State earns $375 million in interest income

July 16 – State Treasurer David McRae today announced that Mississippi earned nearly $375 million in interest during FY2024. 

As State Treasurer, McRae is responsible for managing the state’s cash flow, including Mississippi’s investment portfolio. This is one of Mississippi’s largest interest earnings on record.

“If Mississippians take one thing from today’s announcement, I hope it is this: When you turn your hard-earned dollars over to the state, we will strive to do as much as possible with each penny entrusted to our care,” said McRae. “The real-world implication of these earnings will be massive as well. In fact, a significant portion of the $375 million will go into the state’s general fund, directly lessening the burden on hardworking taxpayers.”