(UPDATED, 1:52 p.m., with more details on payouts.)

Public schools will get an additional $4.1 million next year from the state’s public lands endowment.

Colleges and universities also will receive increases.

Without discussion, the state Land Board unanimously approved endowment payouts for 2026-27 — the budget year that begins July 1.

The payouts represent proceeds from the state’s 2.5 million acres of endowment lands.

All told, the Land Board carved up $117.3 million Tuesday, a 6.3% increase from this year’s payout.

Here’s how next year’s payments break down:

• Public schools, by far the largest endowment beneficiary, will receive nearly $72.4 million, a 6.1% increase.
• The state’s normal schools will receive nearly $8.5 million, up 9.1%. Idaho State University and Lewis-Clark State College will share these payments equally, as they have in past years.
• A group of “charitable institutions” will share $8.1 million, up 8.1%. The beneficiaries from this payout include Idaho State, which will receive $2.2 million, and the Idaho School for the Deaf and the Blind, which will receive $270,000.
• State Hospital South: $7.8 million, unchanged.
• University of Idaho School of Science: $7.5 million, up 5.4%.
• University of Idaho: $7.3 million, up 10.3%.
• State prison: $3.6 million, up 7.9%.
• University of Idaho College of Agriculture: $2.2 million, up 5.7%.

The payouts came as the state is collecting more money from investments and Idaho Department of Lands operations.

Investment returns were up 11.7% for the budget year ending June 30.

The Lands Department generated $61.6 million in net revenue, a 1.3% increase.

The Land Board is made up of five statewide elected officials: Gov. Brad Little, state superintendent Debbie Critchfield, Attorney General Raúl Labrador, Secretary of State Phil McGrane and Controller Brandon Woolf.