Report Highlights State Investments, Cash Flow, Credit Rating

BATON ROUGE, LA – Earnings on state investments totaled an impressive $244 million this past fiscal year, and these and other statistics are highlighted in the State Treasury’s annual report available online at

The state experienced some good returns on its investments, and were starting to see the market stabilize, said Treasurer Kennedy. Stock and bond prices were up, and the market has been in a year-long recovery, so both helped our investments perform well this fiscal year.

Some highlights for FY 2003:

  • Treasury’s General Fund investment portfolios cumulative income reached the $3 billion mark.
  • The state’s major trust funds earned $121 million, and the Louisiana Education Quality Trust Fund had a rate of return of 12.1 percent. The Millennium Trust Fund yielded 4.09 percent, and the Medicaid Trust Fund had a yield of 4.94 percent.
  • The Rainy Day Fund totaled $191.1 million.
  • START, the state’s 529 college savings plan, closed the calendar year with a 5.33 percent rate of return, $37.5 million in total assets, $36.4 million in total contributions and 11,545 active accounts.
  • Three national rating agencies Fitch, Moody’s and Standard and Poor’s upgraded the state’s credit rating.
  • Treasury collected $27.6 million in unclaimed property from Louisiana businesses and refunded a record $12.9 million to Louisiana citizens.
  • Treasury managed 14 General Obligation debt issues totaling $299 million.
  • The Louisiana Asset Management Pool closed the year with 493 participants and $1.26 billion in total investments.
  • Treasury bid out $100 million in certificates of deposit to Louisiana banks online as a way to increase economic development statewide.

For more information, or to download a copy of the Treasury’s FY 2003 annual report, visit, click on News Room and Treasury Document Library.

Sarah Mulhearn
(225) 342-0012