Wyo. Code R. 004-0004-1
Effective Date: 05/03/2018 to 01/18/2025
Rule Type: Superceded Rules & Regulations
Reference Number: 004.0004.1.05032018
The purpose of these rules is to set forth procedures to be followed by the State Treasurer for the operation of a short-term local investment pool, pursuant to the provisions of Wyoming Statute 9-1-416.
The State Treasurer, pursuant to W.S. 9-1-416, adopts the following rules for the operation of a short-term local investment pool.
(a) 'Designated Time' means the time before which each Participant must provide notice of a Transaction in order for that Transaction to be posted the following day.
(b) 'Electronic Transfer' is a wire transfer or an Automated Clearing House transfer.
(c) 'Pool Administrator' is the Wyoming State Treasurer.
(d) 'Pool Participant' or 'Participant' shall be any county, municipality, school district, or any other local governmental entity.
(e) 'Short-Term Investment Pool' or 'Pool' is a common fund with short-term redemption options maintained by the Pool Administrator consisting of deposits from Participants.
(f) 'Transaction' is a deposit or a withdrawal.
(g) 'Undivided Interest' is a proportionate share of all assets of the Pool taken together as a whole and not separated out into parts.
(a) The Pool shall have separated accounts maintained for each Pool Participant, but all monies will be co-mingled for investment purposes.
(b) All Participants shall have an undivided interest in the Pool. No Participant shall have a claim on any specific asset of the Pool but shall have an undivided interest based on the proportion of that Participant's cash balance as a percentage of the total cash balance of the Pool.
(c) No separate investments shall be made for any Participant.
(d) Separate accounts shall be maintained for each Participant.
(e) Participant funds shall only be invested in the Pool and will not be co-mingled with State funds or any other pooled funds.
(a) All income earned by the Pool-minus Fees as provided in Section 11 of these Rules will be distributed to Participants.
(b) Income will be calculated on each Participant's average daily cash balance in the Pool.
(c) Interest will be calculated and credited to the principal of each account by the fifteenth day of the following month. Each Participant will have the benefit of daily compounding of interest regardless of the date in which Participant's account balance is adjusted and reported.
(a) The Pool Administrator may set a minimum and maximum transaction size for deposit to or withdrawal from the Pool-based on the total Pool size and other situational conditions and shall notify all Participants of any set minimum or maximum transaction size.
(a) All deposits may be made by check, warrant, or Electronic Transfer, but third-party checks will not be accepted.
(i) Deposits are credited to the Participant after receipt by the Pool Administrator and on the day funds are available for investment.
(ii) Withdrawals made by Electronic Transfer will be available on the effective date of the transfer.
(b) All costs of Electronic Transfers shall be borne by the Participant.
(c) For Electronic Transfers, each Participant shall provide complete instructions for withdrawals and deposits. Upon request, the Pool Administrator shall supply to the Participant complete Electronic Transfer instructions for deposits to the Pool.
(d) The Pool Administrator shall set the Designated Time which shall be applicable to all Participants and notify each Participant in writing of the Designated Time.
(a) Pool Participants shall provide notice of any deposit or withdrawal to the Pool Administrator prior to the Designated Time. Notices shall be made in writing.