Dec. 14—BISMARCK — The department that manages state lands and mineral rights in North Dakota has announced record funding for education in the state.
Trust Lands Commissioner Joseph Heringer said the Department of Trust Lands has paid out a historic $620 million in benefits for the 2025-2027 biennium, reflecting a significant increase in asset values.
“This will ultimately benefit education in the state, both at the primary to secondary school level and at the university level,” he told The Forum.
When North Dakota became a state in 1889, the state received land from the federal government.
The Board of University and School Lands is charged by the state constitution with overseeing the management of those lands and mineral rights, Heringer said.
Trust Lands’ board and staff manage assets that include more than 700,000 hectares of land, 2.6 million hectares of mineral waters and 13 permanent trusts, all to generate income.
That management has maintained the integrity of the assets while driving growth, resulting in a 17% biennial increase in total distributions to fund beneficiaries.
“In fact, they are like donations to the state,” Heringer said.
The record growth is due to a combination of factors, he said, including $2 billion in oil and gas rights generated from nearly 10,000 wells over the past five years, agricultural leases, easement income and a diversified investment portfolio of $7.4 billion .
The $7 billion Common Schools Trust Fund makes up the vast majority of that portfolio.
In the current biennial period, the Common Schools Trust Fund amounts to $500 million, distributed by the Department of Public Education to schools according to the state school funding formula.
In the 2025-2027 biennium, that amount will rise to nearly $585 million.
“These funds will continue to ensure that education in our state remains strong now and for generations to come,” Heringer said.
Here’s a look at how nearly $620 million in Trust Lands funds will be distributed to beneficiaries over the next two years:
* Common Schools Trust Fund (K-12 public education): $584,677,350
* North Dakota State University: $8,770,000
* University of North Dakota: $6,948,000
* Juvenile Justice Center: $3,136,000
*State College of Science: $2,570,284
* School for the Deaf: $2,388,000
* State Hospital: $1,976,284
* School for the Blind: $1,936,284
*Valley City State University: $1,566,000
* Mayville State University: $1,102,000
* Veterans Home: $994,284
* Dickinson State University: $406,284
* Minot State University: $406,284
* Dakota College at Bottineau: $406,284
