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Board appointed to oversee school fund

Published: Wednesday, Aug. 20 2014 1:34 p.m. MDT

SALT LAKE CITY — Utah State Treasurer Richard Ellis has announced the appointment of the School Trust Fund board of trustees, which will oversee the School and Institutional Trust Lands Administration.

Ellis will be chairman of the five-person board and will be joined by Kent Misener, appointed to a six-year term; David Nixon, appointed to a five-year term; Duane Madsen, appointed to a four-year term; and John Lunt, appointed to a three-year term.

“I look forward to working with these individuals, all of whom possess outstanding professional qualifications, as we begin the search for a chief investment officer and build upon the historic successes of the treasurer’s office," Ellis said.

Martell Menlove, Utah’s state superintendent, praised the treasurer in helping to build the permanent school fund to almost $2 billion, and said he encourages Utah’s parents to get involved in school improvement by running for their local school community council.

“Parents can work with teachers and principals to decide how this money is best spent to continually improve the education of Utah’s students,” Menlove said.

Tim Donaldson, school children’s trust director for the Utah State Board of Education, added that “the distribution to schools for the upcoming 2014-15 school year is almost $40 million, or approximately eight times larger than when the (trust fund program) began in 2000. This money is making a substantial difference in helping fund Utah’s public schools."

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