Treasurer Smith Announces $456 Million Earned for the State

DES MOINES, IA (07/24/2024) (readMedia)-- State Treasurer Roby Smith reports over $456 million in interest was earned on the Pooled Money Fund for the State's 2024 fiscal year, which runs from July to June. "Records were broken in fiscal year 2024 as we earned more for the State than ever before," said Smith. "Our goal is to earn high income while also preserving investment principal, and I'm proud to say we've accomplished that again this fiscal year."

As Treasurer, Smith is the State's banker and chief financial officer. One of his responsibilities includes investing all public funds not needed to meet current expenses in the Pooled Money Fund. The Fund is a combination of the State's General Fund, Road Use Tax Fund, two reserve funds and a number of smaller funds.

"The more money we earn means less comes out of Iowans' pockets," concluded Smith. "This is a win for all of us."

To learn more about Smith's responsibilities as Treasurer and the duties of his office, visit IowaTreasurer.gov. Stay informed on the office and his consumer programs by following IowaTreasurer on Instagram, Facebook and X.

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