STAR Ohio Crosses $15B in Investments, Returns Nearly $217M to Participating Governments in FY20
Program has maintained highest possible S&P rating since 1995
COLUMBUS – Ohio Treasurer Robert Sprague recently announced that the State Treasury Asset Reserve (STAR) of Ohio has reached $15 billion in assets for the first time in its history. As of yesterday, the investment pool closed at an all-time high of $15,573,352,472.04.
“STAR Ohio continues to be a sound and trusted investment option for local governments as they battle unforeseen financial challenges brought on by COVID-19,” said Treasurer Sprague. “With its high rating and decades-long track record of success, STAR Ohio plays a vital role in helping local fiscal officers manage public resources.”
STAR Ohio is an investment pool that allows government subdivisions—from municipalities to school districts—to invest in high-grade, short-term securities, while offering safety, penalty-free liquidity, and comparatively higher yields.
Nearly 1,700 entities currently participate in the program and there are almost 2,800 accounts across the state. In state fiscal year 2020, the program distributed nearly $217 million in interest earnings to Ohio government subdivisions.
In the 25 years that STAR Ohio has received a rating from Standard & Poor’s, it has maintained the highest possible investment rating of AAAm. The economies of scale created by pooling funds of Ohio’s governmental subdivisions provide participants with greater earnings potential and increased efficiencies. All eligible entities, regardless of their investment size, are invited to take advantage of this exceptional investment option.
More information on the STAR Ohio program can be found online here.
Robert Sprague became Ohio’s 49th Treasurer of State on January 14, 2019, bringing to the office his extensive experience working on financial matters in both the public and private sectors. Under Treasurer Sprague’s direction, the office manages the state’s $20 billion investment and $10 billion debt portfolios, collects and deposits all state revenues, and oversees custodial assets.