$33 million for school libraries
Yesterday I had the pleasure of joining my fellow commissioners on the Board of Commissioners of Public Lands (BCPL), Attorney General J.B. Van Hollen and Secretary of State Doug La Follette, to present a check for $33 million to DPI Superintendent Tony Evers on behalf of the Common School Trust Fund.
The Common School Trust Fund is the largest of the trust funds that utilize the State Trust Fund Loan Program to invest principal in loans to municipalities and school districts. Over 95% of the interest on that principal goes directly to public school libraries. So in addition to providing aid to public schools to pay for library books and computers, the Common School Trust Fund helps communities finance bus purchases, economic development, construction, road maintenance, and a variety of other public purposes. Over the last year, the State Trust Fund Loan Program loaned more than $224 million to municipalities and school districts for these public projects – this support is critical forWisconsin, and I am glad to play a part in the development of municipalities, and the education of our kids.
I am very proud to say that the $15 million in Unclaimed Property proceeds that my office forwarded last year represents the second largest addition to the Common School Trust Fund, and we are well on our way to another great year.