David McRae today announced the state has topped $100 million in interest earnings and portfolio asset gains since he took the helm as Mississippi Treasurer. More specifically, since McRae took office, interest earnings for the general fund and special funds grew $60 million, while assets in the MPACT portfolio grew by $40 million.
“Despite the fact that interest rates have been at a historic low since I entered office, we were able to incrementally grow our investments,” said Treasurer McRae. “Growth of any kind trickles down to taxpayers by strengthening the state’s financial standing. This, in turn, contributes to stronger credit ratings, more advantageous financing, and fewer financial burdens for taxpayers. In economic times like this, every little bit helps, and adding $100 million to the balance sheet is certainly more than just a little help.”
The Office of the State Treasurer manages the state’s cash flow and oversees your taxpayer dollars. As part of this responsibility, the Treasurer receives, protects, disburses, and invests the state’s funds. This includes managing the state’s interest-bearing bank accounts and investments.