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Board approves higher Q1 book-return target after treasury reports record investment earnings
Summary
The State Board of Finance approved raising the Q1 fiscal 2025 target book-return range to 3.5%–3.6% after the Treasurer's office reported record FY2024 investment earnings and portfolio growth.
The State Board of Finance voted to raise its target rate of book-return value for the first quarter of fiscal 2025 to a range of 3.5%–3.6% for the July 1'Sept. 30 period, after hearing a presentation on portfolio performance from the Treasurer's investment team.
Stephen Kilgore, Director of Investment Accounting, reported that short-term investment revenue for the quarter totaled about $28,930,000 and that long-term ledger…
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