State Board of Deposit
Report
The State Board of Deposit was established in 1980 to review investments made by the State Treasurer. The five member board meets monthly and consists of the State Treasurer, Director of the Department of Administration, State Superintendent of Banks, and two appointees. The sunset review addressed three issues and recommended that the Legislature amend statute to: 1) provide that appointees to the Board have financial backgrounds and investment expertise; 2) ensure that one appointee also represent a local government entity investing in the Local Government Investment Pool; and 3) change the name of the State Board of Deposit to the State Board of Investment. The Board agrees with all of the recommendations.