The Treasurer's Short-Term Investment Fund (STIF) is a Standard & Poor's AAAm rated investment pool of high-quality, short term money market instruments managed by the Cash Management Division of the Office of the State Treasurer.
Created in 1972, STIF serves as an investment vehicle for the operating cash of the State Treasury, state agencies and authorities, municipalities, and other political subdivisions of the State.
The STIF rating, AAAm, is Standard & Poor's highest principal stability fund rating and "demonstrates extremely strong capacity to maintain principal stability and to limit exposure to principal losses due to a credit risk."
The investment objective of the Short-Term Investment Fund is to provide the greatest income while, first, ensuring the preservation and safety of principal, and, second, providing immediate liquidity to meet participants' daily cash flow requirements.
STIF lowers risk by investing in high quality, well-diversified securities with relatively short average maturities. In addition, STIF maintains a reserve of approximately one percent of fund assets to protect against losses.
As of June 30, 2015, the STIF unit administered 939 active STIF accounts
for 67 state agencies and authorities and 222 municipalities and local entities.
- 100 percent daily liquidity of investor deposits
- Online access to make deposits and withdrawals and view daily and
- Monthly, quarterly and annual reports
- Annual investor meetings
STIF Investor Programs
- Grant Express - allows municipalities to have certain grant payments from
the State of Connecticut deposited directly into their STIF accounts (Program
- Clean Water Fund (CWF) Express - allows municipalities to have CWF
payments automatically transferred from their STIF accounts to the CWF
trustee, U.S. Bank N.A. (Authorization
- Debt Service Express - allows municipalities to have debt service
payments automatically transferred from their STIF accounts to their
paying agent, U.S. Bank N.A. (Authorization