Page 25 - City of Moreno Valley Invstment and Cash Management Program
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California State
TREASURER’S OFFICE
The California Debt and Investment Advisory Commission (CDIAC) has an extensive listing of
resources available on their website (www.treasurer.ca.gov/cdiac/). CDIAC operates out of the
California State Treasurer’s Office and provides guidance on public investment and municipal
debt programs within the State.
LOCAL AGENCY INVESTMENT FUND (LAIF)
The Local Agency Investment Fund (LAIF) is a voluntary program created by statute that began
operation in 1977. The fund offers local agencies the opportunity to participate in a major portfolio,
which invests hundreds of millions of dollars, using the investment expertise of the State Treasurer’s
Office investment staff at no additional cost to the taxpayer. The program provides participants with
same day access to their funds while providing rates similar to the 1 year Treasury.
The LAIF has grown from 293 participants and $468 million in 1977 to 2,401 participants and $20.2
billion at the end of September 2018.
Historical earnings rates and other program related data can be found at the State Treasurer’s website
(www.treasurer.ca.gov/pmia-laif).
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