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Minnesota voters to consider increasing Permanent School Fund payout

Minnesota voters will decide on Nov. 3 whether school districts should receive a larger payout from the state's Permanent School Fund. Only a simple majority is required for the measure to pass.
Growth in the Permanent School Fund from $675 million in 2010 to $2.3 billion this year drove the initiative championed by the Minnesota School Boards Association, which manages 2.5 million acres of land.
Distributions currently hover between 2% and 2.5% of the total value, but if approved, the payout could increase to 4.5% of the average fund value over a rolling three-year period. All public, charter and tribal schools receive payouts.
East Grand Forks Public Schools superintendent Kevin Grover said the revenue provides a cost-free boost, though the district receives approximately $68 per student and faces major budget pressures. "This would definitely help," Grover said.
On Election Day, East Grand Forks voters also face three separate budget referendums aiming to fund deferred maintenance, maintain class sizes, and construct a preschool addition at New Heights Elementary. The third referendum depends on the first two passing.

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Minnesota voters to consider increasing Permanent School Fund payout

The fund was established at statehood in 1858 as a way of supporting school districts through money generated by leases, timber harvesting and mining on state-owned land. All public, charter and tribal schools receive payouts each year.

1 day ago·Cloquet, United States

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