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State treasurer's office outlines LGIP, diversified bond fund, idle pool and Millennium endowment; idle pool earned $249M in FY2024
Summary
Legislative staff described four investment pools managed by the State Treasurer and said the treasury's idle cash pool earned over $249 million in fiscal year 2024.
Christopher Lahoset, budget and policy analyst at the Legislative Services Office, presented an overview of the investment and cash-management programs the Idaho State Treasurer manages and how interest earnings are reported.
Lahoset described the treasurer's four main programs: the Local Government Investment Pool (LGIP) for local governments, the Diversified Bond Fund (DBF) for longer-term public agency investments (minimum $250,000 initial investment; annual fee 0.017%), the idle pool (the…
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