Iowa closes its budget for fiscal year 2020 with a surplus. | Pixabay
Iowa closes its budget for fiscal year 2020 with a surplus. | Pixabay
Iowa will close its budget for fiscal year 2020 with a surplus of $305.5 million.
The general fund balance exceeds last year’s surplus amount of $289 million, according to the Office of Gov. Kim Reynolds’ website.
“Fiscal responsibility has put the state of Iowa in a strong position despite some significant challenges ranging from a global pandemic to trade disruption,” Reynolds said in a post on her website. “In Iowa, we have turned those obstacles into opportunities, making significant investments in education, agriculture, workforce, technology and health care. The actions we have taken this year will help Iowa emerge from this unprecedented pandemic stronger than ever before.”
Reynolds’ website states that while the fiscal year closed on June 30 the accrual period didn’t end until Sept. 30. Iowa will monitor the impact the coronavirus will have on the state budget for the upcoming fiscal year.
“Going forward, we will continue to invest responsibly in Iowans’ priorities and remain mindful of the potential challenges that still lie ahead,” Reynolds said on her website.
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