Josh Kaul

The meeting commenced with the call to order. Key discussions included the approval of State Trust Fund Loans, specifically a $700,000.00 loan to the Town of Phelps in Vilas County for the purchase of a firetruck. The Executive Secretary provided a report on budget work and plans for visiting the northern office. The Board Chair reported on weekly check-ins regarding agency priorities and budget, expressing satisfaction with the progress made. Future agenda items and old business were noted as none.

The primary agenda items included the approval of loans for four community projects across Wisconsin, totaling $5,096,714.00. These loans finance roadwork, a solar project, a storm sewer project, infrastructure for a subdivision, and land purchase for a public safety building. The Chief Investment Officer presented the Quarterly Investment Report, emphasizing the significant, stable, and sustainable distributions achieved for school trust funds, noting a record $73.5 million library aid distribution for 2026. Discussion followed regarding the smoothing fund surplus and the sufficiency of the 50% minimum requirement given current portfolio diversification, which includes growth in private debt, common stock, and venture capital portfolios. The Executive Secretary reported on ongoing staff meetings and progress with the Pigeon Lake land transaction, while the Board Chair announced the upcoming Common School Fund library aid distribution event.

The agenda for the meeting includes routine business items such as the Chief Investment Officer's Report, Executive Secretary's Report, and Board Chair's Report, along with discussing future agenda items. New business and old business sections are currently noted as having no items. The agenda also lists loan approvals, which are detailed further in supporting documents related to the March 2, 2026 meeting.

The February 17, 2026 meeting agenda included routine business items such as the call to order, approval of minutes from February 3, 2026, and loan approvals. Other routine items involved reports from the Chief Investment Officer, Executive Secretary, and Board Chair, along with discussion of future agenda items. The Chief Investment Officer's report detailed the significant, stable, and sustainable performance of the trust assets, noting a record library aid distribution of $73.5 million for 2026. Discussions also covered the smoothing fund policy and the need to potentially adjust the 50% minimum requirement given current portfolio diversification and growth, particularly in private debt, common stock, and venture capital. The Executive Secretary provided updates on staff meetings and the ongoing Pigeon Lake land transaction requiring an additional appraisal. The Board Chair announced attendance at the upcoming Common School Fund library aid distribution event.

The meeting commenced with the call to order and a welcome to the new Executive Secretary, Tia Nelson. The board approved loans totaling $415,722.50 for three community projects in Wisconsin: financing the purchase of a firetruck for the Town of Namakagon, a dump truck for the Town of Phelps, and a highway truck for the Town of Concord. New business involved the discussion and subsequent approval of a resolution granting We Energies an easement for a power line adjacent to Highway 55, which staff determined would result in a nominal fee of $500, potentially increasing the value of adjacent parcels. The Executive Secretary reported on onboarding progress, including triaging priority files and planning for upcoming events related to the record-breaking library school aid distribution. The Board Chair detailed upcoming events to announce the aid distribution: a press conference on February 4th and the WEMTA Conference on March 3rd.