Iowa State Treasurer Roby Smith announced record earnings through the Iowa Pooled Money Fund.
The Pooled Money Fund is a short-term investment strategy for the state government. Money is invested for state agencies, universities and local governments. The earnings are reinvested into public services to support essential operations without any additional funds from taxpayers.
There are guardrails set up to keep the investments in low-risk accounts. In fiscal year 2025, the fund has earned $469 million.
Smith hopes to reach $500 million during the next fiscal year, which started on July 1 of this year.
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