K-12 will receive $2.2 million boost in endowment money

Public schools will receive a $2.2 million boost in state endowment dollars next year.

The Idaho Land Board Tuesday approved a record $88.1 million in endowment payments. The payments go into effect for the 2021-22 budget year, which begins July 1.

The proceeds come from earnings off 2.5 million acres of state-owned lands — and the money goes to several beneficiaries. Public schools receive the largest share of endowment revenues.

Here’s how the money breaks down:

Beneficiary 2020-21 payment 2021-22 payment Change
Public schools $52,586,400 $54,798,000 4.2 percent
State Hospital South $6,369,600 $6,425,000 0.9 percent
University of Idaho School of Science $5,420,400 $5,735,500 5.8 percent
University of Idaho $4,766,400 $5,102,000 7.0 percent
Idaho State University normal school $2,667,000 $2,743,750 2.9 percent
Lewis-Clark State College normal school $2,667,000 $2,743,750 2.9 percent
Penitentiary $2,500,800 $2,689,500 7.5 percent
University of Idaho College of Agriculture $1,551,600 $1,660,000 7.0 percent
Idaho State University $1,597,760 $1,647,733 3.1 percent
Juvenile Corrections $1,597,760 $1,647,733 3.1 percent
State Hospital North $1,597,760 $1,647,733 3.1 percent
State veterans’ homes $988,600 $1,029,833 3.1 percent
School for the Deaf and the Blind $199,720 $205,967 3.1 percent
Total $84,520,800 $88,076,500 4.2 percent

While public schools receive the largest share of endowment dollars, the money represents a relatively small share of K-12 spending. By contrast, public schools will receive roughly $1.9 billion in state tax dollars this budget year.

Five statewide officials sit on the Land Board: Gov. Brad Little; state superintendent Sherri Ybarra; Attorney General Lawrence Wasden; Secretary of State Lawerence Denney; and Controller Brandon Woolf.

Kevin Richert

About Kevin Richert

Senior reporter and blogger Kevin Richert specializes in education politics and education policy. He has more than 30 years of experience in Idaho journalism. He is a frequent guest on KIVI 6 On Your Side; "Idaho Reports" on Idaho Public Television; and "Idaho Matters" on Boise State Public Radio. Follow Kevin on Twitter: @KevinRichert. He can be reached at [email protected]

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