Idaho Endowment Lands Produce a Record $124 Million
BOISE, Idaho (AP) — Idaho's endowment lands generated a record $124 million in the fiscal year that ended June 30. The Idaho Department of Lands in a report last week also says that the Idaho Endowment Fund increased 3 percent to $1.8 billion.
The state agency says that strong returns over the last five years has permitted boosting distributions to beneficiaries, mainly public education, by 9 percent to $56.5 million. The biggest money producer from state lands last year was timber, which generated $68.2 million.
But about 30 percent of endowment land revenue came from the one-time sale of state land to private individuals as officials work to get out of the cabin-site renting business. Director Tom Schultz says the agency is considering using some land sale money to buy private land.