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School and Institutional Trust Fund Office reports $4.4 billion portfolio, Amendment B to raise distributions about $15 million
Summary
SITFO officials told the subcommittee the office manages roughly $4.4 billion in assets and has distributed about $118 million in FY25; they said Amendment B (2024) increased the FY26 distribution by about $15 million to roughly $133 million. SITFO leaders highlighted governance, performance, adoption of AI tools, and requested no change to the FY27 requested operating budget.
Ryan Kulig, finance and operations officer for the School and Institutional Trust Fund Office (SITFO), told the Public Education Appropriations Subcommittee that the office now manages approximately $4.4 billion in assets, with cumulative distributions since 1995 of roughly $1.35 billion.
Kulig said distributions to beneficiaries in fiscal 2025 were about $118 million and that Amendment B, passed by voters in 2024 and implemented in the most recent distribution formula,…
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