School Lands Trust funds will yield a higher return to local schools and their associated Community Councils than was originally anticipated.  After a significant market “hit” to the fund over the last year, driving down the value of state trust land investments, the fund’s value is around $780 Million, from its previous high of nearly $1 Billion.  Instead of an anticipated cut of nearly 24%, the fund will only see a modest drop of around 10%.

This is “good news” for local Community Councilswho have grown fond of having the “extra” discretionary cash to spend on in-school projects (i.e. ancillary educational developmental programs, p.e. equipment, etc.).  The “extra” cash comes from dividends and earned interest on the trust’s permanent account.  Deseret News article.

Also, the U.S. House of Representatives, last Wednesday, unanimously passed a proposal by Rep. Jim Matheson (D-UT), to swap Utah trust lands for “revenue” generating Utah trust lands.  Deseret News article.  This move will undoubtedly encourage additional oil and gas harvesting from these remote area lands, increasing available monies to the state’s public schools.

Representative Frank (Co-Sponsor) voted to increase the “Cap” on school trust lands funds in 2005 General Legislative Session.  (HB43 School Land Trust Program Funding Amendments, Rep. Urquhart)