Utah's $18,000,000,000 Public Secret
Did you know that the Utah State Treasurer runs what is effectively a $18,000,000,000 hedge fund for municipalities?
No? Most of us don't. Its not being kept a secret (more like a little discussed fact published on a website most people don't know exists) its very much out in the open. In fact, its right on the website of the Utah State Treasure office, https://treasurer.utah.gov/, under the Public Treasures' Investment Fund link. There you can learn about the fund, its investment, return (2.47% in 2019), and other little nuggets of info.
What can't be found?
You, and I, can't know any specifics on our local municipalities invested in the fund. It is very difficult to hold our local leaders accountable to how they use our sacred tax dollars without access to the knowledge of their performance.
You, and I, can't see current activity in the fund nor current performance. Sure, we can read a quarterly report, but its long past time to make it easy to access and transparent.
This is an easy opportunity for transparency and accountability.