75-4234. Pooled money investment portfolio; administrative fee; exceptions. (a) Except as provided in subsection (c) and in subsection (f), all moneys in the state treasury shall be invested as a single portfolio which is hereby designated as the pooled money investment portfolio. The portfolio shall be invested in accordance with article 42 of chapter 75 of the Kansas Statutes Annotated, and amendments thereto. The director of investments shall compute daily the earnings of the portfolio, including realized gains and losses. The pooled money investment board by written policy may provide for allocation of unrealized gains or losses. The director of investments shall calculate on a daily basis and shall deduct from earnings an administrative fee which shall be set by the board and applied as a fixed percentage of moneys in the pooled money investment portfolio. The administrative fee shall not exceed .25% annually on moneys deposited in the municipal investment pool and .10% annually on other moneys in the pooled money investment portfolio. The director of investments shall deposit the administrative fee in accordance with K.S.A. 75-4235, and amendments thereto. The gross earnings, after deduction of the administrative fee, shall be designated as the net earnings of the pooled money investment portfolio.
(b) The pooled money investment board may contract for the services of an external investment advisor to provide advisory services concerning the investment policies and practices of the pooled money investment portfolio. Such investment advisor shall not be the person or firm contracted with under K.S.A. 75-4264, and amendments thereto.
(c) Moneys in the employment security fund established by K.S.A. 44-712, and amendments thereto, shall not be invested in the pooled money investment portfolio except as may be authorized by the secretary of labor pursuant to subsection (e) of K.S.A. 44-712, and amendments thereto.
(d) For moneys in funds designated in this subsection that are in the pooled money investment portfolio and which are not invested in the municipal investment pool, interest is to be paid on such moneys based on the average daily balance in the fund for each month and the net earnings rate of the pooled money investment portfolio for such month. This subsection shall apply to the state highway fund and funds for bonds and other debt instruments of state agencies and authorities.
(e) Moneys in funds designated in this subsection shall not be invested in investment options of the municipal investment pool fund for which the minimum term of such investment is less than 21 days. This subsection shall apply to state moneys, other than moneys of municipalities as described in subsection (a) of K.S.A. 12-1675, and amendments thereto.
(f) The amount of state moneys certified by the state treasurer as equivalent to the aggregate net amount received for unclaimed property under K.S.A. 75-2263, and amendments thereto, shall be managed and invested as provided in K.S.A. 75-2263, and amendments thereto.
History: L. 1996, ch. 254, § 1; L. 1998, ch. 161, § 5; L. 2000, ch. 110, § 3; L. 2004, ch. 179, § 118; July 1.
Structure Kansas Statutes
Chapter 75 - State Departments; Public Officers And Employees
75-4204 Transfers of state moneys.
75-4205 Operating accounts; designation of banks.
75-4208 Designation of banks to receive state accounts; procedure; award of accounts.
75-4210 Calculation of investment rate.
75-4210a Interest credited to general fund; exceptions.
75-4215 Remittance of state moneys; fee agency accounts; reports; post audit.
75-4216 Disposition and accounting of fees.
75-4217 Agreement for accounts.
75-4218a Security of time deposits under certain statutes.
75-4219 Care and handling of security.
75-4220 Liability of depository banks and affiliates; sale of security.
75-4221 Inadequate security pledged by depository bank; procedures.
75-4223 Banks claiming tax exemptions.
75-4226 Interest requirements not to be in violation of federal law.
75-4228 Criminal and civil liability of treasurer and director of accounts and reports.
75-4229 Criminal liability of board members.
75-4232 Investment policies; director of investments to invest state moneys; rules and regulations.
75-4233 Application of 1992 act.
75-4234 Pooled money investment portfolio; administrative fee; exceptions.
75-4235 Pooled money investment portfolio fee fund; disposition of funds.
75-4236 Director of investments to invest or reinvest moneys of the state or municipality.
75-4237 Investment accounts; procedure; market rate; exceptions; reciprocal deposit programs.
75-4252 Same; investment of "currently surplus reserve funds" or "surplus reserves."
75-4253 Same; investment of surplus proceeds or reserves.
75-4254 Bonds of state agency or authority; investments authorized.
75-4255 Same; custody of moneys; interest or income from investments.
75-4256 State moneys, investments and funds subject to post audit.
75-4261 Federal revenue sharing fund abolished; transfer of assets and liabilities.
75-4268 Kansas agricultural production loan deposit program.
75-4270 Same; state treasurer administrator of program; purpose; annual report.
75-4272 Same; procedures; agreement.
75-4274 Same; state and state treasurer not liable to lending institution.
75-4275 Prohibition on use of funds from deposit to qualify for state tax credits.
75-4276 Kansas housing loan deposit program.
75-4278 Same; state treasurer administrator of program; purpose; annual report.
75-4280 Same; procedures; agreement.
75-4282 Same; state and state treasurer not liable to lending institution.
75-4283 Kansas extraordinary utility costs loan deposit program; citation.
75-4287 Same; procedures of state treasurer; agreement requirements.
75-4288 Same; funding of loans; rate of loans.
75-4289 Same; state and state treasurer not liable to lending institution.
75-4290 Kansas economic recovery loan deposit program; citation.
75-4293 Same; economic recovery loan deposit loan packages; participation in program; requirements.
75-4294 Same; procedures of state treasurer; agreement requirements.
75-4295 Same; funding of loans; rate of loans.
75-4296 Same; state and state treasurer not liable to lending institution.
75-4297 City utility low-interest loan program; citation.
75-42,100 Same; loan applications; participation in program; requirements.
75-42,102 Same; program controls over conflicting provisions; loans not bonded indebtedness.