By: Ohio Treasurer Robert Sprague
It’s safe to say, as public officials, our goal is to build our communities on a sound financial footing. Since becoming Ohio’s Treasurer in January, I’ve made it my office’s mission to be a responsible steward of taxpayer dollars and a wise investor in Ohio’s future. One way we do that is through our program offerings for local governments.
The State Treasury Asset Reserve of Ohio (STAR Ohio) is an investment fund 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. Since the program was launched more than 30 years ago, it’s grown tremendously and currently serves more than 2,500 participant accounts across Ohio.
The Treasury serves as the investment advisor and administrator of STAR Ohio, managing the investment and re-investment of the fund’s assets. STAR Ohio invests in high-grade financial instruments authorized by the State of Ohio in order to meet these objectives for the local government: preservation of capital, maintenance of liquidity, and provision of current income. Since 1995, the fund has maintained Standard & Poor’s highest rating of AAAm, proving that investments are safe and secure.
STAR Ohio offers many benefits to local governments. Pooling investments through STAR Ohio provides a powerful resource for government subdivisions, enabling all participants to have equal buying power and the ability to receive the same rate of return on their investment. The increased earning power of a sizable pool results in higher average yields when compared to conventional investment vehicles. Through the STAR Ohio website, participants can view accurate information regarding current balances, month-to-date income and current yields, as well as current and historical account statements. Deposits, transfers and withdrawals can be made daily.
More information can be found on our website: www.ohiotreasurer.gov/starohio. If you are interested in opening a STAR Ohio account or if you have any other questions, please don’t hesitate to call my office at (614) 466-2160.
My door is always open, and I’m always looking for new ideas on how to best serve Ohioans. As Treasurer, the financial health of Ohio’s local governments is very important to me. Thank you for your efforts to ensure our communities remain on solid fiscal footing.