The head of Utah's state trust lands administration is stepping down after a dozen years steering the agency that earns money for public schools.
For the 12 years Kevin Carter has run the School and Institutional Trust Lands Administration, the fund has grown by $1.3 billion. His last day was Thursday.
The administration manages 3.4 million acres of land remaining from a statehood grant. The agency makes money from the lands through oil and gas leases and real-estate deals. The revenues are put in public school trust funds.
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The Deseret News reports that Carter's term dovetailed with a flourishing real estate market and oil and natural gas production on lands, both of which paid off for schools.