11 Feb 2015

Outstanding Debt Obligations Increase a Modest 1.7%

By Karen Austin

Lowest annual percentage increase since the turn of the century

DES MOINES, IA (02/09/2015)(readMedia)-- State Treasurer Michael L. Fitzgerald reports that outstanding debt obligations for state and local governments in Iowa totaled just over $15 billion as of June 30, 2014. Overall, this represents an increase of 1.7% over last year. All political subdivisions, instrumentalities and agencies of the state are required to disclose outstanding long-term obligations, including bonds, notes, capital leases and loans, annually to the state treasurer. "While debt nearly doubled in the last decade, this is the lowest annual percentage increase reported since the turn of the century," Fitzgerald explained. "We see the greatest increases in debt issued by education-related entities such as schools, the Board of Regents and community colleges."

Education-related debt comprises over 38% of the total debt (public schools 23%, Board of Regents 11% and community colleges 4%). Debt issued by schools increased 8.49%, Board of Regents 7.11% and community colleges 6.86% over last year. A majority of the $5.8 billion debt incurred by school districts and AEAs is for construction or renovation projects. "In some areas, we see new schools being built, while in other areas we see old infrastructure being improved," Fitzgerald stated. "The fact that communities come together to better their schools is a reflection of the importance of education in Iowa."

Cities report 35% of all outstanding debt, with five cities (Des Moines, Cedar Rapids, Coralville, Sioux City and Davenport) holding over 30% of the $5.3 billion reported.

Iowa counties report $859 million in debt with Polk County reporting nearly 30% of the total. Other entities with outstanding debt issues include state authorities with $2.1 billion and state agencies with $924 million. Counties, state authorities and agencies all decreased their debt in the last year.

"While the overall debt increase in Iowa is moderate, we make this information available to all Iowans by county so they can see the total debt and changes over the years in their own communities," Fitzgerald stated. Visit the state treasurer's office at iowatreasurer.gov and click 'Outstanding Obligation Report' under the 'For Governments' tab to view the report and additional information by a specific reporting entity.

06 Feb 2015

Treasurer Fitzgerald has Treasures for Valentine's Day

By Karen Austin

DES MOINES, IA (02/05/2015)(readMedia)-- Valentine's Day inspires a day of card and gift giving to those we love. Throughout the years, those cards and keepsake mementos sometimes become lost treasures. State Treasurer Michael L. Fitzgerald wants to reunite Iowans this Valentine's Day with those lost treasures. "In addition to money, we have safe deposit box contents, which include an assortment of valuable items waiting to be reclaimed," said Fitzgerald. "Some of these items may have been gifts from a past Valentine's Day."

Treasurer Fitzgerald encourages all Iowans to check the website for a forgotten treasure. "Check regularly and check often," Fitzgerald advises. New property is uploaded throughout the year, so even if you have claimed property in the past, there is a chance your name could reappear. "Our goal is to keep reminding people to check their names for any unclaimed property."

The Great Iowa Treasure Hunt database contains more than one million accounts for individuals that have lost track of some money or a treasure. The program has returned over $188 million to more than 452,000 individuals since Fitzgerald started it in 1983. Companies and financial institutions in Iowa and from across the nation report millions of dollars in unclaimed property to the state treasurer each year. Common examples of unclaimed property include money in forgotten savings/checking accounts, uncashed insurance benefit and payroll checks, lost stock and dividends, abandoned safe deposit box contents and utility refunds or deposits. Simply visit GreatIowaTreasureHunt.com to begin your search. Be sure to like the Great Iowa Treasure Hunt on Facebook and follow the program on Twitter @GreatIATreasure.

###

03 Feb 2015

Register For a Chance to Win a $5,290 College Savings Iowa Account

By Karen Austin

DES MOINES, IA (02/03/2015)(readMedia)-- State Treasurer Michael L. Fitzgerald is advocating Iowans to take advantage of the benefits of College Savings Iowa to save for future education expenses. "We want parents to know it is never too soon or too late to start planning for their children's education," Fitzgerald said. "As a way to encourage families to take the first step towards saving, College Savings Iowa is giving away a $5,290 account this spring." Visit CollegeSavingsIowa.com to enter the giveaway and see official rules.

College Savings Iowa offers families a tax advantaged way to save money for their children's higher education. It only takes $25 to open an account, and anyone - parents, grandparents, friends and relatives - can invest in College Savings Iowa on behalf of a child. Iowa taxpayers have the additional benefit of being able to deduct contributions up to $3,163 per beneficiary account from their 2015 Iowa adjusted gross income.*

. For more information about future giveaways and events find College Savings Iowa on Facebook and Twitter (@Iowa529Plan).

*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.

