Endowment Fund board seeks pay increases for two investment staff; governor declines full raise

The Endowment Fund Investment Board asked the Joint Finance-Appropriations Committee on Thursday to approve additional ongoing compensation chiefly to raise pay for two senior investment staff, citing market competitiveness and expanded responsibilities.

Janet Jessup, a budget and policy analyst with the Legislative Services Office, introduced the Endowment Fund Investment Board portion of the land-board budgets and outlined the board's staffing and funding structure. She told the committee the board manages investments for the land-grant endowments and other funds but that endowment dollars are appropriated in the agencies that receive them, not in the board's operating budget.

The board requested an ongoing compensation enhancement totaling about $100,000 for fiscal 2026, with separate one-time and inflation items included in its larger budget packet. "The recommendations were made by our compensation committee and our board,"…