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.

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