The Royalty Accounting Unit of the Minerals
Section processes mineral royalty
revenue and executes related audit and
compliance programs. The Leasing Unit is
responsible for leasing and developing the
State's land holdings for energy and mineral
development.
The proceeds from these mineral activities
are deposited into the state's permanent
school fund, created to help finance public
primary education. The dividends and
interest from permanent school fund
investments go into the available school
fund, and from there money is distributed
through the School Finance Act to school
districts on a per/pupil basis. For the fiscal
year 2008, the State Land Board's mineral
revenues were $53.3 million.