HomeState Treasurer Names New Board to Manage Permanent Fund

State Treasurer Names New Board to Manage Permanent Fund

Utah State Treasurer Richard K. Ellis announced the appointment of the School Trust Fund Board of Trustees, which will oversee the investment of the Permanent School Fund. The Fund has a balance of nearly $2 billion to which the School and Institutional Trust Lands Administration (SITLA) has contributed $1.4 billion. Annual interest income from this education endowment is distributed to Utah’s K-12 public schools. Tim Donaldson, School Children’s Trust Director for the Utah State Board of Education, added “the distribution to schools for the upcoming 2014-15 school year is almost $40 million, or approximately eight times larger than when the School LAND Trust Program began in 2000. This money is making a substantial difference in helping fund Utah’s public schools.” Mr. Ellis will chair the five-person board and will be joined by: Kent Misener, CFA, appointed to a six-year term; David Nixon, CFA, appointed to a five-year term; Duane Madsen, appointed to a four-year term; and John Lunt, appointed to a three-year term.

Enjoy this article? Share it with the world.

Additional News Articles

Contact Us

General contact us form.