Iowa’s money handler goes for fifth term
October 8, 1998
Michael Fitzgerald took office the same year as Gov. Terry Branstad. However, unlike the governor, Fitzgerald is not calling it quits after this term.
In fact, Fitzgerald is running for the fifth time on the Democratic ticket for the office of treasurer of state against Republican challenger Joan Fitzpatrick-Bolin.
“I have proved to be a fiscal conservative for Iowa,” Fitzgerald said.
As a self-proclaimed conservative Democrat, Fitzgerald said he feels he has been a strong independent voice for Iowan principals, a balanced budget, full reserve funds and controlled spending.
“A strong financial base has been built,” Fitzgerald said. “I have been a strong financial steward for the state’s money.”
As the treasurer of state, Fitzgerald has played the primary role in the management of the state’s funds. According to the Iowa Official Register, the state’s treasurer processes receipts, accounts for funds, invests funds and maintains the custody of funds.
“Bills have always been paid on time, and we have invested in the state of Iowa,” Fitzgerald said.
He has created and developed three major projects as the state’s treasurer.
The first is the Great Iowa Treasurer Hunt. This is a program that finds unclaimed property, bank accounts, savings bonds and stocks, and returns them to the Iowans they belong to.
Each year, $7 million is turned into the Treasurer’s Office. The Treasure Hunt program has returned $31 million to 135,000 Iowans.
Fitzgerald also started the College Savings for Iowa program, which allows parents, grandparents and guardians to put money into an account for the purpose of saving toward a college education. The money in the account can be used as a tax deduction and a federal tax deferment.
The third major project is called Save for America.
“I have gone to Iowa’s elementary schools teaching students to get into the habit of saving money,” Fitzgerald said. “The objective is to get them to save 10 percent of their allowances and watch their savings grow.”
If re-elected, Fitzgerald foresees big challenges in the next four years.
“The rising cost of college, the falling farm economy and the constant challenge of maintaining balanced books will provide plenty of challenges,” Fitzgerald said.
He said the people of Iowa should vote for him this November to continue the “professional, efficient and conservative way the state’s funds” have been handled.