Home$354K For Teaching Colleges From State Permanent Fund

$354K For Teaching Colleges From State Permanent Fund

Colleges of education and teaching at the University of Utah, Utah State, Dixie State, Utah Valley, Weber State, and Southern Utah universities received individual checks totaling $354,366, the annual interest and dividends from the $5.4 million Normal Schools Permanent Fund, along with rents, royalties, and fees generated from its trust lands. Teaching colleges, referred to as Normal Schools in Utah’s constitution, were allotted 100,000 acres of trust land at the time of statehood. The Utah School and Institutional Trust Lands Administration (SITLA) manages the lands and deposits revenues into the Normal Schools Permanent Fund. The Fund is invested by a separate agency, the School and Institutional Trust Funds Investment Office. SITLA Director David Ure, who presented the checks to the six colleges, reported the interest and dividends from the endowment are distributed annually to state teaching colleges based on the number of students graduating from each institution. He added these funds are used at the discretion of each college. SITLA also generates revenue for and deposits funds into 11 other permanent funds, including: public schools, Schools for the Deaf and the Blind, the Utah State Hospital, Juvenile Justice Services, Utah State University, the University of Utah, and Miners Hospital at UofU Medical Center, state reservoirs, and public buildings.

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