Treasurer Smith Announces Pooled Money Fund Surpasses $1 Billion in Earnings Since 2023:
Sets record with more than $469 million earned in FY 2025
State Treasurer Roby Smith announced a major financial milestone for his tenure: the Iowa Pooled Money Fund has surpassed $1 billion in total earnings since his swearing in as Iowa’s 26th State Treasurer. This demonstrates the strength and stability of the Treasurer’s investment strategy for Iowa’s short-term cash balances.
“Crossing the $1 billion earnings mark is a testament to the prudent fiscal management and investment practices we’ve implemented under my leadership,” said Treasurer Smith. “This milestone reflects not only strong market performance, but also our commitment to safeguarding taxpayer dollars while maximizing returns for public services across the state.”
The Pooled Money Fund is a state-run investment fund managed by the State Treasurer, which oversees short-term cash balances for state agencies and other government entities. The primary goal of this account is to provide safety, liquidity and competitive returns on Iowa’s public funds.
The Pooled Money Fund provides a reliable and efficient investment vehicle for Iowa’s public funds. Earnings generated by the Pooled Money Fund are reinvested into the state and local governments, supporting essential operations and services without requiring any additional taxpayer funding. In FY2025, Iowa’s average daily pool balance was just over $10.7 billion and earned a total of $469,909,022 in income for the state.
FY2025 also set a new record for investment income earned in the history of Iowa’s Pooled Money Fund, breaking Treasurer Smith’s previous record of $456 million, set in FY2024.
“We are proud of the role the Pooled Money Fund plays in supporting Iowa’s financial resilience,” the Treasurer added. “Reaching this billion-dollar benchmark affirms the long-term value of disciplined, transparent investment management.”
For more information on the Pooled Money Fund, visit https://www.iowatreasurer.gov/for-citizens/state-investments.
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