The Local Government Investment Pool (LGIP) is a voluntary investment vehicle operated by the State Treasurer. Over 530 local governments have participated in the pool since it was started in 1986 to provide safe, liquid, and competitive investment options for local government pursuant to RCW 43.250.
The LGIP lets local governments use the State Treasurer’s resources to safely invest their funds while enjoying the economies of scale available from a $10-16 billion pooled fund investment portfolio.
LGIP’s investment objectives are, in priority order: 1) safety of principal, 2) maintaining adequate liquidity to meet cash flows, and 3) providing a competitive interest rate relative to other comparable investment alternatives. LGIP offers 100% liquidity to its participants.
LGIP Participants include: all 39 counties in Washington state; all Washington cities with a population greater than 10,000, and 234 cities and towns total; plus 160 special taxing districts; 30 community colleges and universities; 7 State Agencies; and 24 other public bodies.