State Pooled Investment Hits $12 Billion

Thursday, May 24, 2018
State Treasurer David H. Lillard, Jr. announced that for the first time in history, the State Pooled Investment Fund (SPIF) has surpassed a $12 billion balance. 

Managed by the Tennessee Department of Treasury, the SPIF is made up of the state’s cash, dedicated reserves and trust funds, and funds from local governments throughout Tennessee who choose to invest with the state.
The Tennessee Department of Treasury actively invests this combination of savings and collections to help the State and local governments grow their financial resources safely and effectively. This active management reduces the need to raise taxes in order to fund day-to-day operations.


“We are proud to be keepers of the public’s money and always look to provide safety and liquidity as we invest and work to grow the funds to provide essential services to citizens,” said Treasurer Lillard. 

The Tennessee Department of Treasury earned $61 million last year for the state and local governments that participate in the SPIF. That $61 million is additional monies earned by the Department on world investment markets - investment earnings that help provide the opportunity to better serve Tennesseans in the future.

Treasurer Lillard points to sound financial management and proactive investment management as the source of success for all of the programs managed by the Tennessee Department of Treasury Investments Division, including the SPIF. This year, the Department of Treasury is projected to earn more than $110 million on behalf of the state and local governments.

“Over the course of the last two years, our team has been able to earn the state and participating local governments more than $170 million. This was accomplished while operating in a near-zero interest rate environment,” said Tim McClure, who serves as assistant chief investment officer and director of Cash Management.

Treasury’s Investment Division maintains an in-house investment management staff with extensive education and training. 29 members have professional designations. This team includes members with a wealth of experience from various fields, including substantial institutional investor experience in both the public and private sectors. The department achieves investment returns consistent with its peers while maintaining an investment expense that is among the lowest in the southeast. 

You can learn more about the Tennessee Department of Treasury and its impact on the state at Treasury.TN.gov.

Patrick, Beard, Schulman & Jacoway, P.C. Attorneys Selected To 2018 Mid-South Super Lawyers List

18 Miller & Martin Attorneys Selected To 2018 Mid-South Super Lawyers And Rising Stars Lists

Attorneys Matt Brock And Garth Best Named Midsouth Rising Stars


Patrick, Beard, Schulman & Jacoway, P.C. announced that Gary R. Patrick, Richard A. Schulman, Michael A. Anderson, John H. Templeton, and Jeremy M. Cothern have been selected by their peers ... (click for more)

Eighteen attorneys with Miller & Martin have been selected by their peers to the 2018 Mid-South Super Lawyers or Mid-South Rising Stars lists. 2018 Mid-South Super Lawyers Donald J. ... (click for more)

Attorneys Matt Brock and Garth Best, partners at the law firm of Best Hayduk Brock PLLC, in Chattanooga, were named as “2018 Rising Stars” for the Midsouth region. The two attorneys shared space ... (click for more)


Business

Patrick, Beard, Schulman & Jacoway, P.C. Attorneys Selected To 2018 Mid-South Super Lawyers List

Patrick, Beard, Schulman & Jacoway, P.C. announced that Gary R. Patrick, Richard A. Schulman, Michael A. Anderson, John H. Templeton, and Jeremy M. Cothern have been selected by their peers for inclusion in the Mid-South Super Lawyers for 2018. Each year, no more than five percent of the lawyers in the states of Arkansas, Mississippi, and Tennessee are selected by the research ... (click for more)

18 Miller & Martin Attorneys Selected To 2018 Mid-South Super Lawyers And Rising Stars Lists

Eighteen attorneys with Miller & Martin have been selected by their peers to the 2018 Mid-South Super Lawyers or Mid-South Rising Stars lists. 2018 Mid-South Super Lawyers Donald J. Aho — Business Litigation Douglas Berry — Eminent Domain John R. Bode — Employment & Labor Mark W. Degler — Mergers & Acquisitions Roger W. Dickson — Business Litigation James ... (click for more)

Breaking News

City Council Considering Interim Ordinance Curbing Development Of Steep Slopes, Floodplains

The City Council is considering action soon on an interim ordinance curbing development of steep slopes and floodplains. The measure would limit development of slopes of 33 percent grade or more to 20 percent of those steep grades. It would allow no more than 51 percent of a floodplain to be developed. A large number of developers in the audience indicated they are strongly ... (click for more)

Chicago Drug Dealer Who Supplied Large Amount Of Heroin To Chattanooga Contacts Found Guilty By Federal Jury

A Chicago drug dealer who prosecutors said supplied a large amount of heroin to sources in Chattanooga was found guilty by a federal jury in Chattanooga on Tuesday. James Silas, 50, was convicted of conspiring to distribute one kilogram or more of heroin. Sentencing is set for April 24 at 2 p.m. by Judge Curtis Collier, who presided over the trial. Based on a prior drug ... (click for more)

Opinion

Thanks To First Volunteer Bank

Thank you to the Highway 58 branch of First Volunteer Bank. On behalf of the Ernie Pyle Chapter of the Military Order of the Purple Heart, I would like to express our appreciation to the manager and staff of the HIghway 58 Branch of First Volunteer Bank for putting on a Veterans Day lunch in the lobby of your bank on Friday, Nov. 9. It was a cold and rainy day and Army, Marines ... (click for more)

Roy Exum: It’s A Racist Thing

Being a child of the South, I’ve marveled at our funny sayings for all of my life. I’ve been at a football game and heard a disgruntled fan in the stands say of his team’s quarterback, “That boy couldn’t play dead in a cowboy movie.” I’ve been at the Sunday supper table and heard, “I’m of a mind each one of his sermons is better than the next.” And I’ve sat in a Saturday morning ... (click for more)