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Treasurer outlines investment pools, idle‑cash earnings and reporting: LGIP, DBF, idle pool and Millennium fund explained
Summary
The state treasurer27s office described four investment programs: the Local Government Investment Pool (LGIP), Diversified Bond Fund (DBF), the state idle pool and the Millennium Permanent Endowment Fund; the presentation noted the idle pool earned about $249 million in FY2024 and staff placed supporting reports on committee SharePoint.
Christopher Lahoset, budget and policy analyst with the Legislative Services Office, summarized the state treasurer27s investment programs for the Joint Finance‑Appropriations Committee and noted that staff had posted detailed reports to the committee SharePoint.
Lahoset described the programs the treasurer manages for public entities: the Local Government Investment Pool (LGIP) for short‑term liquidity and safety; the Diversified Bond Fund (DBF) for longer horizon…
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