Diversified Bond Fund (DBF)
The Diversified Bond Fund (DBF) has been created by the Idaho State Treasurer's Office as an alternative investment to the short term investment funds such as the Local Government Investment Pool (LGIP) and IDLE, for those state agencies and public agencies who are able to assume less liquidity and more price volatility for the potential of greater returns over the long run.
IDLE is responsible for balancing daily cash flows (monies flowing in and out). Any idle monies after cash flow transactions have been balanced are invested in either short-term or long-term ventures at the best rate possible at the safest level of risk. IDLE guarantees that there will be adequate money for all of the state's appropriations. IDLE handles all short-term investing and out-sources all long-term investing.
Local Government Investment Pool (LGIP)
The Local Government Investment Pool (LGIP) is an investment pool with the primary purpose of providing a safe liquid vehicle for investing idle funds and to obtain the best interest rate available at the time of investment.
The Idaho Millennium Fund was established as an endowment fund to receive, invest, and disburse funds that the State of Idaho is receiving as a result of the master settlement agreement reached with tobacco companies. The master settlement agreement was a class-action lawsuit in which states sued the tobacco companies for marketing to minors via cartoons, sports teams, celebrities, etc. The states prevailed and each year they receive money from this ruling. The money is used to help prevent underage tobacco use and to help educate about the dangers associated with tobacco use.
“Bid Idaho” is a unique technology-driven program that allows Idaho banks to bid online for state Certificate of Deposit funds. This effort results in higher earnings for the state and Idaho taxpayers. Under this program, both large and small Idaho financial institutions have an equal opportunity to acquire state funds.
The Idaho eBank system provides a management tool for LGIP and DBF Investment Pool Participants, while also serving as a resource for debt managed by the State Treasurer's Office.