HELENA — Revenue from Montana’s state trust lands increased in Fiscal Year 2018 for the first time in five years. However, the income is still well below the 10-year average.
The Independent Record reports trust lands managed by the Department of Natural Resources and Conservation brought in $87.4 million between July 2017 and June 2018. That’s up from $86.2 million in FY2017, but below the 10-year average of $113 million.
The DNRC says mineral, agricultural, logging and real estate leases brought in $63.9 million and the school trust received $23.3 million in interest and other revenue. The fund distributed $53.2 million to public schools and put $19.6 million into a permanent fund that now holds $675 million.
Trust land division manager Shawn Thomas told the state Land Board on Nov. 19 that projected income for FY2019 is looking pretty good.