Get breaking news alerts via email

Click here to manage your alerts
Utah’s $1.6 billion education trust fund overhauled
Investing » An independent board will oversee the fund; the change aims to boost its investment returns.

< Previous Page

Elizabeth Tashjian, a University of Utah finance associate professor and task force member, replied there are no guarantees, but said other endowments using these best practices have shown greater returns.

A study by Callan & Associates predicts that after eight years under the new structure, the trust fund would have a market value of about $2.8 billion that would generate about $66 million for public schools.

Join the Discussion
Post a Comment

Board members also asked who and how people will be nominated to the new independent board, but the task force did not make recommendations about how to create it.

Next, state education officials will work with the Legislature to craft how to form the new board, which also will oversee two much smaller funds that support deaf and blind students.

Task force member David Hemingway, a senior investment officer at Zions Bank, said he would have liked the new board to have been integrated into the state treasurer’s office, saving the money needed to create a new government agency. But that option didn’t make it into the final list of recommendations.

"Do we really want to take $500,000 to a million dollars out of the fund to form a new department?" Hemingway asked.


Twitter: @RayUtah

Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment

About Reader Comments

Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.