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Treasurer’s office describes four investment programs and confirms interest reports will be shared with JFAC
Summary
LSO and treasurer’s-office materials described four investment programs the state uses — LGIP, Diversified Bond Fund, Idle Pool, and the Millennium Permanent Endowment Fund — and noted the Idle Pool earned about $24.9 million in FY2024.
Christopher Lahoset, a budget and policy analyst with the Legislative Services Office, summarized the programs the State Treasurer’s Office runs to manage public cash and investments and explained how interest earnings are recorded.
Lahoset described four principal programs: - Local Government Investment Pool (LGIP): a short-term, low-risk pool for local governments (cities, counties, school districts) to invest idle funds while retaining liquidity. - Diversified Bond Fund (DBF): a longer-term bond fund (three-and-a-half years or longer horizon) for state and public…
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