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.