Investments
Authorized investments for local governments are prescribed by state statute. Pursuant to state statute, local officials for Tennessee’s counties, metropolitan governments, municipalities, and utility districts must receive approval from the Division of Local Government Finance prior to executing certain investments.
For Authorized County Investments see TENN. CODE ANN. § 5-8-301.
For Committee on Investment see TENN. CODE ANN. § 5-8-302.
Local governments with bank deposits that are in excess of the amount covered by FDIC insurance must either maintain the deposit with a bank that is a member of the bank collateral pool or collateralize the deposit in accordance with State statues.
The Tennessee Department of Treasury administers a short-term and an intermediate term investment program for counties, municipalities, and utility districts.
Short-Term Duration - Average Maturity of 90 Days
Local Government Investment Pool
Intermediate-Term Duration - Average Maturity of 3 Years
Guide to Investing Idle County Funds
In response to further clarification of what investments are authorized for county governments, the Division of Local Government Audit has prepared a guide to address some of the most common investment choices available to trustees.
For Authorized Municipality Investments see Tenn. Code Ann. § 6-56-106.
Local governments with bank deposits that are in excess of the amount covered by FDIC insurance must either maintain the deposit with a bank that is a member of the bank collateral pool or collateralize the deposit in accordance with State statues.
The Tennessee Department of Treasury administers a short-term and an intermediate term investment program for counties, municipalities, and utility districts.
Short-Term Duration - Average Maturity of 90 Days
Local Government Investment Pool
Intermediate-Term Duration - Average Maturity of 3 Years
For Authorized Utility District Investments see Tenn. Code Ann. § 7-82-108.
Local governments with bank deposits that are in excess of the amount covered by FDIC insurance must either maintain the deposit with a bank that is a member of the bank collateral pool or collateralize the deposit in accordance with State statues.
The Tennessee Department of Treasury administers a short-term and an intermediate term investment program for counties, municipalities, and utility districts.
Short-Term Duration - Average Maturity of 90 Days
Local Government Investment Pool
Intermediate-Term Duration - Average Maturity of 3 Years
For Authorized E-911 District Investments see TENN. CODE ANN. § 5-8-301.
Local governments with bank deposits that are in excess of the amount covered by FDIC insurance must either maintain the deposit with a bank that is a member of the bank collateral pool or collateralize the deposit in accordance with State statues.
The Tennessee Department of Treasury administers a short-term and an intermediate term investment program for counties, municipalities, and utility districts.
Short-Term Duration - Average Maturity of 90 Days
Local Government Investment Pool
Intermediate-Term Duration - Average Maturity of 3 Years