• 100% visibility into investment portfolios

Challenges

• A portfolio of agency bonds, U.S. government debt, open-ended funds, exchange traded funds, and others
• Manually entering each trade into three disparate systems
• Making custom reports was difficult and time-consuming

Results

• Integrated custodian, trading, and general ledger data at a glance
• Daily reconciliation for up-to-date accounting and performance metrics
• Customizable reports and intuitive dashboards
• Automated general ledger for faster period-end close

“Clearwater is a superior tool with impressive graphics and an intuitive interface. We are very pleased with this investment software for our municipal use.”

Chris Daniel, CFA, CPA, CTP, Chief Investment Officer, Department of Finance & Administrative Services, City of Albuquerque, New Mexico