Record $37.7 Million Coming to School Libraries from Common School Fund

CommonSchoolFund
Attorney General Brad D. Schimel (left) and Secretary of State Doug La Follette (center) present $37.7 million in Common School Fund earnings to Assistant State Superintendent Kurt Kiefer.

Wisconsin’s K-12 public school libraries will receive $37.7 million, thanks to record earnings from Common School Fund investments, the Board of Commissioners of Public Lands (BCPL) recently announced.

To see funding for your school district, click here.

This 2016 library aid distribution is the largest in the long history of the BCPL. In an era of historically low interest rates, BCPL commissioners are proud to have maintained strong earnings distributions.

The BCPL board is comprised of State Attorney General Brad D. Schimel, State Treasurer Matt Adamczyk, and Secretary of State Douglas La Follette. Together they manage the Common School Fund which today holds approximately $955 million in financial assets and about 5,600 remaining acres of trust lands.

The Board invests the trust fund assets with the goal of providing a long term stable source of public school library funding. The primary investment vehicle is the BCPL State Trust Fund Loan Program, which loans money to local communities for public purpose projects including: economic development, school repairs and improvements, local infrastructure and utility projects, and capital equipment and vehicle purchases. The interest earned on these loans and other investments provide the funds distributed to School Districts as Library Aid.