One billion in interest earned by Mississippi

July 7, 2025 – State Treasurer David McRae reported that Mississippi has earned a record-breaking $1 billion in interest income from the General Fund and Special Funds since he took office in 2020. Approximately $450 million of that has been directly deposited to the State General Fund.

“Every dollar the state government holds should be working as hard as the Mississippians who earned it. That’s been my mission from the start,” said McRae. “By applying conservative, results-driven financial management, I’ve delivered over $1 billion in interest income off money that would have otherwise sat largely idle. That’s not just a number on a balance sheet. It’s hundreds of millions of dollars that have gone straight back to the State’s General Fund to support our schools, strengthen infrastructure, and reduce the need for future tax increases. This is what responsible government looks like.”

On average, McRae has returned $187 million per year during his tenure beginning in January 2020 (FY 2020-25). This compares to an average of just $39 million for the five years prior to McRae assuming office (FY2015-19).