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Treasurer programs, pooled funds and interest flows discussed; staff to post fund-by-fund interest reports
Summary
Legislative staff summarized programs managed by the state treasurer — Local Government Investment Pool, Diversified Bond Fund, idle pool and Millennium Permanent Endowment Fund — and said fund interest-direction is set by statute; staff promised and posted a fund-level interest report to SharePoint.
Christopher Lahoset, budget and policy analyst, summarized the treasurer-managed investment programs and answered committee questions about interest earnings and where interest is credited.
Programs explained: Lahoset described four programs the treasurer manages: the Local Government Investment Pool (LGIP) for municipalities and school districts; the Diversified Bond Fund (DBF) for longer‑horizon…
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