Iowa budget closes with higher-than-expected revenue, $127 million surplus

State of Iowa Seal

(DES MOINES) – Gov. Kim Reynolds announced Tuesday the State of Iowa will end Fiscal Year 2018 with an estimated balance of $127.3 million in its general fund. That’s $95.6 million more than what the Revenue Estimating Conference predicted in March.

“We are striving to be fiscally responsible with your tax dollars, and I am proud to announce Iowa will end the fiscal year with a $127 million surplus,” Gov. Reynolds said. “Our economy is growing, incomes are rising and our state’s budget is a reflection of that. But I’m never satisfied. I’m going to continue to push for policies that grow our economy, invest in education and affordable health care and maintain Iowa’s status as the #1 state in the country.”