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The Washington state Board of Natural Resources has unanimously approved an increase in Department of Natural Resources (DNR) rates to manage state trust lands, a news release from the state agency announced this week.
The increase is estimated to generate $4.2 million to support DNR’s management of state trust and state forest lands.
“This is a difficult but necessary decision to ensure stability for DNR — increases in costs and flat timber prices have created a structural management problem that must be addressed. This is the right thing to do for our beneficiaries in the long term,” Commissioner of Public Lands Dave Upthegrove stated in the release.
“We need to ensure the public lands we manage are on the right course for the future, and this approval is an important step in providing long-term financial stability.”
The board approved two resolutions to increase the Resource Management Cost Account (RMCA) rate from 31% to 32% and the Forest Development Account (FDA) rate from 25% to 27%.
The increases would generate an additional $2.2 million and $2.0 million for each account, respectively.
The FDA account management rate has not been raised since 2013. The RMCA account rate was last raised in 2015.
DNR assesses these rates to manage state lands and state forestlands. The rate is retained from the gross revenue generated on these lands for the beneficiaries. Management of these lands provides revenue for education and state and local services such as K-12 education, universities, and support for critical local services.
DNR manages more than 2 million acres of forested state trust lands for long-term timber production, specific habitat objectives, protection of clean water and recreation.
DNR also manages hundreds of thousands of acres of state forest lands that help fund services in many counties and contribute to the state general fund, earmarked for education, the news release stated.
