UPDATED to include photo and link to full story.
State Treasurer Roby Smith says short term investing of unspent state funds has yielded a record one BILLION dollars for the State of Iowa since he took office in January of 2023. According to Radio Iowa, staff in the treasurer’s office and outside money managers are investing pooled money from the Iowa Veterans Fund and the Road Use Tax Fund where gas taxes are deposited and used to fix and build Iowa roads and bridges. Any investment earnings go back into those funds.
The four BILLION dollars in the Taxpayer Relief Fund where state budget surpluses have been funneled for the past 14 years is being invested separately. Smith says the average rate of return over the past couple of years has been four-point-four percent.
Story courtesy Radio Iowa. Full story here: https://www.radioiowa.com/2025/09/10/state-of-iowa-get-1-billion-since-2023-from-short-term-investing/