**The Earnings portion of nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

 

###

Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as the responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

For more information about the College Savings Iowa 529 Plan, call 1-888-672-9116, or visit CollegeSavingsIowa.com to obtain a Program Description. Investment objectives, risks, charges, expenses, and other important information are included in the Program Description; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor.

College Savings Iowa is an Iowa trust sponsored by the Iowa State Treasurer's Office. The Treasurer of the State of Iowa sponsors and is responsible for overseeing the administration of the College Savings Iowa 529 Plan. The Vanguard Group, Inc., serves as Investment Manager and Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., assists the Treasurer with marketing and distributing the Plan. Ascensus Investment Advisors, LLC, provides records administration services. The Plan's portfolios, although they invest in Vanguard mutual funds, are not mutual funds.

28 Jan 2015

Treasurer Fitzgerald Offers Free Materials for Kindergarten Round-Up

By Karen Austin

Schools across the state are invited to participate in Prepare for the Basics.

DES MOINES, IA (01/27/2015)(readMedia)-- State Treasurer Michael L. Fitzgerald is offering free pencils to schools across Iowa for use in Kindergarten Round-Up through the Prepare for the Basics program. "Our schools know inviting families to visit their school before a new school year begins will help kindergarteners prepare for their big transition," Fitzgerald said. "We offer the pencils as a small gesture of support for our schools." In addition to the pencil, this free program will provide information about College Savings Iowa, the state-sponsored 529 plan created to help Iowa families meet the increasing costs of higher education.

College Savings Iowa lets anyone - parents, grandparents, friends and relatives - invest for college. Iowa taxpayers can deduct up to $3,163 in contributions per beneficiary account from their adjusted gross income in 2015.* Investors can withdraw their investment tax-free to pay for qualified higher education expenses including tuition, books, supplies and room and board at any eligible college, university, community college or accredited technical training school in the United States or abroad.** For more information about College Savings Iowa, visit CollegeSavingsIowa.com or call 888-672-9116.

Elementary Principals interested in taking part in the Prepare for the Basics program are urged to register online by visiting IowaTreasurer.gov. To guarantee timely arrival, materials should be requested at least two weeks in advance. They will be delivered directly to the participating schools. Supplies are limited, so early registration is advised.

*Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.

**The earnings portion of nonqualified withdrawals may be subject to federal income tax and a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

###

Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as the responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

For more information about the College Savings Iowa 529 Plan, call 888-672-9116, or visit collegesavingsiowa.com to obtain a Program Description. Investment objectives, risks, charges, expenses and other important information are included in the Program Description; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor.

College Savings Iowa is an Iowa trust sponsored by the Iowa state treasurer's office. The treasurer of the state of Iowa sponsors and is responsible for overseeing the administration of the College Savings Iowa 529 Plan. The Vanguard Group, Inc., serves as Investment Manager and Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., assists the treasurer with marketing and distributing the plan. Ascensus Investment Advisors, LLC, provides records administration services. The plan's portfolios, although they invest in Vanguard mutual funds, are not mutual funds.

20 Jan 2015

2015 Robert D. Blue Scholarship Application is Available Online

By Karen Austin

DES MOINES, IA (01/20/2015)(readMedia)-- State Treasurer Michael L. Fitzgerald announced today that the application for the 2015 Robert D. Blue Scholarship is available online at rdblue.org. Any graduates of an Iowa high school who plan to attend college in Iowa for the 2015-2016 school year are eligible to apply.

Awards are based on financial need, an original essay, academic achievement and written recommendations. "These scholarships not only help Iowa students financially, but also honor the achievements and potential of the young people of our state," Fitzgerald stated. "Last year, two $1,000 scholarships and two $500 scholarships were awarded to four outstanding students. Each of the recipients represents a different community from across our state and all of them went on to attend a different Iowa college or university."

The Iowa Centennial Memorial Foundation awards the Robert D. Blue Scholarship to Iowa students attending college in Iowa. Governor Blue created the Foundation in 1949 to commemorate the one hundredth anniversary of Iowa's acceptance into the union. At that time, a scholarship fund was established to encourage the youth of the state to attend Iowa's fine colleges and universities. In 1990, the Foundation officially named the scholarship to honor the late Governor Blue.

Robert D. Blue Scholarship applications are only accepted online through May 10 at rdblue.org. The winners will be announced during the summer. Those who would like more information on the Robert D. Blue Scholarship should visit the website, or call the treasurer's office at (515) 242-5270.

###

16 Jan 2015

State Treasury Invests in Iowa's Economy.

By Karen Austin

DES MOINES, IA (01/14/2015)(readMedia)-- State Treasurer Michael L. Fitzgerald announced that Tuesday's Invest in Iowa online auction was the most successful to date. All forty-two of Iowa's participating financial institutions received deposits, for a total of $78.2 million. "We use an auction format offering state deposits to Iowa financial institutions six times a year. This allows the state to earn a competitive return on the funds while ensuring local financial institutions have the money they need to keep the economy moving," Treasurer Fitzgerald said. "The program currently has over $232.9 million invested in Iowa banks."

