State Treasurer of Iowa

Treasurer Fitzgerald Reports $12 Million Earned for the State

July 21, 2022

Des Moines, Iowa – State Treasurer Michael Fitzgerald reports over $12 million in interest was earned on the Pooled Money Fund for the State’s 2022 fiscal year, which runs from July to June. “Even during tumultuous times, the State Treasurer’s Office continued to achieve our three objectives when it came to the State’s investments: safety, liquidity and yield,” said Fitzgerald. “We kept the money safe, which is our highest priority. Then, we were also able to earn some money for the State.”

As the State’s banker, Treasurer Fitzgerald invests the funds of State agencies together in a combined short-term investment pool, which is known as the Pooled Money Fund. Any funds not currently in use are invested to earn money for the State until they are needed for payments.

“The money we earn helps to fund programs in Iowa, thus improving our communities, and also lessens the need to collect from other sources,” explained Fitzgerald. “I will continue to serve Iowans by keeping the money safe and adding extra revenue to the State’s budget.”

To learn more about the State Treasurer’s Office and Fitzgerald’s responsibilities, visit IowaTreasurer.gov. Keep up-to-date with the office and his consumer programs on Facebook, Twitter and Instagram.

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