Local Government Investment Pool
The Cash Management & Investments Division manages the very successful LGIP, which is used by various governmental entities on a completely voluntary basis. The LGIP enables these governmental entities to maximize the return on investment, adhere to Code investment requirements, and realize the economies of large scale investing and professional funds management. The LGIP is managed in a manner consistent with the "2a7-like pool" requirements of Statement No. 31 of the Governmental Accounting Standards Board and has been rated AAAm by Standard & Poor's, the highest rating awarded to such funds.
Through the years LGIP participants have earned a very competitive rate of return while at the same time having daily access to their funds. This is possible through the depth of Treasury's investment management expertise, economies of scale, and a low investment management fee. Each participant owns proportional shares of a diversified investment portfolio, which is actively managed to comply with Virginia's Investment of Public Funds statutes, all GASB requirements, and Commonwealth of Virginia Treasury Board investment guidelines.
Detailed information can be found by clicking on the link to our online LGIP Investment Circular or contact us toll-free at (800) 643-7800. Belinda Blanchard, who manages the program or Stacey Piercy, the LGIP Client Services Analyst, will be glad to assist you with your questions or provide additional information.
If the LGIP can add value to your investment program, an online application is provided for your convenience. To open an account, please submit a completed application with original signature to the address at the top of the form.