Participants enjoy safety of principal,daily liquidity, and competitive yields. The LGIP-GOV is established under the same administrative rules as the LGIP, except that pool investments are limited to those securities that carry the full faith and credit of the United States Government. In addition to the management of the LGIP and LGIP-GOV, the Treasurer's Office operates 19 other investment pools, including Arizona Department of Transportation bond proceeds, and state agency monies. The portfolio includes approximately 650 different issues. The securities range from repurchase agreements and commercial paper to collateralized mortgage obligations and corporate bonds.
Maturities range from overnight to thirty years.
These securities are spread across approximately 455 accounts that comprise the 20 pools under active investment management. Among these investments are thirteen Permanent Endowment Funds with a fair value balance of 1.0 billion. These funds contain proceeds from sales of land granted to the State of Arizona at statehood by the federal government. These funds are permanent trust funds. Until the passage in 1998 of Proposition 102, only the interest earnings were distributed as expendable income.