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GrowNOW is a program provided by the State Treasurer's office for small business owners. Small businesses that can commit to creating or retaining jobs in Ohio can receive a two-year, 3% interest rate reduction on new or existing loans.

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Treasurer’s Office Receives Third “Clean” Annual Audit in Three Years
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9/8/2011

Treasurer’s Local Government Investment Fund, STAR Ohio, Receives Highest Rating from Standard & Poor’s

Ohio Receives Top Credit Rating Amidst U.S. Downgrade and Uncertainty   

COLUMBUS – Ohio Treasurer Josh Mandel announced today that the State Treasury Asset Reserve of Ohio (STAR Ohio) investment fund, which the Treasurer invests on behalf of school districts and local governments, has received the highest possible rating, AAAm, from Standard & Poor’s rating agency.


“The STAR Ohio investment fund is one of the most trusted and stable public investment pools in the country.  Even amidst global economic uncertainty and a historic downgrade of the U.S. credit rating, Ohio has maintained and improved our top credit ratings due to conservative management of taxpayer dollars,” said Treasurer Mandel.  “Our investment strategy focuses first on security and liquidity, while ensuring that local government subdivisions can pool together to generate positive returns on taxpayer dollars.   STAR Ohio’s AAAm rating by Standard & Poor’s proves that the investments of Ohio school districts and local governments remain safe and secure in this top-rated fund.”


How STAR Ohio Compares to Other Local Government Investment Funds
STAR Ohio is the seventh largest local government investment pool in the nation based on assets held.  STAR Ohio’s receipt of Standard & Poor’s top AAAm rating is in contrast to many other local government investment pools that have received downgrades this year.  S&P recently reported that of the 90 local government investment pools it currently rates, 14 were downgraded in August. Those 14 investment pool sponsors included:


Georgia Office of the State Treasurer, Extended Asset Pool 
Illinois Metropolitan, 1-3 Year Investment Fund 
Broward County, FL, Investment Portfolio
Hillsborough County,  FL, Investment Pool 
Manatee County, FL, Investment Portfolio 
Palm Beach County, FL, Investment Portfolio
San Bernardino County, CA, Investment Pool
San Mateo County, CA, Treasurer’s Office Investment Portfolio
Santa Barbara County, CA, Treasurer’s Investment Pool
Solano County, CA, Treasurer’s Investment Pool
St. Lucie County, FL, Investment Portfolio 
City of Anaheim, CA, Treasurer Investment Pool
City of Houston, TX, General Investment Pool 
City of Los Angeles, CA, Office of the Treasurer, General Pool
                        
In addition, last month as the U.S. Credit rating was downgraded, Ohio was upgraded by S&P to AA+ stable from AA+ negative.  This is in contrast to states like Nevada and New Jersey that were downgraded by S&P in 2011.  It also contrasts what happened in Florida in recent years, when the state sought higher yields through risky and legally questionable investments that potentially cost taxpayers hundreds of millions of dollars after the collapse of housing and financial markets in 2008.


STAR Ohio Overview  
STAR Ohio allows government subdivisions—from municipalities to school districts—to invest funds in a highly rated public investment pool.  On August 31, 2011, the STAR Ohio investment fund's assets totaled $4,120,545,315.45 with 2,786 accounts. School districts are one of the primary users of STAR Ohio, with 963 accounts totaling approximately 36% of all STAR Ohio assets. State custodial funds, cities, counties, townships, villages, libraries and some public hospitals also invest in STAR Ohio.


Click here to view PDF for additional resources on the S&P rating, and the situation in other states.
 
For more information, please visit: www.OhioTreasurer.gov.

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Office Of Debt Mgmt

The Office of Debt Management plays an important role in the operation of state government: it oversees the borrowing of funds to assure it is completed in an efficient manner.
    

SaveNOW

SaveNOW, a program offered by the State Treasurer through our linked deposit authority, offers a 3% bonus interest on savings accounts for Ohio citizens.
    

Smart Money Choices

A free personal financial-planning conference series for all Ohioans presented by State Treasurer Josh Mandel, and supported by a variety of statewide and regional partners.
    

Top-Bottom Review 2011

Review Outlines Steps to Improve Operations, Safeguard Investments, Leverage Technology, Increase Transparency and Modernize Banking Practices
    

e-Funds Transfer

Electronic Funds Transfers makes tax payments easy. Entities that have received a notice from the Ohio Department of Taxation can register for electronic payment via the website.
    

Veteran's Preference

Veteran’s Preference provides veterans with priority to be accepted into the GrowNOW and Ag-LINK linked-deposit programs.
    

GrowNOW

A partnership between eligible banks and the Ohio Treasury, enables small business owners to receive a 3% interest rate reduction on small business loans for two years with the opportunity for renewal
    

Renew & Rebuild Ohio

Small business owners, farmers and homeowners are eligible to receive financial assistance to rebuild and recover following an emergency.
    

Ag-LINK

A program for farms to receive an interest rate reduction on new or existing loans or lines of credit up to $150,000. Applications are accepted on an annual basis from January through March.
    

CPIM

The Center for Public Investment Management (CPIM) provides continuing education to Ohio’s public funds managers and their oversight authorities.
    

CPIM Conference: Bowling

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Akron

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Dayton

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

CPIM Columbus

The CPIM (Center for Public Funds Managers) Academy allows public funds managers to increase their financial competencies in managing and safeguarding Ohio’s tax dollars.
    

ECO-Link

A partnership between the State Treasurer and participating banks that provides a 3% interest rate reduction for 5 or 7 years on bank loans when completing energy-efficient upgrades to your home.