Cash Management and Investment
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| Average daily balance |
$256.6 million |
| Balance at December 31, 2005 |
$334.1 million |
| Interest earned |
$8.2 million |
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Portfolio at December 31, 2005:
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| State Pool |
$301.4 million |
| Money market mutual funds |
$20.1 million |
| Daily repurchase agreements |
$11.8 million |
| Treasuries and government agencies |
$0.8 million |
In addition to the investments described above, third party trustees held bond proceeds totaling approximately $186.6 million as of December 31, 2005.
The State of Utah’s Utah Money Management Act, Title 51, Chapter 7 governs the investment of all funds held by public treasurers in the state.
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