Drew Dixon
Blaise Ingoglia says it’s good times for Florida’s state treasury, as it has generated $2.5 billion in interest earnings, a record.
The Chief Financial Officer of the state announced on Thursday that the record-breaking amount of earnings in the Florida Department of Financial Services’ Division of Treasury has exceeded the amount initially estimated by the state for earnings. The additional funds will help pay for road projects, schools, hospitals and other projects in the Sunshine State.
“As your Chief Financial Officer, I’m proud to announce that our state treasury has generated record-setting earnings on the money entrusted to us. This didn’t happen by chance,” Ingoglia said in a news release.
“Our treasury team is laser-focused on making Floridians’ dollars work harder, stretch further, and deliver more for the people. When government operates with the discipline and the principles of the private sector and free markets, it creates value instead of eroding it. Every dollar we earn is a dollar taxpayers don’t have to pay.”
As part of its mission, the Division of Treasury oversees cash and assets entrusted to the state. The division also ensures those funds are accounted for accurately. The revenue is generated by the state, using some of those funds to invest.
“By utilizing a balanced approach of short-, intermediate- and long-term fixed-income investments, the Treasury maintains strong liquidity, preserves capital, and delivers excess returns. This disciplined strategy proves that responsible, well-managed government can provide measurable, lasting value for every Floridian,” a press release said.
The record-setting windfall is a feather in Ingoglia’s cap. He was appointed to the CFO’s office by Gov. Ron DeSantis after his predecessor, Jimmy Patronis, was elected to Florida’s U.S. Congressional District 1 seat this year. The House seat was vacated after Matt Gaetz resigned from the seat, having initially been nominated by President Donald Trump to become U.S. Attorney General. But after Gaetz resigned his seat, he backed out of proceeding with the nomination and hearing process before Congress to secure the Attorney General’s position, which fellow Floridian Pam Bondi eventually filled.
Ingoglia is also well-versed in politics, having served as a former Florida Senator.
