North Dakota

Study recommends shifting state dollars away from Bank of North Dakota

Published

1 year ago

September 18, 2024

Study recommends shifting state dollars away from Bank of North Dakota

BISMARCK — A cash management study presented to lawmakers on Tuesday, Sept. 17, recommends shifting state money away from the Bank of North Dakota to increase returns for state government.

The state keeps most of its operating funding at the Bank of North Dakota, the nation’s only state-owned bank. A consultant’s report found that this relationship could be harming both parties, but it was met with criticism during a meeting of the Legislature’s Government Finance Committee.

The report, prepared by consulting firm RVK Inc., likened the state to a “captive client” to the bank and reasoned that state agencies are subsidizing the bank’s income by accepting lower returns on their assets.

At the same time, this relationship also puts pressure on the Bank of North “to return dividends to the general fund,” said RVK senior consultant Josh Kevan.

The consulting firm proposed removing the state’s funds from the Bank of North Dakota and having state agencies take over some of the cash management duties currently performed by the bank.

“That is in no way a recommendation to seize the operations of Bank of North Dakota,” Kevan said. “We assume that that continues to be a valuable part of your state’s infrastructure, but we do recommend exploring other ways to finance the bank’s balance sheet.”

The firm estimated that implementing its recommendations would bring the state an additional $9.5 billion over the next two decades.

The report’s findings drew skepticism and ire from legislators and some members of the banking community, who fear moving the money could hurt the Bank of North Dakota and other financial institutions in the state.

Many questioned how the state would replace the funding if North Dakota were to move forward with the firm’s recommendations.

Kevan said that this was beyond the scope of the report.

Susan Sisk, director of the Office of Management and Budget, said the study’s steering committee recommends that lawmakers authorize an additional study that would research options for how the state could replace the Bank of North Dakota’s capital if the state’s operating funds were moved elsewhere.

Sisk told lawmakers that the steering estimates such a study would cost between $300,000 and $400,000.

The study presented on Tuesday cost $395,000, not including travel costs, according to the Office of Management and Budget.

Bank of North Dakota CEO Don Morgan, who has led the bank for roughly a month, said he doesn’t yet have a position on the recommendations.

Don Morgan, CEO of the Bank of North Dakota, speaks following a presentation on a study that recommended the state remove its operating funds from the bank. Morgan told lawmakers during the Tuesday, Sept. 17, 2024, Government Finance Committee meeting he did not yet have a position on the study’s findings.

Mary Steurer / North Dakota Monitor

“This could be a really sound business idea,” he told the committee. “It really could, or it could not. At this point in time, for me, a key point is just not enough information.”

Alexis Baxley, president of the Independent Community Banks of North Dakota, said the association opposed the recommendations because members viewed them as an affront to the Bank of North Dakota’s mission.

“I think that removing the funding from the Bank of North Dakota would have a devastating impact on all of the rural communities,” said Sarah Getzlaff, CEO of Security First Bank of North Dakota.

Several people remarked during the meeting that they hadn’t had time to digest the report, since it was only made public a day ahead of the committee meeting.

Implementing the changes would require significant changes to state law, Kevan acknowledged.

Gov. Doug Burgum has advocated for a cash management study, highlighting that North Dakota could be earning higher returns for its rainy-day funds. The North Dakota Industrial Commission, led by the governor, oversees the Bank of North Dakota.

This story was originally published on NorthDakotaMonitor.com

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North Dakota

Today in History, 1943: 2 North Dakota men die in separate Army plane crashes

Published

8 hours ago

March 2, 2026

Press Room

Today in History, 1943: 2 North Dakota men die in separate Army plane crashes

On this day in 1943, two North Dakota army officers, Second Lieut. Arthur B. Kuntz and First Lieut. Bernard A. Anderson, were killed in separate medium bomber training crashes in Florida and Georgia.