Fitzgerald created the Invest in Iowa program in 1983 as a way to deposit state funds in Iowa financial institutions. The financial institutions hold the funds as CDs and use the money to make loans.

"Demand for funds reached its highest peak this year," Fitzgerald stated. "This is a reflection of the current market. I am glad this program is available to help stimulate lending around the state."

Invest in Iowa quarterly auctions are held on the second Tuesday of January, April, July and October. In response to growing interest in this program, two auctions offering one-year term CDs are also held throughout the year. The next auction is scheduled for February 24, 2015 at 10 a.m and will offer one-year term CDs. Each auction has an established minimum interest rate and a minimum bid. To learn more about the Invest in Iowa program, visit iowatreasurer.gov, select "Invest in Iowa" under the "For Businesses" tab or contact the treasurer's office at 515-281-5368.

###

02 Jan 2015

State Treasurer Fitzgerald Announces 2015 College Savings Iowa Deduction Amount

By Karen Austin

DES MOINES, IA (01/02/2015)(readMedia)-- State Treasurer Michael L. Fitzgerald announced today that the Iowa income tax deduction has once again been raised for those saving with College Savings Iowa.* "Iowa taxpayers can deduct the first $3,163 they contribute per beneficiary account from their state taxable income," Fitzgerald said. "This means a married couple with two children will be able to deduct up to $12,652 in College Savings Iowa contributions on their 2015 state taxes."

"One of the best features of College Savings Iowa is how easy it is to get started," Fitzgerald added. "All you need is $25 and ten minutes of your time to start saving for a loved one's future educational expenses. I encourage all families to save whatever they can today to help offset what has to be borrowed in the future."

College Savings Iowa lets parents, grandparents, friends and relatives invest for college on behalf of a future scholar. Investors in the plan can withdraw their investment tax-free to pay for qualified higher education expenses, which include tuition, books, supplies and room and board at any eligible college, university, community college or accredited technical training school in the United States or abroad.** While participants do not need to be an Iowa resident to invest in the plan, they do need to be an Iowa taxpayer to take advantage of the Iowa income tax deduction.

or visit CollegeSavingsIowa.com and connect with the plan on Facebook and Twitter (@Iowa529Plan) to stay up to date on current giveaways and events.

*If withdrawals are not qualified, the deductions must be added back to Iowa taxable income. Amount adjusted annually for inflation.

** Earnings on non-qualified withdrawals may be subject to federal income tax and a 10% federal penalty tax on the earnings, as well as state income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.

###

Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as the responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

For more information about the College Savings Iowa 529 Plan, call 888-672-9116, or visit collegesavingsiowa.com to obtain a Program Description. Investment objectives, risks, charges, expenses and other important information are included in the Program Description; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor.

College Savings Iowa is an Iowa trust sponsored by the Iowa state treasurer's office. The treasurer of the state of Iowa sponsors and is responsible for overseeing the administration of the College Savings Iowa 529 Plan. The Vanguard Group, Inc., serves as Investment Manager and Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., assists the treasurer with marketing and distributing the plan. Ascensus Investment Advisors, LLC, provides records administration services. The plan's portfolios, although they invest in Vanguard mutual funds, are not mutual funds.

View Online: http://readme.readmedia.com/State-Treasurer-Fitzgerald-Announces-2015-College-Savings-Iowa-Deduction-Amount/10049908

Attachments

10 Dec 2014

Treasurer Fitzgerald Encourages Shoppers to Give the Gift of Higher Education this Holiday Season

By Karen Austin

And get a gift of your own, a state tax deduction

DES MOINES, IA (12/09/2014)(readMedia)-- State Treasurer Michael L. Fitzgerald has a simple solution for the gift-giving dilemmas of the holiday season. "Instead of trying to put together a wish list of toys that will soon be forgotten or broken, invite the special people in your life to give one of the most meaningful gifts a child may ever receive," Fitzgerald said. "Opening a College Savings Iowa account has two-fold benefits, not only are you helping a child prepare for his or her future education, but you can take advantage of the tax benefits as well. Anyone can help toward paying for a college education."

"Families need all of the help they can get. That is why College Savings Iowa is pleased to offer the Ugift® service to plan participants," added Fitzgerald. "This easy-to-use service allows participants to invite family and friends to celebrate a child's milestones by contributing to his or her College Savings Iowa account."

. For more information about future events, find College Savings Iowa on Facebook and Twitter (@Iowa529Plan).

