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P. M. I. B. Wednesday, September 18, 2019 10:00 a.m.PMI Meeting September 18, 2019, Information Item Creation of New Interest Bearing Demand Account with Bank of the Estate of CaliforniaState Treasurer's
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LAIF stands for Local Agency Investment Fund, which is a pooled investment account managed by the State Treasurer's Office. It allows local agencies in California to invest their surplus funds.
Local agencies in California are required to file LAIF reports with the State Treasurer's Office if they participate in the program.
Local agencies can fill out LAIF reports by providing information on their investments, earnings, and other relevant financial data using the specified forms provided by the State Treasurer's Office.
The purpose of LAIF is to provide local agencies with a safe and convenient investment option for their surplus funds, while also allowing for potential earnings on those investments.
Local agencies must report details on their investments, earnings, expenses, and other financial information related to their participation in the LAIF program.
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