June 24, 2024 -The State Treasurer’s Office reports that it has made a record $130.1 million in investment earnings from the state investment portfolio in May.
Treasurer Michael Frerichs says the office has earned more than $1.3 billion for the state portfolio in fiscal year 2024.
“Every dollar we earn in interest is a dollar that lawmakers don’t have to raise in taxes,” Frerichs said. “The State Treasurer’s Office cannot solve all of our problems, but we can be part of the solution.”
Also in May, nearly $90.9 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 the State Treasurer’s Office operates. So far in Fiscal Year 2024, the Office has earned more than $973.6 million for the Illinois Funds, which has received the highest rating of AAA from Fitch, a national credit ratings agency.
