BISMARCK, N.D. (NOV. 9, 2026) – On behalf of the Board of University and School Lands (Land Board), the Department of Trust Lands is pleased to announce historic distributions of nearly $762 million to trust beneficiaries for the 2027–2029 biennium, reflecting strong growth in asset values.
The Land Board, in close collaboration with Trust Lands staff, manages more than 700,000 surface acres, 2.6 million mineral acres, and 13 permanent trusts. This prudent management has preserved the integrity of these assets while driving substantial growth, with overall distributions to beneficiaries increasing an average of 23% this biennium over last.
This record growth stems from a powerful combination of factors, including $2.4 billion in oil and gas royalties generated over the last five years from nearly 10,000 wells, along with income from agricultural rents, easements, and a well-diversified $9.5 billion investment portfolio. Together, these sources strengthen the funding of education in North Dakota, both now and for future generations. The Common Schools Trust Fund, valued at $9.3 billion as of June 30, 2026, makes up the vast majority of the Land Board's investment portfolio. The 2027-29 distribution from the Common Schools Trust fund will be $722 million, up 23.5% from the current biennium distribution of $585 million.
“Responsible management of our state’s mineral and land resources continues to produce meaningful benefits for North Dakota’s greatest resource – our young people,” said Gov. Kelly Armstrong, who chairs the five-member Land Board consisting of the governor, State Superintendent of Public Instruction Levi Bachmeier, State Treasurer Thomas Beadle, Secretary of State Michael Howe and Attorney General Drew Wrigley. “These record distributions will provide crucial support for educational institutions and students in classrooms across our great state, from kindergarten to college.”
2027-29 Biennial Distributions
- Common Schools Trust Fund (K-12 Public Education) - $722,451,420
- North Dakota State University - $10,602,000
- University of North Dakota - $8,380,000
- Youth Correctional Center - $3,900,000
- State College of Science - $3,018,000
- School for the Deaf - $2,790,000
- State Hospital - $2,252,000
- School for the Blind - $2,344,000
- Valley City State University - $1,990,000
- Mayville State University - $1,410,000
- Veterans Home - $1,186,000
- Dickinson State University – $494,000
- Minot State University – $494,000
- Dakota College at Bottineau - $494,000
“These historic distributions reflect the Land Board’s commitment to responsible stewardship and ensuring North Dakota’s trust assets deliver lasting value,” said Joseph Heringer, Trust Lands Commissioner. “By carefully managing these resources, we are strengthening educational opportunities across the state and investing in a brighter future for generations of North Dakotans.”