Arizona’s Local Government Investment Pool Surges To $7.6 Billion

Arizona’s Local Government Investment Pool Surges To $7.6 Billion

By Jonathan Eberle |

The Arizona State Treasurer’s Office announced a major financial milestone last week: the Local Government Investment Pool (LGIP) has reached a record $7.6 billion in total assets. According to State Treasurer Kimberly Yee, the fund has grown by $4.3 billion — a 131% increase — since she took office in 2019.

The announcement came during the July State Board of Investment meeting, where Treasurer Yee presented the latest performance report. The LGIP, a fixed-income investment pool managed by the Treasurer’s Office, serves as a centralized option for local governments — including cities, counties, towns, and special districts — to invest public funds with an emphasis on safety and competitive yields.

The report shows that assets under management are up 7.08% year-over-year, with June earnings totaling more than $27.4 million, a 3.18% increase compared to the same month last year.

“We are proud to provide responsible stewardship of public funds while ensuring liquidity, safety, and strong returns,” Treasurer Yee said at the meeting.

Yee’s career in public service spans more than a decade, including eight years in the Arizona Legislature, where she served as Senate Majority Leader. Since assuming leadership of the Treasurer’s Office, Yee has emphasized transparency, performance, and accessibility. Under her watch, the state has expanded participation in the LGIP, which provides local government entities a low-risk, professionally managed option for investing taxpayer dollars.

The Office operates four separate LGIP pools, each tailored to meet the liquidity and investment needs of its contributors. By pooling resources, smaller jurisdictions gain access to economies of scale and greater portfolio diversification.

Jonathan Eberle is a reporter for AZ Free News. You can send him news tips using this link.

Arizona Leaders Continue Legal Battle Against Biden Administration’s Land Grab

Arizona Leaders Continue Legal Battle Against Biden Administration’s Land Grab

By Matthew Holloway |

Arizona Senate President Warren Petersen, House Speaker Steve Montenegro, and State Treasure Kimberly Yee are continuing a legal battle against the administration of former President Joe Biden and his surrogate, Attorney General Kris Mayes to defeat what they say is an “unlawful, dictator-style land grab in northern Arizona.”

The lawsuit, currently before the U.S. Court of Appeals for the Ninth Circuit, centers around the confiscation of a massive tract of Arizona land in Coconino and Mohave Counties which bans “the productive use of almost 1 million acres in northern Arizona,” and “permanently entombs one of the nation’s largest and highest-grade uranium deposits,” in addition to forbidding any road or infrastructure development in “an area the size of Rhode Island,” according to a legal brief submitted Wednesday.

The Biden White House, via Presidential Proclamation launched this audacious expropriation of Arizona land in August 2023 under the color of the Antiquities Act, creating “the Ancestral Footprints Monument.” In February 2024, Petersen launched a lawsuit to stop him.

“Former President Joe Biden and his army of radical bureaucrats abused their constitutional authority on countless levels during his failed administration. Their infatuation with locking up federal lands from productive uses is a prime example of the harm inflicted on states like Arizona,” said Petersen. “As we have argued throughout this case, Biden’s maneuver had nothing to do with protecting actual artifacts. This was an attempt to halt all mining, ranching, and other local uses of federal lands that are critical to our energy independence from adversary foreign nations, our food supply, and the strength of our economy. Republicans in the Arizona Legislature will continue to fight these actions to free our state from the grasp radical environmentalists had over the previous administration. Thankfully, we now have President Donald J. Trump in office, who has a consistent track record of safeguarding state sovereignty and promoting common-sense uses of federal land. I am continuing to work with his administration in an effort to end this legal battle.”

As Petersen and his legal team point out to the court, the unlawful seizure by the Biden administration stood in direct violation of the 1909 Antiquities Act. It uses as a basis given that a president is only empowered to reserve “the smallest area compatible with the proper care and management of the objects to be protected.”

In a press release, the Republican group said the coalition assembled to oppose Biden’s act of illegal seizure asserts that Biden failed to follow the law, “and the guardrails Congress established to create a check on the president’s power were violated.”

Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.