Date: 01/21/2015

Final
Presentation by the State Land Board

COMMITTEE ON JOINT EDUCATION

Votes: View--> Action Taken:
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10:38 AM -- Presentation by the State Land Board

Representative Buckner, recognized the members of school boards present in the room for Colorado Association of School Boards (CASB) day at the Capitol.

Bill Ryan, Director of the State Land Board, came to the witness table and discussed the role of the board in education funding. He explained how the board earns money, and how those funds are spent. He went over the history of the board and referred to a map of state trust lands. He discussed the board's mission to support schools while meeting the needs of current and future generations. He told committee members that the board manages eight trusts, and that the largest is the school trust which comprises 98 percent of the board's revenue and 98 percent of the assets owned by the board. He explained that the board is governed by a 5-member board of commissioners, that the board members are appointed by the Governor, and that each board member has a unique area of expertise. He discussed the board's dual mission: to produce reasonable and consistent income, while providing sound stewardship of its assets. Mr. Ryan responded to questions from the committee.


10:42 AM

Mr. Ryan continued his presentation. He explained that the board is self-funded, that it has 42 employees, and that it costs $5 million each year to run the organization. He told committee members that the board relies on lessees and partners to achieve its goals. He discussed the different types of leases the board offers and referred to slides distributed to the committee (Attachment D). He explained that trust lands are held for specific purposes and are not always open to public access, but that the board does have large leases with recreational organizations. He told the committee that the board makes money through extractive businesses, asset sales, and leases. He discussed the current volatility in oil prices and how that may impact the board's profits in the future. He discussed the board's recurring-revenue businesses such as agricultural and grazing leases. Mr. Ryan responded to questions from the committee.

JtEd0121AttachD.pdfJtEd0121AttachD.pdf

10:59 AM

Mr. Ryan continued his presentation, discussing how the board benefits education. He explained that 50 percent of the board's revenues go to the Building Excellent Schools Today (BEST) program. He discussed the success of the BEST program, with more than 300 schools impacted statewide. Mr. Ryan responded to questions from the committee.


11:07 AM

Mr. Ryan continued to respond to questions from the committee.