* Adjusted annually for inflation. If withdrawals are not qualified, the deductions must be added back to Iowa taxable income.

 

###

 

Investment returns are not guaranteed and you could lose money by investing in the plan. Participants assume all investment risks as well as the responsibility for any federal and state tax consequences. If you are not an Iowa taxpayer, consider before investing whether your or the designated beneficiary's home state offers any state tax or other benefits that are only available for investments in such state's qualified tuition program.

For more information about the College Savings Iowa 529 Plan, call 1-888-672-9116, or visit www.collegesavingsiowa.com to obtain a Program Description. Investment objectives, risks, charges, expenses, and other important information are included in the Program Description; read and consider it carefully before investing. Vanguard Marketing Corporation, Distributor.

College Savings Iowa is an Iowa trust sponsored by the Iowa State Treasurer's Office. The Treasurer of the State of Iowa sponsors and is responsible for overseeing the administration of the College Savings Iowa 529 Plan. The Vanguard Group, Inc., serves as Investment Manager and Vanguard Marketing Corporation, an affiliate of The Vanguard Group, Inc., assists the Treasurer with marketing and distributing the Plan. Ascensus Investment Advisors, LLC, provides records administration services. The Plan's portfolios, although they invest in Vanguard mutual funds, are not mutual funds.

21 Nov 2014

Treasurer Fitzgerald Auctioning Off One-of-A-Kind Gifts in Cyber Monday Auction

By Karen Austin

DES MOINES, IA (11/20/2014)(readMedia)-- State Treasurer Michael L. Fitzgerald's upcoming eBay auction just might have that unique gift for someone special on your holiday list. "If you are still looking for a unique gift after you have done your Black Friday shopping, check out our eBay auction starting on Cyber Monday," Fitzgerald encouraged. "Many items are one-of-a-kind or collectibles that were turned over in unclaimed safe deposit boxes." Visit our Facebook page to get a sneak peek of the upcoming auction items.

The auction will begin on Cyber Monday, Dec 1, and will close on Dec 8. Some of the treasures in this online auction include a 1900 $5 Gold Liberty coin XF; 14 karat two-tone antique ladies' ring with eight single cut diamonds and one euro cut diamond; and a men's Hamilton pocket watch. All items included in the auction were reported to the state treasurer as unclaimed property by financial institutions across the state. The auction proceeds are held for the rightful owners until they come forward. Photos, letters and other personal memorabilia will not be included in the auction.

Unclaimed property refers to money and other assets held by financial institutions, businesses and other organizations that have lost contact with the owner for a specific period of time. Common forms of unclaimed property include checking and saving accounts, court deposits, stocks, dividends, life insurance policies, utility deposits, refunds, rebates, wages, and abandoned safe deposit boxes.

On the day of the auction, interested bidders may visit the state treasurer's eBay auction at http://myworld.ebay.com/ia.unclaimed.property.

###

17 Oct 2014

State Treasury Invests in Iowa's Economy

By Karen Austin

DES MOINES, IA (10/15/2014)(readMedia)-- State Treasurer Michael L. Fitzgerald announced that Tuesday's Invest in Iowa online auction was one of the most successful to date. All thirty-four of Iowa's participating financial institutions received money, for a total of $57.5 million in deposits. "We use an auction format offering state deposits to Iowa financial institutions six times a year. This allows the state to earn a competitive return on the funds while ensuring local financial institutions have the money they need to keep the economy moving," Treasurer Fitzgerald said. "The program currently has over $230 million invested in Iowa banks."

Fitzgerald created the Invest in Iowa program in 1983 as a way to invest state funds in Iowa financial institutions. The financial institutions hold the funds as CDs and use the money to make loans.

Invest in Iowa quarterly auctions are held on the second Tuesday of January, April, July and October. The next auction is scheduled for January 13, 2015 at 10 a.m. Each auction has an established minimum interest rate and a minimum bid. To learn more about the Invest in Iowa program, visit iowatreasurer.gov, select "Invest in Iowa" under the "For Businesses" tab or contact the Treasurer's office at 515-281-5368.

###

Pages

Subscribe & Listen to Reader Podcasts

On Stands Now

 

Tagged Content

Two Ways to Subscribe

1. Subscribe to free weekly e-mail content updates.

You'll get both the current official narrative challenge and What's Happenin' in the Quad Cities.
(Did you know we publish a new Amy Alkon Advice Goddess, Real Astrology, Red Meat cartoon and RCR Crossword every week?) 

* indicates required

View previous campaigns.

2. Get 12 monthly issues mailed first class for $48

Get 12 issues mailed monthly for $48 per year.

Get the printed Reader edition mailed to you (or anyone you want) first-class for 12 months for $48.
$24 goes to postage and handling, $24 goes to keeping the doors open!

Click this link to Subscribe now.