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Iowa budget closes with full cash reserves, surplus of $1.24B
Tuesday, September 28, 2021DES MOINES – Gov. Kim Reynolds announced today that the State of Iowa will end Fiscal Year 2021 with a balance of $1,238.6 billion in its General Fund.
"Iowa is in a very strong financial position due to our fiscal responsibility,” said Gov. Reynolds. “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.
“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,” said Joel Anderson, interim director of the Iowa Department of Management.
FY 2021 closed on June 30th, but the accrual period officially ends on September 30th. During this time, Iowa closes the books and pays out and receives outstanding obligations. Last year’s budget surplus was $305 million dollars.