A Message from the State Treasurer
July 1, 2008

The State of Idaho continues to be successful in its BidIdaho program, which made its debut in 2001. This program is so successful that it has been replicated, in one way or another, by many other states.

Our office has brought Idaho to the cutting edge of the financial world with BidIdaho. We have continued on this course to bring together premier results for the people of Idaho. By embracing these new technologies in an innovative way, we are offering the best of public finance.

As Idaho's State Treasurer, BidIdaho's creative approach to State CD funds meets my criteria for new programs:

1. First, BidIdaho is designed to enhance, simplify, and maximize the investment of our state's tax dollars. Instead of picking a rate based on market averages, we are starting the bid at the current 6-month Treasury Bill rate. The returns can only go up from there.
2. BidIdaho also makes the CD distribution process much more efficient and accurate. By utilizing Internet technology, we are cutting out the paperwork. There is only one step in making the process of funds switching hands operate - the bid online.
3. Finally, large and small Idaho financial institutions have an equal opportunity to acquire state funds. Each institution can semiannually evaluate the needs of its community and its borrowing public, and can place bids accordingly with BidIdaho. We have made it easier than ever for these banks to get what they need to help their customers.

I would like to thank Aaron Lewis, Diane O'Toole, and all the people at Grant Street Group for all of their help in making this program a success. Grant Street's hard work, in conjunction with my staff, mades the bid sessions go forward smoothly, and profitably.

Thank you for joining us.