Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE74. PUBLIC FINANCE |
PART740. ILLINOIS PUBLIC TREASURERS' INVESTMENT POOL FOR PUBLIC TREASURERS IN THE STATE OF ILLINOIS |
SUBPARTC. ADMINISTRATION |
§740.300. Treasurer Responsibilities
-
The Treasurer is responsible for overseeing the management of IPTIP and will perform the following:
a) review the eligibility of public agencies prior to enrollment;
b) establish enrollment, quality control and maintenance requirements and processes;
c) establish terms and conditions;
d) establish customer service processes;
e) determine the administrative fees paid from earnings of IPTIP in accordance with Section 330;
f) notify all participants of any increase in the administrative fee above 5 basis points, in accordance with Section 330;
g) provide investment management services through the use of authorized securities to achieve investment returns for the participants;
h) procure any necessary custodial, investment, or banking services administered through IPTIP;
i) retain documents in compliance with State statutes, including the State Records Act [5 ILCS 160], the State Records Commission administrative rules (44 Ill. Adm. Code 4400) and the Treasurer's Application for Authority to Dispose of State Records (Application 98-02M), approved by the State Records Commission;
j) provide administrative accounting; and
k) other tasks necessary to administer IPTIP.