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Treasurer outlines investment pools and interest earnings; members ask where interest is credited
Summary
The state treasurer's office described four investment pools (LGIP, Diversified Bond Fund, idle pool, and Millennium Permanent Endowment Fund) and acknowledged interest-crediting rules vary by fund; committee members requested reports showing where interest earnings are recorded and what statutes govern those flows.
Christopher Lahoset, a budget and policy analyst in the Legislative Services Office, summarized the Idaho State Treasurer's investment programs and recent interest earnings for members of the Joint Finance-Appropriations Committee.
Lahoset described the Local Government Investment Pool (LGIP) as a low-risk short-term vehicle for cities, counties, school districts and other local governments; its investments focus on short-term high-quality securities. He explained the Diversified Bond Fund (DBF) is intended for longer horizons (about…
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