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Treasurer's office briefs JFAC: idle pool earned about $249 million in FY2024; local and diversified pools support local governments and agencies
Summary
Treasure's office staff described four investment programs (LGIP, diversified bond fund, idle pool and the Millennium endowment) and confirmed interest directions are governed by statute and distributed by fund; idle pool interest was reported at about $249 million in FY2024.
Christopher Lahoset, a budget and policy analyst at the Legislative Services Office, presented an overview of investment programs managed by the State Treasurer's Office and summarized recent earnings for committee members.
Lahoset described four programs: - Local Government Investment Pool (LGIP): a short‑term, low‑risk pooled option for cities, counties, school districts and other local governments, holding short maturity U.S. Treasuries and similar securities. Idaho code 67‑12‑26 governs participant access and program operations. - Diversified Bond Fund (DBF): a longer‑term bond portfolio for…
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