The State Treasury earned nearly $100 million in the first six months of fiscal year 2023, Treasurer Dennis Milligan announced today in his final investment report of his tenure. Milligan takes office on Tuesday as Auditor of State.
“We earned $99.7 million from July 1 through December 31, 2022, and are on pace to exceed the highest fiscal year recorded in State Treasury history,” Milligan said.
“The highest investment receipts recorded, dating back to 2005 which is as far back as Treasury records go, was $116.9 million in fiscal 2019.”
The total earned under Milligan’s administration to date is $603.7 million. He credits increasing interest rates and a highly-focused investment team for the record high receipts.
“My investment team watches the fixed income market consistently and is able to make calculated decisions with regard to bond quality and duration,” Milligan said.
“Their expertise and my active management style has earned the state the highest investment receipts it’s ever seen. I’m immensely proud of the work we’ve been able to accomplish during my tenure as Treasurer and grateful to have served Arkansans in this role.”