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Endorsement of National Association of State Treasurers' Statement in Favor of Full Disclosure

On December 4, 1989, members of the National Association of State Treasurers (NAST) adopted a Statement in Favor of Full Disclosure for state-operated local government investment pools. The Government Finance Officers Association (GFOA) endorses the NAST statement. In addition, GFOA encourages NAST to continue working with its members to implement these disclosure policies within state-operated pools as soon as practical.

NAST and GFOA recognize that potential pool participants have several alternative investment vehicles from which to choose. The goal of a disclosure statement is to ensure that local government investment officials, when choosing among their available investment options, are fully aware of significant investment and administrative policies, practices, and restrictions of the pool and thereby are able to make informed investment decisions on behalf of their local governments.

The GFOA urges further that that the NAST Statement in Favor of Full Disclosure be adopted and implemented by all local government investment pools. The GFOA will work further in this area and invites the continued participation and support of the National Association of State Treasurers.

Adopted: May 1, 1990