North Dakota land trusts to produce record distribution to schools, universities

Jacob Orledge / North Dakota Monitor By Jacob Orledge / North Dakota Monitor Today at 10:33 AM Listen Comments Share Share this article News Reporting News Reporting Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. The Trust Project What is this? The North Dakota agency responsible for managing state trusts announced Monday, Nov. 9, a record payout is expected during the next budget cycle. The Department of Trust Lands, responsible for managing the Common Schools Trust Fund and 12 other permanent trusts, will distribute $762 million in earnings for the 2027-2029 biennium. ADVERTISEMENT The payout will include more than $722 million from the Common Schools Trust Fund, which helps fund K-12 education. That’s about 24% higher than the contribution during the 2025-27 budget cycle. “These record distributions will provide crucial support for educational institutions and students in classrooms across our great state, from kindergarten to college,” Gov. Kelly Armstrong said in a statement. Armstrong chairs the Board of University and School Lands. The Common Schools Trust Fund collects revenue from several sources including oil and gas royalties, surface property rents and the income derived from investing these funds. It was valued at $9.3 billion as of June 30. The state constitution requires 10% of the five-year average value of the trust’s assets to be distributed to K-12 schools each biennium. The trust fund contributed nearly $585 million, or 24% of the state’s per-pupil funding responsibility, during the 2025-2027 biennium. The agency also manages a dozen other trusts that distribute funding each biennium. The 2027-2029 biennium’s distributions include $10.6 million for North Dakota State University and $8.4 million for the University of North Dakota, as well as payouts to other education institutions. The distributions will also include $3.9 million for the Youth Correctional Center, $2.5 million for the State Hospital and $1.2 million to the North Dakota Veterans Home. “These historic distributions reflect the Land Board’s commitment to responsible stewardship and ensuring North Dakota’s trust assets deliver lasting value,” said Joseph Heringer, land commissioner. “By carefully managing these resources, we are strengthening educational opportunities across the state and investing in a brighter future for generations of North Dakotans.” ADVERTISEMENT The Legacy Fund, another state investment portfolio that is managed by a different agency, is expected to have a record $894 million distribution for 2027-29. The Retirement and Investment Office’s preliminary estimate provided to lawmakers in August is 30% higher than the last payout from the Legacy Fund. READ MORE Poll: North Dakotans worry data centers will strain power, water 5h ago Fargo senator wants restrictions on license plate readers 12h ago Voters in 2 North Dakota counties reject property tax increases 1d ago Text Example This story was originally published on NorthDakotaMonitor.com. Text Example ____________________________________ This story was written by one of our partner news agencies. Forum Communications Company uses content from agencies such as Reuters, Kaiser Health News, Tribune News Service and others to provide a wider range of news to our readers. Learn more about the news services FCC uses here. Comments Share Share this article News Reporting News Reporting Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. The Trust Project What is this? Tags Tags NORTH DAKOTA Listen to this article Conversation ADVERTISEMENT What To Read Next North Dakota North Dakota traffic victims to be remembered 2d ago · By Staff reports North Dakota North Dakota's Pembina Gorge State Park completes first season 3d ago · By Maxwell Marko North Dakota Fedorchak to continue connecting with North Dakotans in second term 3d ago · By Jordan Rusche ADVERTISEMENT Get Local Must Reads North Dakota Voters in 2 North Dakota counties reject property tax increases 1d ago · By Jack Dura / North Dakota Monitor North Dakota North Dakota's Pembina Gorge State Park completes first season 3d ago · By Maxwell Marko Pro What do the Vikings need at the trade deadline? 15h ago · By Dane Mizutani / St. Paul Pioneer Press Lifestyle What if this winter’s forecast holds true? 3d ago · By Don Kinzler