Articles in regional publications that pertain to a wide range of North Carolina-related topics.
for Investment of public funds
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Local Government Investment Pools, LGIPs, permit local governments to invest excess cash in coordination with other local branches or state agencies which typically yield higher returns than individual investments. The state was only one of twelve in the country participating in LGIPs in 1981. Management of these funds fell to the state treasurer who opened and managed a private mutual fund for small government branches.
Courtesy of the American Recovery and Reinvestment Act, the federal government sent North Carolina more than $6 billion. Projects from road reconstruction to extended unemployment benefits have benefited in many positive ways from the reinvestment funds and are expected to be used in other areas such as education and information technology.