SITLA Deposits $76M Into Trust Land Beneficiary Endowments
SITLA deposits $76 million into 12 permanent endowments for education, hospitals, universities The Utah School and Institutional Trust Lands Administration, SITLA, reported net contributions of $76,027,304 to the permanent endowments for K-12 education and 11 other trust land beneficiaries, including state hospitals, colleges, and universities. SITLA earned $89.9 million in revenue from energy, mining, real… Read more »
SITLA Trust Land Auction Earns $344K for Schools, UofU College of Mines
SITLA held its biannual public auction this week generating $343,900 for two beneficiary endowments, public schools and the University of Utah College of Mines and Earth Sciences. The seven parcels sold totaled a combined 315 acres and are located in Duchesne, Emery, Garfield, and Sevier counties. By law, SITLA retains the mineral estate. All proceeds… Read more »
Treasurer Damschen Announces Record Distributions
Utah State Treasurer David Damschen announced that the Permanent State School Fund will make the largest-ever distribution to Utah schools next year. Schools are slated to receive a record $88.83 million from the Permanent State School Fund in July 2020 – a 7.5% increase from this year’s distribution of $82.66 million and a 20% increase… Read more »
Back to School with $82.66 Million in Trust Funds
As the new school year begins with a record $82.66 million in School LAND Trust Funds, the School Children’s Trust Section at the Utah State Board of Education urges parents to join their School Community Councils and determine how to best spend their school’s trust funds. Every K-12 school in Utah has its own School… Read more »
Changes to Oil and Gas Royalty Reporting
The agency has made changes to R850-5-300 to clarify the requirements for payors of oil and gas royalty, effective June 1, 2019. Should you have comments or questions, please contact: LaVonne Garrison lavonnegarrison@utah.gov 801-538-5197
December 10 | Board of Trustees Meeting
The School and Institutional Trust Lands Board of Trustees will meet and discuss several lands and operational issues.The full agenda will be posted when available.
