Our Responsibilities

Depository

The treasurer receives all revenues from state agencies and the federal government and is responsible for all consequent bank relations.

Investments

The treasurer is the investor and custodian of the state's general fund, the reserve funds, and the road use tax fund operating funds. These funds are pooled and invested together. The treasurer also invests money in the Judicial Retirement System and the Iowa Centennial Memorial Foundation.

In addition, the treasurer serves as trustee and custodian of the Iowa Public Employees' Retirement Fund and the Peace Officer's Retirement Fund.

Accounting

The treasurer accounts for funds on a cash basis and balances regularly with the Department of Administrative Services - State Accounting Enterprise. Also, the treasurer redeems all proper warrants of the State.

Financing

The treasurer coordinates state bonding activity the payment of state projects such as prisons and the Iowa Communication Network.

Great Iowa Treasure Hunt

Companies and banks in Iowa and across the nation report millions of dollars in unclaimed property to the state treasurer each year. Treasurer Fitzgerald created the GREAT IOWA TREASURE HUNT to locate owners of unclaimed funds.

Public Funds

Monthly, the treasurer meets with the superintendent of banking and the state auditor to set interest rates to be paid on public funds held in depositories. They also set guidelines and rates for the debt obligation of public bodies in Iowa.

Reporting

The treasurer prepares an annual report of bonded indebtedness of state and local governments in Iowa.

Linked Deposits

The treasurer provides below market financing for alternative crops and nontraditional livestock, for targeted small businesses, for the transfer of rural small businesses, for traditional livestock farmers and for value-added agriculture projects.

Boards & Committees

The treasurer serves on a number of state boards and authorities.

Save for America

In 1995, the treasurer became the first State Treasurer to sponsor the Save For America Program. This program is designed to teach elementary age children the importance of saving for their future.

College Savings Iowa

In 1998, College Savings Iowa was created to encourage people to save for the future educational expenses of young people. Participants enjoy tax breaks and competitive investment returns.

Unclaimed Property Reporting

Each year, companies across the country are required to review their records and determine whether they hold funds, securities, or other property that has fulfilled dormancy periods and is, therefore, considered unclaimed under the law. All unclaimed property owed to an Iowa resident or corporation must be reported directly to the state of Iowa.

Iowa Advisor 529 Plan

In 2006, the Iowa Advisor 529 Plan was created as an advisor sold 529 plan. Participants can work with their existing financial advisor and enjoy tax breaks.