CLO distributes record $145.1M to Oklahoma schools

The Commissioners of the Land Office (CLO) announced a record-breaking $145.1 million distribution to K-12 schools and 13 higher education beneficiaries in Fiscal Year 2024.

This marks a 12 percent increase from the previous year, with $15.7 million more distributed than in Fiscal Year 2023, when the total reached $129.4 million. The 2024 figure also surpasses the prior record of $140.6 million set in 2012 by $5.1 million.

At the Commissioners' July 11, 2024 meeting, Agency Secretary Dan Whitmarsh attributed the record distributions to several factors, including strong performance from income-producing financial investments and substantial growth in revenues tied to Oklahoma's oil and gas industry.

The CLO, established by the Organic Act of 1890, manages 726,000 surface acres and 1.1 million acres of mineral rights to fund education in Oklahoma. The agency generates revenue through land leases for agricultural, recreational and commercial use, along with oil and gas leases and royalties. Its mission is "Managing Assets to Support Education."

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