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  • Task Force to Recommend Changes to State School Fund Management
    by kcsg.com news
    Published - 07/30/13 - 10:00 AM | 0 0 comments | 19 19 recommendations | email to a friend | print
    (SALT LAKE CITY, Utah) – The Utah State Board of Education’s School Trust Investment Task Force will recommend changes to the management and oversight of the $1.6 billion permanent State School Fund during Friday’s Utah State Board of Education meeting in Salt Lake City.

    In February, the Utah State Board of Education formed a task force headed by District 8 Board Member Jennifer A. Johnson to study appropriate and prudent investment oversight, process and structure of the state’s School Trust Fund. The permanent State School Fund has grown to a market value of $1.6 billion, and consists primarily of income earned by the School and Institutional Trust Lands Administration. The state has a fiduciary duty to invest those funds in a long term manner, similar to an endowment, and the interest and dividends goes to school community councils who decide how to spend it at the school level. For the 2013-14 school year the trust is providing over $37 million to Utah’s public schools. The fund is now overseen by the Utah State Treasurer’s Office.

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