May 14, 2018
ORANGE COUNTY DISTRICT ATTORNEY/ PUBLIC ADMINISTRATOR AND TREASURER RECOGNIZED BY NATIONAL ASSOCIATION OF COUNTIES WITH 2018 ACHIEVEMENT AWARD FOR MEDALLION SIGNATURE GUARANTEE STAMP PROGRAM
SANTA ANA, Calif. – The Offices of the Orange County District Attorney/Public Administrator (OCDA/PA) and Treasurer-Tax Collector (Treasurer) will be recognized by the National Association of Counties (NACo) with a 2018 Achievement Award in the category of Financial Management for their participation in the Medallion Signature Guarantee Stamp Program. The Achievement Award is given to a county that has furthered the services offered to its residents and improved the administration of the county. In order to receive the award, the program being recognized must have measurable results for the county and demonstrate innovation. The 2018 NACo Achievement Awards Luncheon will take place in Nashville, Tennessee, on Sunday, July 15, 2018.
“Good government means continuously innovating beyond bureaucracy and the status quo. I am impressed with the innovation and ingenuity Treasurer Freidenrich undertook to improve the efficiency and effectiveness of the services offered through the Public Administrator’s office,” OCDA Tony Rackauckas said. “The beneficiaries and families of decedents served by the Public Administrator’s office are the true winners here.”
Treasurer Shari Freidenrich states, “As the banker and Chief Investment Officer for the County of Orange, I worked closely with the OCDA/PA to meet their banking related needs, and, using an innovative approach, we applied and become the first government agency to receive approval for this program and now are able to significantly streamline the PA’s securities transfer process that previously took months when they were using a financial institution.”
About the Medallion Guarantee Stamp Program
Treasurer Shari Freidenrich became the first local government “Certified Medallion User” of a Medallion Signature Guarantee Stamp after completing the training required by the Securities Transfer Agents Medallion Program (STAMP), the Financial Industry’s Signature Guarantee Program. She affixed the first Medallion Guarantee Stamp to several documents for OCDA/PA Tony Rackauckas in July 2017. Treasurer Freidenrich and OCDA Rackauckas worked together to increase the efficiency relating to the transfer of securities from estates administered by the PA. It will also be used by the Treasurer for the transfer of securities donated to the County of Orange. Traditionally, this service has been done by a financial institution, and in December 2016, the County of Orange became the first government agency to be approved to become a Securities Transfer Agent Program Guarantor.
The PA is appointed by the court as the executor responsible for the transfer of securities involving a change of ownership from the deceased person to the estate. The prior process consisted of providing certain documents to a bank, which then went through their due diligence process and then, after a generally lengthy review time, affixed the necessary medallion stamp to the required documents. Thinking outside the box, the PA and the Treasurer worked with Kemark Financial Services, Inc., one of the three providers of the Medallion Signature Guarantee Program, to apply to become a registered service provider for this service, and they approved the application of the County of Orange as the first government agency in the nation. This has solved a long-standing problem with obtaining timely Medallion Signature guarantees and will greatly benefit the County of Orange.
Founded in 1935, NACo unites America’s 3,069 county government in their mission to achieve healthy, vibrant and safe counties across America. NACo works to ensure that counties have the resources, skills and support needed to best support the citizens in their county. Being a member of NACo gives counties access to:
- Programs and services for residents, employees, and future county needs.
- Having NACo representation for the county in Washington, DC to voice the needs of counties and their residents.
- Education and personal development opportunities, such as conferences, webinars, forums, and networking.
- Research materials and data on the counties and their programs.
- Communications through NACo sites, such as County News, blogs, podcasts, newsletters, and social networking.