SPRINGFIELD, Ill. (WAND) - The State Treasurer’s Office made nearly $124.6 million in investment earnings from the state investment portfolio in March, Illinois Treasurer Michael Frerichs announced Monday.
Another $91 million in gross investment earnings was earned for cities, villages, school districts, counties and other units of government that take part in the Illinois Funds local government investment pool operated by the State Treasurer’s Office.
“This earned income, rather than tax dollars, can be used to fix roads, repair bridges, purchase school supplies and invest in our local communities,” Frerichs said. “The State Treasurer’s Office cannot solve all of our problems, but we can be part of the solution.”
Key monthly metrics and more are available in The Vault, the transparency website that allows Illinois residents to see how the State Treasurer’s Office is working for them. The site is at iltreasurervault.com.
Investment earnings the State Treasurer’s Office made for March 2024:
*State portfolio. The Treasurer’s Office earned nearly $124.6 million in earnings for the state investment portfolio in March. So far in 2024, the Office has earned almost $375 million for the state portfolio.
State legislators budget public money that is collected, but that money is not spent all at once. State agencies, boards and commissions require assistance managing their cash and investing all remaining funds. That's where the Office of the Illinois Treasurer steps in.
The interest rate earned for the state investment portfolio was 4.65% for March.
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