The state's projected to have a $1.6 billion general fund surplus by June, based on the expected growth in oil production.
State coffers are flush. The state's projected to have a $1.6 billion general fund surplus by June, based on the expected growth in oil production. Various other funds are also rolling in a lot of dough.
The Common Schools Trust Fund that benefits public schools has hit the $2 billion mark. The fund's income comes from the sale of mineral rights, and royalty payments from oil production. Department of Trust Lands commissioner Lance Gaebe says leasing out state pasture land also brings in dollars.
During the current two-year budget, schools are getting about $93 million. Gaebe says that will be going up to $137 million in the next two years.