Bismarck, ND – State Treasurer Kelly Schmidt announced today that the State Treasury currently has invested a record balance of $745 million.
Schmidt said, "The current balance is a reflection of the strong economic growth that North Dakota is currently experiencing. My role as treasurer is to take advantage of our state's strong fiscal position and leverage the dollars to their greatest capacity through effective cash management."
Certificate of Deposits purchased recently totaled $142 million dollars and were invested with terms of 100 to 130 days. These investments will generate more than $1.6 million in interest income for the State of North Dakota’s Treasury.
Interest to the general fund is in excess of $27 million this biennium which represents a 550% increase in interest income over last biennium.
"This is good news for the citizens of North Dakota," Schmidt said. "By effectively investing our general fund dollars, we strengthen our overall financial position and ensure that the state has the resources to provide needed services to its citizens," Schmidt added.
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