|
Tuesday, August 16, 2022
- The Attorney General was absent, all other members were present
- Review the Final Agenda
Department Report
Timber
Leases & Permits
Fire Season Report
Land Revenue Forecast
Resource Protection and Assistance Report
Consent Agenda
Regular Agenda
Endowment Fund Investment Board Report
Manager’s Report
Investment Report
Reclass FY2022 Earnings Reserve Transfer
- Attachment: Reclass FY2022 Earnings Reserve Transfer
- Approved 4-0
- Governor Brad Little asked about the method of calculation. EFIB Manager Chris Anton noted the calculation compares the CPIU to the current inflation rate.
- The Governor asked if Anton had advice about timberland purchases being based on 2.5% inflation. Anton said with long term analysis of 10 years the expectation is that inflation will return to 2.5%.
- The Controller asked about the timing now versus a year ago when the money was transferred. Anton noted there is discretion on this type of transfer. He stated he did not look at the transfer closely enough in September and how this large amount would affect the gain benchmark. He added that it is an accounting issue and there is no legislative reason the change cannot be made now before the audit.
FY2024 Beneficiary Distributions
- Attachment: FY2024 Beneficiary Distributions
- Approved 4-0
- The Governor asked about the 7% used for State Hospital South and if that number should be moved down at some point. Anton said it would be appropriate to look that percentage at in the future.
- The Controller asked what the dollar amount of the distribution would have been if policy was followed. Anton said if the 5% calculation were used, the number would be $106.4 million
FY2024 Department of Lands Budget Enhancements - approved 3-0, the governor recused himself
- Attachment: FY2024 Department of Lands Budget Enhancements
- Approved 3-0, the Governor recused himself
- The Controller asked the department about the method or process to determine what the funding source will be. The director noted that the dedicated fund for the fire decision units is headed for a deficit. He said the dedicated account is paid into by the timberland owner at a rate of 60-cents an acre as well as by the endowments. Ideally, he would like to pay for more resources out of that fund but is unable to. He also noted many are suppression resources that are appropriate for the general fund.
- IDL Finance Officer Debbie Buck stated that with the acres in our state, some are assessed and they pay into the dedicated fund, the other funding source is the general fund. IDL protects land that is not assessed. Historically it is a balance with the acres of protection, those assessed and those not assessed. Regarding the capital outlay requests, a lot of the requests start out general fund, and then IDL charges a rate when the resources go out to federal fires. That rate goes into the WERF fund and in the future that WERF fund will replace that equipment.
- The Controller asked if the department has the bandwidth to take care of these items if they are granted a supplemental. The director said he believes the department will be able to accomplish these items as there has been a great deal of discussion and planning. He added that IDL does have the capacity to implement them.
Information Agenda
Future of Cottage Site Leasing: 2025 Plan
University of Idaho CAFE Project Proposal
- Attachment: IDL Memo
- Attachment: U of I Presentation
-
The Governor asked if there was agreement that this meets the Morrill Act. UI General Council Kent Nelson believed everyone was in agreement.
-
The Controller asked how the assets were going to be divided, concern buildings might be divided in percentages of ownership. Nelson stated they expect to have clear ownership of assets spelled out when it is brought back to the Land Board.
|
|
|
|
