Luna seeks more endowment money from land board

A disagreement over how much endowment money Idaho public schools should get from the State Land Board has led to a one-month delay in making the final decision, Idaho Education News reports.

The land board’s investment manager says it should distribute about $31 million. He also said board should increase the reserve account, which dropped when Luna got a one-time $22 million increase in the distribution in 2010.

State schools chief Tom Luna wants $36.9 million.

“What concerns me is while we are building our reserves, school districts are depleting theirs and many of them have no reserves left at all,” Luna said.

Posted in In The Classroom