POOLED MONEY INVESTMENT BOARD - 7350

The Pooled Money Investment Board (PMIB), created by the Legislature in 1955, is comprised of the State Treasurer as chairperson, the State Controller, and the Director of Finance. The purpose of the PMIB is to design and administer an effective cash management and investment program, called the Pooled Money Investment Account (PMIA). The PMIB does the following:

• Governs the PMIA.
• Designs an effective program to invest taxpayers’ money to manage the state’s cash flow and strengthen the financial security of local governmental entities.
• Designates the amount of money temporarily available for investment.