Treasurer of State of Iowa · Election November 3, 2026 · Updated
Who should I vote for in the Iowa treasurer of state race?
Roby Smith has the strongest record in the Iowa treasurer of state race. Roby Smith scores 65 out of 100 on the Ballot Standard, ahead of John Norwood at 63, as of October 6, 2026. Roby Smith's highest marks are relevant experience and command of the job. John Norwood's highest marks are relevant experience and command of the job. Every score comes from public records on character, qualifications and performance, the same way for every party.
Democratic
John Norwood
63 / 100
Public evidence on 8 of 15 criteria
- Character
- 50
- Qualifications
- 70
- Performance
- NR
Republican · incumbent
Strongest record
Roby Smith
65 / 100
Public evidence on 10 of 15 criteria
- Character
- 50
- Qualifications
- 75
- Performance
- 63
The good, the bad and the unresolved
The record
The notable facts of each candidate's public life, each tied to a source and confirmed to be this person. Unresolved matters are labeled with where they stand and do not move a score.
John Norwood
- On the record2026-02-02
Founded TBL Ventures, a business advising and impact investing firm, and advises small businesses in Goldman Sachs' 10,000 Small Businesses program.
Sources: KCCI, Feb. 2, 2026, Iowa Capital Dispatch, as published by Yahoo News, Aug. 15, 2026
- On the record2026-05-11
Has served on the Polk County Property Condemnation Commission and the West Des Moines Sister City Commission and chaired the West Des Moines Historical Society.
Source: Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
- On the record2026-08-15
Spoke at the Des Moines Register Political Soapbox at the Iowa State Fair on Aug. 15, 2026.
Source: Iowa Capital Dispatch, as published by Yahoo News, Aug. 15, 2026
- On the record2018 to 2022
Served as an elected Polk County soil and water commissioner from 2018 to 2022.
Sources: Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026, Ballotpedia, John Norwood (candidate survey)
Roby Smith
- On the record2021
Floor-managed Senate File 413, the 2021 election law on absentee ballots and voter list maintenance that cut Iowa's early voting period from 29 to 20 days.
Sources: Iowa Legislature, bills floor-managed by Senator Roby Smith, GA 89, KTIV (Gray Media Iowa), May 20, 2025
- On the record2017 to 2023
Chaired the Iowa Senate State Government Committee from 2017 to 2023.
Source: Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
- Credit2025-10-16
The State Auditor's audit of the Iowa Educational Savings Plan Trust run by his office reported no findings for fiscal 2025, as in the prior year.
Source: Auditor of State, Treasurer of State, Iowa Educational Savings Plan Trust audit, Oct. 16, 2025
Who they are
Character
Integrity
Tells the truth, keeps their word, and takes no private gain from public office.
John Norwood. No public record found.
Roby Smith. State senator 2011 to 2023 and Treasurer since 2023 with no ethics board, court or campaign finance finding naming him found, and no fact-check rating found.
Source: Ballotpedia, Roby Smith
Courage
Takes a stand that costs them something, including telling their own side no.
John Norwood. No public record found.
Roby Smith. No public record found.
Accountability
Owns mistakes, answers hard questions, and works in the open.
John Norwood. Spoke at the Des Moines Register Political Soapbox on Aug. 15, 2026 and talked with fairgoers. No 2026 debate with his opponent was found.
Source: Iowa Capital Dispatch, as published by Yahoo News, Aug. 15, 2026
Roby Smith. No public record found.
Temperament and judgment
Steady under pressure, decides on evidence, and treats opponents and staff with respect.
John Norwood. Elected Polk County soil and water commissioner (2018 to 2022), founder of a business advisory firm and adviser in Goldman Sachs' 10,000 Small Businesses program, with no formal conduct finding found.
Source: KCCI, Feb. 2, 2026
Roby Smith. Banker for about a decade, state senator for 12 years and Treasurer since 2023, with no formal censure, reprimand or conduct finding found.
Source: WHBF (Nexstar), as published by Yahoo News, Dec. 2, 2025
Fidelity to the oath
Uses power inside its limits: accepts certified results, obeys court rulings, follows the rules of the office.
John Norwood. Served as an elected Polk County soil and water commissioner from 2018 to 2022 with no official finding of misuse of office and no action to reject certified results.
Source: Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
Roby Smith. Sworn state senator and Treasurer (sworn in January 2023) with no official finding of misuse of office and no action to reject certified results.
Source: WHBF (Nexstar), as published by Yahoo News, Dec. 2, 2025
What they bring
Qualifications
Relevant experience
Has done work that prepares them for this specific office.
John Norwood. Prior elected office as a Polk County soil and water commissioner; president of TBL Ventures, a business advising and impact investing firm, with an MBA from Yale.
Source: Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
Roby Smith. Treasurer since January 2023 after 12 years in the Iowa Senate (2011 to 2023), and about a decade as a banker.
Source: Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
Command of the job
Knows the issues and knows what the office can and cannot do.
John Norwood. Proposes specific changes tied to the office, including more Treasurer oversight of IPERS, having the IPERS board rather than the governor choose its CEO, and investing short-term state funds in Iowa.
