"We believe that the Investment Trust (NPAIT) can legally perform its intended purposes and functions for exercise of governmental subdivisions’ authority to invest their funds."

Office of the Nebraska Attorney
General Opinion #96087
Dated December 18, 1996

What is a Cash Management Program?

The Nebraska Public Agency Investment Trust (NPAIT) is a collective effort by participating Nebraska eligible public bodies to jointly invest their temporary, surplus funds through a safe, efficient investment program. NPAIT is operated to maximize the following features:

• Safety of Invested Funds
  NPAIT invests in only the highest quality securities authorized for NPAIT participants, including U.S. Government and U.S. Agency securities and investments collateralized by those securities (Nebraska financial institution CDs, for instance).
  
• Maximum Current Income
  Collective investment allows NPAIT to purchase securities in larger denominations in a professionally managed portfolio of securities to provide the highest return currently available.
  
• Complete Daily Liquidity
  All funds invested in NPAIT may be withdrawn at any time to facilitate known and unanticipated disbursement needs. There also are no minimum or maximum investment amounts.
  
• Ease of Operation
  With one simple toll-free call, a participant can determine current NPAIT rates of interest, invest or withdraw funds. All fund movements are confirmed in writing in a simple, easy to read NPAIT account statement.

How Does NPAIT Maximize Income and Liquidity
and Maintain Safety?

By jointly investing on behalf of all participants, NPAIT can purchase securities
more efficiently, in marketable denominations that mature periodically within the
portfolio.

Continuous professional management of NPAIT’s investments ensures that portfolio
securities are always available to provide complete daily liquidity for all invested
funds. NPAIT follows established investment criteria developed by the Securities
and Exchange Commission (SEC) for money market funds designed to offer
enhanced yield while maintaining complete liquidity.

What Public Officials Say About NPAIT

"We are never more than a phone call away from personal assistance from someone we know. That is a valuable think in the modern banking world!"
— Tim Kemper, Lincoln Public Schools

"NPAIT provides a safe, efficient and quick availability of funds with a good rate of return. And we don't have to collateralize large deposits that we receive at tax time."
— Rich James, Sarpy County Treasurer

"Over the past 10 years we have had the opportunity to build a familiarity and trust with NPAIT. They have grown significantly over this time frame, which adds to our confidence as well."
— Joel Navis, General Manager, Seward County Public Power District

"NPAIT offers the City of Schuyler a safe investment option with a rate of return greater than local money market accounts."
— Mary Peschel, City of Schuyler

"Investing through NPAIT is a time saver because I don't have to shop around for short-term investments to maximize returns while trying to guess when the funds need to be available."
— Ann Rosenberry, Scotts Bluff County Clerk of the District Court