Hunter
09/10/25
Iowa State Treasurer Roby Smith said that the state made more money than ever before by investing unspent monies from state agencies.
According to Smith, Iowa took in an additional $469 million with those monies, which come from the Pooled Money fund and totaled over $10 billion. The money was invested into short-term investments like bonds, and the profit is then shared back to the state.
Smith says the agencies that benefit from the windfall are less likely to request funding increases in the future.
The additional investment income could help make up for the nearly 19 percent drop in state tax revenue reported in July and August due to tax cuts passed by Republicans.