Indiana State Treasurer Daniel Elliott lauds investment earnings. How does it work?

Indiana State Treasurer Daniel Elliott said investments managed by his office earned more than $500 million for the state's General Fund last fiscal year.

And Elliott said the total investments earned since he took office in 2023 are more than the previous 10 years combined.

Elliott said earnings from the taxpayer dollars his office invests go back to the General Fund to be spent by the state legislature.

"Every dollar that I raise in revenue for the state of Indiana through these investments is a dollar that we don't have to tax Hoosiers," Elliott said.

Elliott said he regularly updates lawmakers on how the investments are performing so they can consider that when they write the state budget.

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He said his investment strategy tries to give budget writers as much predictability as possible.

"These are dollars that have got to be there when the time comes to pay the state's bills," Elliott said. "So, with that being said, we have to look at creative ways to make sure that this is getting a good yield, but still always have that safety factor."

Elliott has significantly increased state investment in Israeli bonds, which he said have offered higher returns.