BOI Board Room

Montana Board of Investments Annual Report

The Fiscal Year 2020 Annual Report was posted to this website for public access on December 31, 2020.  It is also available in print by request.


Karl J. Englund, Board Chair


The Board's Three Missions and its Short Term Investment Pool (STIP)

Unified Investments Program

By law, the Board administers the Unified Investments Program required by the Montana Constitution. With very few exceptions, all money is invested by the Board.

In-State Loan Programs

As a component of the State's overall economic development efforts, the Board administers various loan and infrastructure programs for new and expanding businesses.

Municipal Finance Programs

The INTERCAP program provides low-interest loans for a wide variety of needs to Montana local governments.

Short-Term Investment Programs

The Board's Short Term Investment Pool is a highly liquid investment fund available to state and local governments to serve their short term cash flow and deposit needs.

Feedback, suggestions, or questions are welcome and can be directed to:

Dan Villa
Executive Director

2401 COLONIAL DR, 3RD FLOOR | PO BOX 200126 | HELENA, MT 59620-0126 | P: 406.444.0001 | F: 406.449.6579 | TDD: 406.841.2702


Dan Villa
Executive Director

     Lindsay Ford
     Executive Assistant | Board Secretary


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