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State treasurer's portfolio manager briefs Payson on LGIP returns, town finance staff explains process
Summary
A State Treasurer portfolio manager described the Arizona Local Government Investment Pool's structure, short- and medium-term fund options and recent yields; Payson finance staff explained the LGIP is the town's operating 'savings' account into which state revenues are deposited and from which transfers are made to operating funds.
Jake Richardson, portfolio manager for the State Treasurer's office, presented the structure and performance of Arizona's Local Government Investment Pool (LGIP) to the Payson council on Feb. 12. Richardson described the LGIP's short-term pools (Pool 5 and Pool 7), medium-term pools (500, 700), and the Arizona Endowment Trust Fund and compared yields and liquidity characteristics.
Key figures Richardson reported…
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