Idaho’s endowment payouts will shatter the $100 million milestone next year, with public schools receiving almost a $7 million boost.
The State Land Board Tuesday approved a $100.3 million distribution plan for the 2022-23 budget year, starting July 1.
The payments reflect proceeds from management of the state’s 2.5 million acres of endowment land.
Public schools are historically the largest beneficiary from the endowment, and next year will be no exception. The Land Board approved $61.5 million for public schools, up from $54.8 million this year.
“(It’s) great news for Idaho public schools,” said state superintendent Sherri Ybarra, one of the five statewide officials on the Land Board.
The increase for K-12 pencils out at 12.3 percent, compared to an overall 13.9 percent increase in endowment payments. And Idaho’s endowment dollars account for a small fraction of overall K-12 spending; public schools will receive more than $2 billion in state tax collections this year.
Here’s a breakdown of the other endowment payments:
- State Hospital South: $7.6 million, up from $6.4 million.
- Charitable institutions (including Idaho State University, juvenile corrections, State Hospital North, the state veterans hospital and the Idaho School for the Deaf and the Blind): $7 million, up from $6.2 million.
- University of Idaho, School of Science: $6.7 million, up from $5.7 million.
- Normal schools (University of Idaho and Lewis-Clark State College): $6.6 million, up from $5.5 million.
- University of Idaho: $5.9 million, up from $5.1 million.
- State prison: $3.1 million, up from $2.7 million.
- University of Idaho, College of Agriculture: $1.9 million, up from $1.7 million.
The Land Board is composed of Gov. Brad Little, Attorney General Lawrence Wasden, Secretary of State Lawerence Denney, Controller Brandon Woolf, and Ybarra.