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The West Virginia Legislature created the West Virginia Board of Treasury Investments in July 2005. This board was created to oversee and manage the state’s operating funds, also known as the Consolidated Fund. The Legislature declared that, “.. the Consolidated Fund should benefit from financial professionals dedicated to and focused on the sound administration, investment and management of the Fund,” and that, “.. the transfer of the Consolidated Fund to the West Virginia Board of Treasury Investments will allow for management of the fund within state government and will encourage better cash management of state moneys.” West Virginia State Code §12-6C-2 (a), (c).
The West Virginia Board of Treasury Investments was created from 3 fundamental investment principles which are safety, liquidity of assets, and rate of return. However, the paramount investment principal is safety because the funds under management belong to the citizens of West Virginia.
Safety is demonstrated through the organizational structure of the West Virginia Board of Treasury Investments. The Board consists of five members, as follows:
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