Worland Aquatic Center Endowment Funds to be Invested in new state program WyoStar2
Written by jordanmckamey on February 27, 2019
Washakie County School District #1 Business Manager Jack Stott informed school board trustees at Monday night’s meeting of a new investment as it relates to the Aquatic Center Endowment called WyoStar 2.
This is a state run run investment program that was approved by the Wyoming Legislature in 2016. The investment has a maturity rate of 1 to 3 years. The investment has on average a 4.3 percent return on investment — compared with just 2.6 percent in the current WyoStar 1 investment structure.
WyoStar 2 does come with risk — as with any investment — but over the longer maturity of the investment — the district expects better returns. Initially the district will invest between $250 and $400k in the account. The long term goal would be to have somewhere between 30 and 50 percent of the endowment funds invested in WyoStar 2. School Board Trustee member Duane Whitlock noted that currently financial analysts see an inverted curve to long term investment — favoring success for WyoStar 2 investors.
The motion was approved unanimously by the trustee members.