Cash and Debt Management
(formerly Wilmington Trust) Bank@Work Program
Call the City Treasurer's Office at (302) 576-2480 or M&T Bank at (302) 472-3341.
Cash Management and Investments
- General and capital funds are invested according to the City Treasurer's Office policy.
- Investments are bid to local banking institutions for varying periods.
- Investment policy stresses safety and requires 100% collateralization.
Debt Management and Bond Issuance
- The City funds large-scale projects with a useful life of over 15 years through the issuance of mutual bonds.
- There are two types of bonds - new money for capital projects and refunding of existing bond issues.
- The City funds new projects on a two-year cycle.
- Projects must be approved by the Planning Commission and included in the City's six-year capital program and, ultimately, in the annual capital budget for funding.
- The City Treasurer's Office monitors existing bond issues for refunding opportunities. Lower interest rates many times provide savings opportunities through the issuance of refunding bonds.
- The City of Wilmington's bond rating is AA- by all three major rating agencies (Moody's, Fitch, and Standard & Poor's).
Contact the Treasurer's Office
City Treasurer's Office
Louis L. Redding City/County Building
800 N. French Street, 5th Floor
Wilmington DE 19801
Phone: (302) 576-2480
Fax: (302) 573-5568