Increased endowment land revenues combined with revenue from investments will provide more dollars to beneficiaries across the state for fiscal year 2022 including local school districts.
Idaho Governor Brad Little presented the check totaling $54,798,000 to the Superintendent of Public Instruction late last month (December). The amount to be distributed to public schools in fiscal year 2022 is $2 million more than the previous year.
Total distributions to all beneficiaries totaled approximately $88 million, with 62 percent going to public school beneficiaries.
The individual amounts for each school district are not available at this time as no foundation payments from the state, including lands endowments, have been made yet for fiscal year 2022, according to Kristin Rodine, public information officer for Idaho State Department of Education.
“The first half will be paid in February; the second half in June,” Rodine wrote in an email, “and the totals won’t be broken out by fund, which is what you want, until after the final payment.”
Numbers for 2020 and 2021 were available, however.
For fiscal year 2020, from the endowment / land distributions, amounts received were as follows: St. Maries, $178,829; Plummer-Worley, $77,897; and Kootenai, $45,508.
Amounts received for fiscal year 2021 from the same distributions were: St. Maries, $181,430; Plummer-Worley, $86,069; and Kootenai, $48,282.
“Through timber harvest and excellent endowment land management practices, along with prudent investing, we are proud to be able to give Idaho public schools this record amount of funding,” said Idaho Governor Brad Little of the distributions for fiscal year 2022. “This speaks to the commitment of the Idaho Department of Lands staff and the Endowment Fund Investment Board who are committed and work hard on behalf of our children and the other beneficiaries. It also shows the Land Board’s commitment to education and the school children of Idaho.”
“These endowment distribution funds are critical to Idaho schools to support and improve our state education system,” said Superintendent of Public Instruction Sherri Ybarra. “We want to thank our educators for their hard work and dedication this year and hope they recognize the Land Board’s commitment to continue these distributions to schools with our ongoing prudent management of endowment land assets and investments.”
The Land Board has approved an increase in distributions for fiscal year 2023, with a 12 percent increase for public schools and an overall increase of 14 percent.
There are nine endowment beneficiary funds that include Idaho’s public schools, universities, state hospitals for the mentally ill and charitable institutions such as the state veterans homes, the Idaho School for the Deaf and Blind and Idaho’s juvenile corrections system.
The Land Board is comprised of the Governor, Secretary of State, Attorney General, Controller, and Superintendent of Public Schools.