- Associated Press - Friday, July 1, 2016

OKLAHOMA CITY (AP) - The state agency that oversees state lands for the benefit of public schools says it distributed a record $102 million to Oklahoma school districts during the most recent fiscal year.

Gov. Mary Fallin said Friday that the Commissioners of the Land Office passed the previous high of $97 million distributed to K-12 schools in 2015. Fallin chairs the commission.

The agency also distributed $32 million to Oklahoma colleges and universities during the fiscal year that ended Thursday.

Land office Secretary Harry Birdwell says the increased funds are largely due to diversifying the trust fund assets the agency manages.

State-appropriated funding to public schools in Oklahoma was cut by more than 2 percent this year amid a $1.3 billion budget gap. The cut to colleges and universities is nearly 16 percent.

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