Local Government Investment Pool (LGIP)

Special Update for LGIP Participants

We want to reassure our LGIP participants that we do not hold any Silicon Valley Bank in our state and local government investment portfolios, nor do we have any funds on deposit with that bank.

Our focus areas for the state and local government portfolios are liquidity and safety. In accordance with State law, the portfolios invest in short-term securities, like US Treasuries and commercial paper, to get a competitive yield while meeting our needs to generate operating capital for state entities and our local government pool participants.

We follow a very stringent investment compliance plan. If you have further questions, please feel free to contact us at lgip@sto.sc.gov.

Providing local governments an opportunity to acquire maximum returns

LGIP is an investment mechanism authorized by the Legislature and signed into law on May 13, 1983, to provide local governments an opportunity to acquire maximum returns on investments by pooling available funds with funds from other political subdivisions. Section 6-6-10, Section 12-45-220 and Section 11-1-60 of the 1976 Code of Laws of South Carolina authorize the State Treasurer to sell to all political subdivisions of the State participation units in the Pool, which shall be legal investments for the subdivisions.

  • As of December 2022, there are more than 1,000 accounts within the pool, totaling more than $10.7 billion.
  • Participants include 103 municipalities, 71 school districts, 40 counties, 64 special purpose districts and more.

LGIP Eligible Entities infographic

 

Learn more with our infographic: 
What is the SC LGIP? (PDF)




 

LGIP Average Monthly Rates

The average monthly rates, reflect an average of the daily rate to participants. Please refer to your statements for actual monthly rate.

Month FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2023
July 0.28 0.71 1.08 2.07 2.42 0.50 0.11 1.72
August 0.30 0.70 1.06 2.10 2.28 0.34 0.10 2.32
September 0.35 0.78 1.08 2.09 2.18 0.28 0.10 2.62
October 0.40 0.77 1.10 2.26 2.08 0.21 0.10 3.24
November 0.39 0.78 1.12 2.31 1.92 0.17 0.11 3.94
December 0.49 0.86 1.24 2.39 1.84 0.16 0.14 4.32
January 0.57 0.90 1.35 2.43 1.81 0.16 0.15 4.57
February 0.63 0.92 1.44 2.43 1.74 0.14 0.17 4.75
March 0.70 0.97 1.68 2.47 1.58 0.13 0.34  
April 0.67 1.01 1.88 2.45 1.40 0.13 0.52  
May 0.69 1.01 1.94 2.41 1.00 0.11 0.87  
June 0.70 1.07 2.01 2.30 0.76 0.09 1.26  

 

Resources

LGIP Financial Statements:

LGIP Newsletters:

iPAS:

Forms and Instructions: