Report will be provided to legislators to help better inform budget decisions
JEFFERSON CITY –– On Friday, July 7, Missouri State Treasurer Eric Schmitt released the 2017 Fiscal Year End Fund Activity Report as part of an effort to increase transparency in state spending. The report includes information on all 500+ state funds, and will be provided to legislators to help better inform budgeting decisions.
“As Missouri’s Chief Financial Officer, there is nothing more important to me than protecting taxpayer dollars from fraud, waste and abuse,” Schmitt said. “Releasing this report and providing it to key decision makers will increase transparency and accountability when it comes to state spending.”
The report shows the State of Missouri currently holds $3.5 billion across all funds.
Noteworthy fund balances include: General Revenue Fund: $167,908,411.22; Budget Reserve Fund: $591,336,851.49; State Road Fund: $712,392,813.64.
The full report is available here: http://on.mo.gov/2tgO6b6
The State Treasurer’s Office determines the amount of state funds not needed for current operating expenses and invests those funds to supply the state with additional revenue. The average active investment portfolio size is $3.6 billion, which has resulted in $15.6 million worth of interest income earned during Schmitt’s first six months as Treasurer.