Public schools and other critical public institutions will receive nearly $112 million in their annual distribution as a direct result of the strong performance from the School and Institutional Trust Lands System – a five percent increase from this year’s record-breaking distribution.
Of the total distribution, $106 million will be sent directly to public schools, empowering local School Community Councils to determine the best use of the trust funds to support academic needs in their respective schools. Funds have historically provided meaningful benefits ranging from purchasing new library books and educational technology to hiring aides who support teachers in classroom instruction.
“Impressive things happen when parents and education professionals come together on behalf of student improvement. With that common goal coupled with reliable trust funding sources, progress and innovation can happen,” said Paula Plant, Director of the School LAND Trust Program at the Utah State Board of Education.
School Community Councils will be notified in January of funds arriving at their respective schools. They will soon begin planning for how funds will be used during the 2024-2025 school year.
Six million dollars will be distributed to 10 other public beneficiary institutions designated at statehood. Fund uses vary by institution and help support health and human services, higher education and water efficiency in the state.
For example, state and miner’s hospitals use funds to provide excellent patient care, the Utah Division of Juvenile Justice and Youth Services uses funds for offender rehabilitation programming and the Utah Division of Water Resources uses funds to improve water efficiency across the state.
“I applaud the outstanding work of each independent but interconnected part of the Trust System. The prudent administration of trust lands and investment assets benefits Utah’s education programs and other public institutions now and for years to come.” Utah Treasurer Marlo Oaks said.
Four organizations administer, invest, manage, and protect the Utah School and Institutional Trust System. The Trust Lands Administration (TLA) administers Utah’s 3.4 million acres of trust lands, depositing revenue from the land into the permanent trusts. The School and Institutional Trust Funds Office (SITFO) oversees the trust’s investment portfolio. The School Children’s Trust distributes the funds to schools through the School Land Trust Program and supports School Community Councils. The Land Trusts Protection and Advocacy Office ensures beneficiary interests are maximized.
Annual distributions are independent of other tax-funded sources for these institutions.
Follow the Trust Lands Administration on Facebook and Instagram to learn more about the School and Institutional Trust System and how you can get involved with your local School Community Council.
