BOISE, Idaho — Idaho state endowment land brought in nearly $54.8 million for the state's public schools this year, a new record.
Gov. Brad Little on Tuesday morning presented a giant ceremonial check to Superintendent of Public Instruction Sherri Ybarra and members of the Capital Singers, a choir made up of Capital High School students, in the rotunda of the Idaho State Capitol building.
The distribution to Idaho schools for fiscal year 2022 is $2 million more than the distribution for fiscal year 2021, which ended June 30.
"These endowment distribution funds are critical to Idaho schools to support and improve our state education system," Ybarra said. "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 distribution for public schools represents 62% of the total distributions to all beneficiaries, which totaled more than $88 million.
In addition to public K-12 schools, other beneficiaries include state universities, Idaho's juvenile corrections system, state hospitals for the mentally ill, the Idaho School for the Deaf and Blind, and state veterans homes.
The Idaho Department of Lands said the record distribution is a result of increased endowment land revenue combined with revenue from investments.
"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," Gov. Little said. "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."
The Land Board has approved an increase in distributions for fiscal year 2023, with a 12% increase for public schools and an overall increase of 14%. Fiscal year 2023 includes the period between July 1, 2022, and June 30, 2023.
The Land Board is comprised of the Governor, Secretary of State, Attorney General, Controller, and Superintendent of Public Schools.
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