October 24, 2008 Letter to STAR Ohio participants
from Ohio Treasurer Richard Cordray

September 18, 2008 Letter to STAR Ohio participants
from Ohio Treasurer Richard Cordray

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WHAT IS STAR OHIO?

• STAR Ohio is an acronym for the State Treasury Asset Reserve
• An investment tool with Standard & Poor’s highest rating, AAAm
• Free check-writing privileges
• No minimum investment required
• No required period of investment
• Yields calculated after expenses have been deducted
• Multiple accounts for segregation of specific funds
• Daily investments and withdrawals without penalty
• Interest on all investments, even if the investment is only for 24 hours
• A consolidated monthly statement that simplifies tracking of multiple short-term investments
• Access to account balance and yield information 24 hours a day through STAR Search, STAR Ohio’s automated voice response system.

THE PROGRAM

The State Treasury Asset Reserve of Ohio allows all Ohio governmental subdivisions to deposit their funds for investment purposes into a highly rated public investment pool offering safety, liquidity and generally higher yields. Since 1995 STAR Ohio has maintained Standard & Poor’s highest rating of AAAm, a testament to the soundness and security of the fund.

Any governmental subdivision can participate in STAR Ohio, including municipalities, school districts, special taxing and assessment districts, counties, charter municipalities and any other investment authority of a county, municipality or region. STAR Ohio offers a higher yield than conventional vehicles because of the increased earning power of a sizable pool.

The Ohio Treasurer acts as STAR Ohio's investment advisor and administrator. Carnegie Capital Management Co., Cleveland, acts as the fund's co-administrator. National City Bank, Cleveland, acts as the fund's transfer agent and custodian.

INVESTMENTS

STAR Ohio funds are invested in:

• U.S. government and agency securities;
• Collateralized repurchase agreements with eligible Ohio financial institutions.
• Eligible bankers acceptances and commercial paper.

INVESTOR BENEFITS

• Investors are offered 24-hour access to information on their accounts by using STAR Search, a toll-free access line.
• The fund permits daily deposits and withdrawals without penalty and pays interest on all deposits, even if the deposit is only for 24 hours;
• Investment yields are generally higher than local governments can attain through their intermittent investments of smaller amounts of money;
• Full-time portfolio management is provided by professional Ohio Treasury personnel;
• Cost of administering STAR Ohio is among the lowest in the country;
• State statutes under the Uniform Depository Act are strictly followed;

Click here to view STAR's daily rate.

INVESTOR DATA

On November 30, 2008, the fund's assets totaled $7,083,297,601 with 3,261 accounts. School districts are one of the primary users of STAR Ohio, with 1,077 accounts totalling approximately 37% of all STAR assets. State custodial funds, cities, counties, townships, villages, libraries and some public hospitals also invest in STAR Ohio.

Note: On July 20, 2001, STAR Ohio eclipsed the $10 billion mark in assets for the first time ever. STAR Ohio has grown more than 3.5 billion or almost 60% since 1/4/99.

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