Source: Iowa Capital Dispatch, as published by Yahoo News, Aug. 15, 2026
Roby Smith. Chaired the Senate State Government Committee from 2017 to 2023 and, as sitting Treasurer, sets out specific duties and goals, including fiduciary oversight of 273,000 ISave 529 accounts and the Pooled Money Fund.
Source: Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
Communication
Explains plainly, persuades, and listens.
John Norwood. Three channels documented: completed Ballotpedia's 2026 Candidate Connection survey, answered the Des Moines Register questionnaire and spoke at the Register Soapbox.
Sources: Ballotpedia, John Norwood, Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
Roby Smith. Two channels documented: answered the Des Moines Register's 2026 candidate questionnaire and publishes a campaign site. No Ballotpedia survey or 2026 debate found.
Source: Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
Roots in the constituency
Lives there, knows the people, and is funded by them.
John Norwood. Has lived in West Des Moines for more than 21 years, per his Ballotpedia survey; former Polk County soil and water commissioner and West Des Moines Historical Society chair. In-state donor share not computed.
Sources: Ballotpedia, John Norwood (candidate survey), Des Moines Register candidate questionnaire, as published by Yahoo News, May 11, 2026
Roby Smith. Born in Wyandotte, Michigan; lives in Davenport and represented a Scott County Senate district for 12 years, documented local service. In-state donor share not computed.
Sources: Ballotpedia, Roby Smith, WHBF (Nexstar), as published by Yahoo News, Dec. 2, 2025
Management
Can build and run an organization.
John Norwood. Founded and leads TBL Ventures LLC. No campaign finance penalty naming his committee was found.
Source: Iowa Capital Dispatch, as published by Yahoo News, Aug. 15, 2026
Roby Smith. Has run the Treasurer's office since 2023. Office staff size and independent performance reviews were not sourced.
Source: Ballotpedia, Roby Smith
What they deliver
Performance
Results
Turns ideas into outcomes.
John Norwood. No public record found.
Roby Smith. As Senate State Government chair floor-managed bills that became law, including Senate File 413 (2021) on the conduct of elections; the Legislature lists effective dates for 14 bills he floor-managed in 2021 to 2022.
Source: Iowa Legislature, bills floor-managed by Senator Roby Smith, GA 89
Showing up
Does the basic work of the job.
John Norwood. No public record found.
Roby Smith. No public record found.
Constituent service
Solves problems for the people they represent.
John Norwood. No public record found.
Roby Smith. No public record found.
Coalition building
Wins support beyond their own faction.
John Norwood. No public record found.
Roby Smith. No public record found.
Stewardship of public money
Treats tax dollars as someone else's money.
John Norwood. No public record found.
Roby Smith. The State Auditor's October 2025 audit of the Iowa Educational Savings Plan Trust, which his office runs, reported no findings for the second straight year.
Source: Auditor of State, Treasurer of State, Iowa Educational Savings Plan Trust audit, Oct. 16, 2025
How to read this
Each criterion is scored 0 to 4 against the written rubric in the Ballot Standard. NR means no record: there is no reliable public evidence either way, so the criterion is left out and never counts against the candidate. A total is published when at least 8 of 15 criteria have evidence.
A sitting officeholder has a longer public record than a first-time candidate, so the two totals rest on different amounts of evidence. Read the count of criteria beside each score. Low marks require an official finding or a primary record. Allegations and opinion are not used.
No policy position is scored. Evidence checked October 6, 2026. Campaigns and readers can send a correction with a public source to tpg@thepoliticalgroup.com.
Questions
Who should I vote for in the Iowa treasurer of state race?
Roby Smith has the strongest record in the Iowa treasurer of state race. Roby Smith scores 65 out of 100 on the Ballot Standard, ahead of John Norwood at 63, as of October 6, 2026. Roby Smith's highest marks are relevant experience and command of the job. John Norwood's highest marks are relevant experience and command of the job. Every score comes from public records on character, qualifications and performance, the same way for every party.
Who is running in the Iowa treasurer of state race in 2026?
John Norwood (Democratic), Roby Smith (Republican, incumbent). The general election is November 3, 2026.
Is John Norwood a good candidate for Treasurer of State?
John Norwood scores 63 out of 100 on the Ballot Standard, with public evidence on 8 of 15 criteria: character 50 of 100, qualifications 70 of 100, performance no record. The standard measures character, qualifications and performance, not policy positions.
Is Roby Smith a good candidate for Treasurer of State?
Roby Smith scores 65 out of 100 on the Ballot Standard, with public evidence on 10 of 15 criteria: character 50 of 100, qualifications 75 of 100, performance 63 of 100. The standard measures character, qualifications and performance, not policy positions.
How is the strongest record decided?
The candidate with the highest Ballot Standard score has the strongest record. Each of 15 criteria on character, qualifications and performance is scored 0 to 4 from public records and established reporting, the same way for every party. No policy position is scored, and unresolved accusations never move a score.
More on this race: every Iowa race scored, and the Iowa 2026 election guide. Independent scorecard by The Political Group, not affiliated with any candidate or party.