The State budget consists of a multitude of taxes, user fees, federal receipts, interest earnings, and revenues from numerous fines and other miscellaneous sources. For Fiscal Year 2016, the state's total revenue collected was $23.715 billion or $7,573 for every Iowan.
All taxes and fees collected by the state are direct to specific funds to be used for specified purposes. Iowa’s General Fund, which is the state’s main operating fund, is the largest and receives most of the attention by law makers during the legislative session.
How Much Has Iowa Collected?
According to an Legislative Services Agency report, the general fund collected $8.744 billion during the 12-month period ending March 31, 2019. This amount is $274.1 million more compared to the prior 12 months.
The major contributors to the year-over-year changes are represented below: