Fund

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Funds generated on School Trust Lands are transferred to the School and Institutional Trust Funds Office (SITFO) to be managed by the SITFO Board and Office. This is the link to the newly created School and Institutional Trust Fund Board and Office.  https://sitfo.utah.gov/ 

The photo above is Treasurer David Damshen being sworn in as the State Treasurer of Utah.  The State Treasurer is the chair of the SITFO Board.

The Utah Enabling Act and Utah Constitution require the establishment of a permanent school fund. All net proceeds of the trust lands are deposited in the fund. Like an endowment, the principle is never spent; only the interest and dividends are distributed to support public schools. The capital gains are reinvested to grow the fund and its impact on students. The permanent State School Fund has grown from $18 million (1983) to over $2 billion (2015) because of the involvement of the education community, the subsequent support of the legislature, increasing revenues coming from the land and the prudent investment of the fund.

In 2016 Schools received over $49 million dollars for the School LAND Trust Program.