CEDAR RAPIDS, Iowa (KCRG) - Iowa State Treasurer Roby Smith announced $469 Million has been gained through investing state funding last fiscal year, the most in Iowa history.

The investment comes from the state’s Pooled Money Fund, which combines allocated money from state agencies that hasn’t been spent yet, and invests it.

The state treasurer then invests the money into short-term investments like bonds. The interest is then shared back to the state agencies.

State Treasurer Roby Smith says those investments mean more money in Iowans pockets, and less taxes.

“What we do is we take that money, which is over $10 billion, and we invest that. And we got a record amount last year, in the history of Iowa it’s never been more. $469 million brought in last fiscal year, ” he said.

The fundin

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