ARKANSAS (KFSM) -- Arkansas State Treasurer Dennis Milligan stopped by 5NEWS This Morning Wednesday (July 12) to discuss changes to state treasury, which would increase local governments' investment returns to bring more money to Arkansas communities.
A piece of legislation initiated by Milligan passed during the 91st General Assembly and will expand the investment opportunities of cities, counties, school districts and other state agencies.
Under Milligan’s lead, the State Treasury has produced some of the highest investment returns in nearly a decade.
“We’re making your tax dollars work harder,” Milligan said. “At the end of the day, the taxpayers are the ones benefiting from this.”
The Treasury has receipted back $39.4 million already in fiscal 2017, which ended on June 30. The overall total for fiscal 2016 was $48.9 million, and the Treasury anticipates similar, if not better for fiscal year 2017.
“We’ve been able to fill in critical budget gaps on the state level, and I’m very excited about the potential that this program has to help us make real, tangible, financial impacts in communities throughout Arkansas,” Milligan said.
The final step to finalize the updates to the State Treasury Money Management Trust is public approval under the requirements of the Arkansas Administrative Procedure Act.