$52.5 million endowment lands and fund distribution to Idaho SchoolsMonday December 21, 2020
(BOISE) – Due to COVID-19, the traditional high school choir performance for the Idaho State Board of Land Commissioners (Land Board) and check presentation to the students at the State Capitol did not take place this year.
The Land Board instead presented a large, symbolic check to school children this year by video during the live Land Board meeting December 15. The virtual presentation recognizes the endowment lands and fund distribution of $52,586,400 for the current school year (Fiscal Year 2021). The video is available for media use and can be found here: https://youtu.be/OBd6uFpqF8U
There are nine endowment beneficiaries that include Idaho's public schools, universities, state hospitals for the mentally ill, state veterans homes, the Idaho School for the Deaf and Blind, Idaho's juvenile corrections system, and Idaho's prison system.
Planning for the future, the Land Board has also approved the distribution for Fiscal Year 2022 (July 2021-June 2022). A total of $88,076,500 will be distributed to the endowment beneficiaries, with $54,798,000 going to public schools next school year, which is an increase from Fiscal Year 2021.
The money for endowment beneficiary distribution comes from timber sales, leases on endowment lands and earnings from the land grant endowment fund. The land grant endowment fund of $2.4 billion generated an investment return of 5.2 % for the year ending June 30, 2020.
The Land Board is comprised of the Governor, Secretary of State, Attorney General, Controller, and Superintendent of Public Schools.
# # #
CONTACT: Sharla Arledge, Public Information Officer | 208-334-0286 or email@example.com