State Funds Filling Up - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

State Funds Filling Up

Posted: Updated:
According to the Department of Mineral Resources, the oil and gas industry produces over 10 million dollars a day in tax revenue for the State of North Dakota.

State Treasurer Kelly Schmidt says so much money is rolling in that many of the state funds are full.

Because legislators capped some funds, it really has only two places to go.

The Legacy fund keeps growing, it surpassed two billion dollars in April.

The other fund that still collects money is one intended to support infrastructure.

According to Schmidt, these funds have filled up faster than expected.

"I think it's more than anyone ever anticipated, and it gives ND some wonderful opportunities, many challenges, but many opportunities.  I think we are going to have to be good stewards of the tax payers dollars as we move forward setting our priorities and doing what we need to what's best." says Kelly Schmidt, state treasurer."


Schmidt estimates the Legacy fund will reach 3 billion dollars by the end of the fiscal year.

  • Bismarck/Mandan NewsMore>>

  • Authorities Search for Man Last Seen in Killdeer Friday

    Authorities Search for Man Last Seen in Killdeer Friday

    Monday, July 28 2014 11:44 AM EDT2014-07-28 15:44:10 GMT
    The Dunn County Sheriff's Department is looking for a man missing since Friday afternoon.
    The Dunn County Sheriff's Department is looking for a man missing since Friday afternoon.
  • ND Produces 1 Million Barrels a Day

    ND Produces 1 Million Barrels a Day

    Wednesday, June 18 2014 8:56 AM EDT2014-06-18 12:56:03 GMT
    The North Dakota Oil and Gas Division reports that oil companies are producing one million barrels of oil per day.
    The North Dakota Oil and Gas Division reports that oil companies are producing one million barrels of oil per day.
  • Train Delays on the Tracks Improving for Elevators

    Train Delays on the Tracks Improving for Elevators

    Thursday, July 31 2014 12:04 PM EDT2014-07-31 16:04:37 GMT
    It's been an ongoing issue in the ag industry for months.Train Delays.In fact, grain elevators are more than 3-thousand cars behind schedule.Ag Reporter Sarah Heinrich checks in on the situation to see if wait times are improving. It's a scene that's been the same for months.Empty tracks.(Josh Mardikian / South Central Grain, Sterling) "I don't think we got beyond 120 days but we were close to 4 months late at one point."Josh Mardikian manages South Central Grain in Sterling.Mardikian ...
    It's been an ongoing issue in the ag industry for months.Train Delays.In fact, grain elevators are more than 3-thousand cars behind schedule.Ag Reporter Sarah Heinrich checks in on the situation to see if wait times are improving. It's a scene that's been the same for months.Empty tracks.(Josh Mardikian / South Central Grain, Sterling) "I don't think we got beyond 120 days but we were close to 4 months late at one point."Josh Mardikian manages South Central Grain in Sterling.Mardikian ...
Quick Clicks
Closings/Delays
View list
Calendar
What's happening?
Lottery Results
Feeling lucky?
Viewer Photos
Submit yours!
Road Report
Current conditions
TV Listings
See what's on
Gas Prices
Check near you
E-Mail Newsletter
Signup now

Most Popular

Stories
Videos
loading...
Powered by WorldNow
General information or questions:
kxinfo@kxnet.com

News:
Bismarck:
Phone: 701-223-9197
News Fax: 701-223-1985

News:
Minot:
Phone: 701-852-2104
News Fax: 701-838-1050
All content © Copyright 2000 - 2014 WorldNow and KXNET. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.