LEQTF Grants Benefit Louisiana

BATON ROUGE, LA – Education in Louisiana got a $55 million boost this year from Louisiana Education Quality Trust Fund (LEQTF) teaching and research grants, announced State Treasurer John Kennedy.

The LEQTF is one of the biggest hidden success stories in state government, said Treasurer Kennedy. Because of the prudent investments made by the Department of the Treasury, we have almost $300 million more in the fund now than when it first began, and were confident that it will continue to grow for Louisiana schools.

The Louisiana Legislature and voters established the LEQTF in 1986 with $541 million in offshore oil and gas revenues from a settlement with the federal government. The Louisiana Department of the Treasury invests the assets of the fund, which have reached $832 million, and distributes its earnings between the Board of Regents and Board of Elementary and Secondary Education(BESE) for projects.

One of the great things about the LEQTF is that it doesn’t benefit just one grade, one type of project or one area of research, said Treasurer Kennedy. Grant recipients range from first-graders making pottery to college professors researching for NASA.

Over the life of the fund, earnings from the LEQTF have provided $724 million to the Board of Regents and BESE. This year, LEQTF grants helped schools in Bossier and St. Tammany parishes expand technology and computer programs. Grants also helped New Orleans public schools improve students peer relationships, self-esteem and learning. Schools in Jackson, Jefferson, LaSalle and East Baton Rouge parishes used grant money to teach students various art techniques.

Louisiana universities also benefited from the LEQTF this year. Funds paid for 58 research and development grants, 36 graduate fellows grants, 170 enhancement grants, 11 chairs and 76 professorships in the state.

For a complete list of educational projects benefiting from LEQTF grants or to receive a copy of the Louisiana Department of the Treasury’s 2000 LEQTF Annual Report, contact (225) 342-0010.

Contact:
Sarah Mulhearn, Communication Director
(225) 342-0012