Friday, December 2, 2011

Board of Commissioners of Public Lands Biennial Report/Summary of Common School Fund Assets ("Annotated")

Summary of Trust Assets:  
(From page 10.)

Origin. About 1.5 million acres granted by the federal government in 1848.  (Sidebar:  "A brief history of education in Wisconsin" is found at The Wisconsin Mosaic.)

Land remaining in Trust as of June 30, 2011. 5,626 acres.  (Map of BCPL trust lands ownership.  70,846 acres are in the Normal School Fund, which is also described on page 12 of the report.)

Principal as of June 30, 2011,  Over $835 million.

Additions to principal.  In fiscal years (FY) 2010 and 2011, slightly more than $63.2 million was added through the collection of civil and criminal fines, fees, and forfeitures, and proceeds from the state’s Unclaimed Property Program (As set forth in Article X, Section 2 of the State Constitution)

BCPL State Trust Fund Loans (loans to municipalities and school districts to fund public purpose projects)
State of Wisconsin general obligation bonds
General obligation bonds issued by Wisconsin municipalities and school districts
State Investment Fund

Gross earnings in FY 2010 and 2011. $69.9 million

Earnings distribution.   Each year, after operating expenses are subtracted, net earnings are forwarded to the Department of Public Instruction for distribution as public school library aid.  These funds often represent most, if not all, of a school district’s library budget.   A total of $65.6 million in earnings was distributed in FY 2010 and 2011.

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