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52 The Authority │ February emerge -- areas where satisfaction is consistently weak, or where demand for new features like mobile access or enhanced analytics steadily grows. That type of data greatly improves our strategic roadmap. It helps identify which innovations will yield the greatest gains in stakeholder value, and assist in setting priorities around staffing, technology investment, policy changes, and communications. Strengthening Credibility with Stakeholders and Oversight PLGIT has a responsibility to satisfy not only its investors but also its external stakeholders: elected officials, our board, auditors, rating agencies, and the public. The active solicitation of, and response to, investor feedback enhances PLGIT’s credibility. In addition, the GFOA endorses the National Association of State Treasurers (NAST) Guidelines for LGIPs, encouraging pools to adopt strong disclosure and governance practices such as the clear disclosure of investment and administrative policies 2 . By demonstrating PLGIT’s responsiveness, we strengthen our standing in the eyes of peer reviewers, oversight bodies, and the public. Four Key “Asks” for the PLGIT Survey – and What We Learned Listening to our stakeholders is an important part of what we do, and a critical guide to how we do it. That’s why, in the 4th quarter of 2024, we surveyed our investors to ask what you saw as PLGIT’s biggest assets, as well as how you felt about our performance. Here are a few examples of what we asked - and what we learned: • Investment Objectives & Risk Tolerance: We asked investors to rank or weigh their priorities (safety, liquidity, yield, flexibility). Understanding shifting preferences allows us to balance our portfolio strategy to best meet investor expectations. Of the 262 responses we received from this survey, more than 140 respondents told us that yield was either the highest or second highest priority of all of PLGIT’s services. It was also the highest level of satisfaction among respondents. Safety was the second overall highest priority and area of satisfaction, and Reporting was the third highest rated area of satisfaction. • Communication & Reporting Clarity: We asked for feedback on how clear, accessible, timely, and useful investors found reports, disclosures, dashboards, and commentaries. This ensures that technical information is presented in a “reader-friendly” fashion. The responses we received showed that investors are largely pleased with the availability of information and records through Connect, as well as the efforts to fine tune the portals functionality and interface. • Operational Responsiveness & Service Quality: We measured satisfaction with customer support, responsiveness of staff, timeliness of transactions (deposits/withdrawals), and overall service reliability. Respondents had some important suggestions as to what they would like to see in terms of transactions, but ranked overall Convenience and Service Quality as the third highest satisfaction element of the pool. (tied with their satisfaction with reporting.) • Technology & Digital Experience: We gauged user satisfaction with data export features, real-time monitoring, Connect, and integration with our investors’ internal systems. As mentioned above, respondents were satisfied with how Connect continues to evolve – most notably, we learned that our investors were pleased with the ease of information and data accessibility. It would be a mistake to view regular surveys of investor- participants as “extras.” They are critical infrastructure for a modern, well-governed LGIP. Such feedback mechanisms reinforce transparency, align the pool with evolving investor needs, identify risks early, and stabilize external credibility. By pairing robust survey processes with established practices (such as GFOA-endorsed reporting standards and governance frameworks), PLGIT will continue to evolve more dynamic, stakeholder-centered products and services -- better equipped to serve local governments faithfully and flexibly for years to come. S 2 Endorsement of National Association of State Treasurers’ Guidelines for Local Government Investment Pools. GFOA arket-to-Market Reporting for Public Investment Portfolios. GFOA. Listening article continued from page 36.