A lot of people don’t realize this, but the Office of State Treasurer is dealing with billions of dollars a day.
Billions with a big “B”.
In February, the amount of money we were in charge of, deposited and withdrew from programs, totaled $6,199,559, 203 – give or take a few cents.
One of the biggest programs we work with is the Local Government Investment Pool. Transactions for that program hit $1,586,700,197 in February. On a daily basis, the LGIP manager was depositing and withdrawing, on average, $83,510,536 daily! All of this money is used by local government entities for projects in their communities. The LGIP makes up 37.6% of the State Investment Fund, the investment vehicle for cash and short-term investments of various state and local government funds. These funds are invested by the State of Wisconsin Investment Board (SWIB), which invests the funds with three objectives in mind – safety of the principal, liquidity, and competitive money market returns. 97% of the fund is currently invested in U.S. Government Securities.
The College Savings Plan, or EdVest, had total assets in February of $2,634,903,732. And Unclaimed Property’s Program Value reached $399,485,870. There are 1.8 million accounts in unclaimed property.
And the $6.2 billion doesn’t even count the money the State Treasurer helps manage as a Commissioner on the Board of Commissioners of Public Lands. That‘s $840 Million with $32.2 Million gross earnings last year.
For more on what we do, read our monthly Treasury Notes!