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Treasurer briefing: idle pool earned about $249 million in FY2024; four state investment vehicles explained
Summary
The state treasurer's office programs—Local Government Investment Pool, Diversified Bond Fund, Idle Pool and Millennium Permanent Endowment Fund—were described to JFAC. The treasurer briefing noted the idle pool earned roughly $249 million in FY2024 and staff posted detailed interest‑by‑fund reports to SharePoint.
Christopher Lahoset, budget and policy analyst working with the Legislative Services Office, summarized the treasurer's office investment programs and recent interest earnings for the committee.
Lahoset described four primary programs the treasurer manages: - Local Government Investment Pool (LGIP): a short‑term, low‑risk pooled vehicle for local governments that invests in short‑term high‑quality securities. - Diversified Bond Fund (DBF): a longer‑horizon fund (typically 3.5 years or more) invested…
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