State Treasurer Roby Smith announced Tuesday that the state’s Pooled Money Fund has surpassed $1 billion in total earnings since he took office.

Smith, who became Iowa treasurer in January 2023, credited the achievement to the “strength and stability” of the 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,” Smith said in a statement. “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, managed by the Treasurer’s Office, invests short-term cash balances from state agencies, public u

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