Idaho will freeze next year’s endowment payments to public schools and other beneficiaries, in the face of market volatility.
The state Land Board approved the 2023-24 payments Tuesday, making no changes from this year’s record awards.
Here’s a breakdown of next year’s $100.3 million payments, which go into effect July 1:
- Public schools: $61.5 million.
- State Hospital South: $7.6 million.
- University of Idaho, School of Science: $6.7 million.
- University of Idaho: $5.9 million.
- Idaho State University normal school: $3.3 million.
- Lewis-Clark State College normal school: $3.3 million.
- State prison: $3.1 million.
- University of Idaho, College of Agriculture: $1.9 million.
- Idaho State University: $1.9 million.
- Juvenile corrections: $1.9 million.
- State Hospital North: 1.9 million.
- State veterans’ hospital: $1.2 million.
- Idaho School for the Deaf and the Blind: $233,600.
The freeze comes after a trying year on the market.
The state’s endowment fund investment portfolio lost 13% of its value in 2021-22 — after nearly 30% in gains the previous year.
Revenues also fell. Timber receipts generate nearly all of the state’s income from endowment lands. But overall revenues came in at $56.5 million for 2021-22, a decrease of slightly more than $3 million.
The state manages nearly 2.5 million acres of endowment lands.
The Land Board is made up of five statewide elected officials: Gov. Brad Little, state superintendent Sherri Ybarra, Attorney General Lawrence Wasden, Secretary of State Lawerence Denney and Controller Brandon Woolf.