Returns fuel 13 percent growth in state endowment

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by Associated Press

KTVB.COM

Posted on January 12, 2013 at 5:06 PM

BOISE -- Beneficiaries of the Idaho state endowment fund are poised to get a little extra cash in 2014 thanks to a solid year of investment returns for the fund.

State investments manager Larry Johnson told lawmakers Thursday the fund posted a 13.8 percent return last year.

The endowment invests revenue from the trust lands Idaho received at statehood. The majority of the proceeds from those lands support public schools. But endowment funds are also diverted to budgets for the two state hospitals, the school for the deaf and blind, state veterans' homes and other accounts.

The Lewiston Tribune reports the distribution to public schools next year will be $31.3 million, unchanged from the 2013 payout.

But all other beneficiaries will see increases ranging from 2.7 percent to 14.1 percent.

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