Iowa has cash in its coffers. | File photo
Iowa has cash in its coffers. | File photo
The pandemic has brought economic peril to many states around the country, but not Iowa. Gov. Kim Reynolds announced the state will end fiscal year 2021 with $1.238 billion remaining in its general fund.
"Iowa is in a very strong financial position due to our fiscal responsibility,” Reynolds said in a statement released by her office. “This surplus proves we accomplished exactly what we set out to do — overcome the financial challenges caused by the global pandemic and invest in education, workforce, healthcare, agriculture and technology. We will continue to invest in these important priorities going forward to meet the needs of our citizens and state."
The fiscal year closed June 30, but the accrual period officially ends on Sept. 30. The fiscal year for 2020 ended with a budget surplus of $305 million.
“I commend the dedication of Governor Reynolds on recognizing the importance and need for a healthy and strong balanced budget for the state of Iowa,” Joel Anderson, interim director of the Iowa Department of Management, said in the statement.
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