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YELLOW SHEET Office of the State Auditor of Missouri |
March 22, 2001
Report No. 2001-22
The following report is
our review of the Missouri Investment Trust.
The Missouri Investment Trust was established by state
law to allow the state to invest specific funds for long-term investment and
growth.� Subject to a valid, binding
trust agreement, the trust receives funds specifically approved and designated
by the General Assembly.
The responsibility for the proper administration of the
trust and the direction of its policies is vested in a seven-member Board of
Trustees.� The board consists of the
State Treasurer, the Commissioner of Administration, one member appointed by
the Speaker of the House, one member appointed by the President Pro-tem of the
Senate, and three members to be selected by the Governor, with the advice and
consent of the Senate.
The Missouri Investment Trust accepts deposits from
various state funds after specific legislative approval.� As of December 31, 2000, the Missouri
Investment Trust had received deposits from the Wolfner Library Trust Fund,
Missouri Arts Council Trust Fund, Missouri Humanities Council Trust Fund, and
the Pansey Johnson-Travis Memorial State Gardens Trust Fund totaling $400,000;
$16,000,000; $850,000; and $815,000, respectively.� The trust�s only investments at December 31, 2000 and 1999, were
deposits in an external investment consultant�s investment pools.
We had no findings on the Missouri Investment Trust.
