Friday, March 20, 2020
Iowa's state government could operate for 37 days on reserve funds according to a PEW research study.
The Revenue Estimating Conference (REC) said Iowa's financial position is sound, but cautioned it is too early to calculate the impact of the coronavirus.
In just a few days, uncertainty in many areas of our lives has increased. Outside pressures on Iowa's budget are unknown at this time, but the state's reserve fund balances are in good shape compared with many other states.
Iowa's state government could operate for 37 days on reserve funds according to a PEW research study. This is higher than the 50-state median amount of 27.9 days and 13th highest in the country.
In fact, the same article indicates Iowa's reserve funds had enough in total balances to cover a larger share of government spending than they could before the 2007-2009 recession.