Short-Term Investment Pool
The Short-Term Investment Pool (STIP) was created by the Legislature on July 1, 1973 as an investment vehicle to manage state and local government cash. Since its creation, the STIP has provided a safe, convenient way for state and local government agencies to invest and withdraw cash by the next business day (if submitted prior to 2 PM). Local governments have other investment options as permitted by law and use the STIP at their discretion.
STIP maintains a STIP reserve account that may be used to offset realized gains or losses. Additionally, the reserve will be available to limit fluctuations in the net asset value (NAV), to the extent deemed prudent by staff.