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|
|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|
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.