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Treasurers office details four investment pools; FY2024 idle-pool interest totaled about $249 million
Summary
The state treasurers office presented an overview of its investment programs: the Local Government Investment Pool, Diversified Bond Fund, Idle Pool and the Millennium Permanent Endowment Fund. Staff noted the idle pool earned about $249 million in FY2024 and that interest distribution rules are set in statute.
Christopher Lahoset, budget and policy analyst, Legislative Services Office, summarized the investment programs managed by the State Treasurer's Office and how interest earnings are reported to the legislature.
Programs described: Lahoset outlined four programs: - Local Government Investment Pool (LGIP): a short-term, low-risk pooled vehicle for local governments to earn interest on idle funds (governed by Idaho Code 67-1226). - Diversified Bond Fund (DBF): a longer-horizon pooled bond vehicle suitable for public agencies with a typical horizon of 3.5 years or…
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