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Lifetime Fish and Wildlife Trust Fund
Game and Fish Fund
Fiscal Year 2016 Annual Report
Creation and Purpose of the Account
The lifetime Fish and Wildlife Trust Fund account was established as a fund in the state treasury by the legislator in 2000. (M.S. 97A.4742)
Sources and Uses of the Funds
All money received from the issuance of lifetime angling, spearing, angling and spearing, small game hunting, deer hunting, sporting, and sporting with spearing option licenses and earnings on the fund shall be credited to the Lifetime Fish and Wildlife Trust Fund.
Money in the Lifetime Fish and Wildlife Trust Fund shall be invested by the State Investment Board to secure the maximum return consistent with the maintenance of the perpetuity of the fund. The income received and accruing from investments of the fund shall be deposited in the Lifetime Fish and Wildlife Trust Fund. Each year the commissioner of management and budget shall transfer from the Lifetime Fish and Wildlife Trust Fund to the game and fish fund an amount equal to the amount that would otherwise have been collected from annual license fees for each lifetime license.
Account Analysis
Lifetime license sales increased in fiscal years 2012 and 2013 before the price increases took effect. Sales then declined after the price increases. After a low year in fiscal year 2014, sales are now starting to increase. The Lifetime License Activation cost is listed as negative revenue. The amount of the Lifetime license activation transfers-out will increase each year due to the increased number of Lifetime license activations as the number of Lifetime license holders increase each year. The fund balance will continue to increase until the amount of the activation transfers-out exceeds the amount of new licenses sold. The net sales (license sales less activation transfers-out) are projected to trend downward starting in fiscal year 2017.