Here is the complete story as it appeared in the paper that day:

Army Plane Crashes Kill Two N. D. Men

Two North Dakota officers in the army air forces were killed Sunday in bomber crashes during training flights, Associated Press dispatches revealed Monday.

Second Lieut. Arthur B. Kuntz of Harvey (Wells county) was killed with 10 others from the Avon Park, Fla., army bomber base when two medium bombers collided during a routine formation flight. Both planes crashed and there were no survivors.

First Lieut. Bernard A. Anderson of Warwick (Benson county) was one of six killed when a medium bomber from MacDill field, Tampa, Fla., crashed near Savannah, Ga. Lieutenant Anderson was co-pilot of the plane.

None of the other victims of either accident was from the Dakotas or Minnesota.

Lieutenant Kuntz, son of Mr. and Mrs. Roy Kuntz of Harvey, was graduated from the army air force navigation school at Hondo, Texas, as a second lieutenant last October, and received his wings as a navigator.

See more history at Newspapers.com

An ad featured in The Forum on March 2, 1943. Newspapers.com

Kate Almquist is the social media manager for InForum. After working as an intern, she joined The Forum full time starting in January 2022. Readers can reach her at kalmquist@forumcomm.com.

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North Dakota

Presidential Searches at 3 North Dakota Colleges Narrowing

Published

20 hours ago

March 1, 2026

Press Room

Presidential Searches at 3 North Dakota Colleges Narrowing

(Michael Achterling/North Dakota Monitor)

(North Dakota Monitor) – Two North Dakotans are semifinalists for the Bismarck State College president’s job as North Dakota State University narrows its presidential candidate list.

Valley City State University also is searching for a new president, with an application period closing this month..

Kevin Black, chair of the State Board of Higher Education and co-chair of the North Dakota State University Presidential Search Committee, said the committee reviewed over 60 applications. The committee is planning off-site interviews with candidates March 9-10 and campus visits with semifinal candidates March 23-27.

“We’re really excited about taking the next step and there’s some very quality people in there,” Black said.

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North Dakota

After falling short a year ago, West Fargo United wins ND girls hockey state title

Published

1 day ago

March 1, 2026

Press Room

After falling short a year ago, West Fargo United wins ND girls hockey state title

FARGO — One season ago, a Cinderella run for the West Fargo United girls hockey team came up just short in the state championship game.

United, the No. 7 seed, fell to Legacy/Bismarck in the 2025 final.

This time around, the team had momentum swaying in its favor, riding nine consecutive wins into Saturday’s title game against Grand Forks at Scheels Arena.

Led by goals from a pair of senior captains, United capped its redemption season with a 10th straight victory, fending off the KnightRiders 2-1 to claim the North Dakota girls hockey state tournament championship.

“It just means everything,” said United’s Payton Stocker, whose goal at the 12:31 mark of the second period gave her team a 1-0 lead. “We’ve worked so hard and throughout the season, it’s just been such a battle. Winning and coming out on top is just such a great feeling.”

West Fargo United captains react as they are presented the team’s 2026 state championship hockey trophy after defeating Grand Forks on Saturday, Feb. 28, 2026, at Scheels Arena in Fargo.

Eric Hylden / Grand Forks Herald

Stocker was followed up in scoring by United captain Rachel Spanier. The defenseman fired a slap shot from the left point that beat Grand Forks goaltender Kylie Schmaltz to make it 2-0 with 35 seconds remaining in the middle frame.

Reagan Wilson locked things down in net for United, finishing with 23 saves and picking up an all-tournament team nod.

“This is my first year of high school hockey,” the sophomore goaltender said. “I can’t believe coming in here and winning a state title with all of these girls. I just love them so much.”

While it was the senior duo of Stocker and Spanier finding the net for United on Saturday, contributions were seen across the board.

Sophomore Emma Hassler also put forth an all-tournament campaign with five goals and an assist for six points over the three-day stretch.

030226 WFGOUnited3.jpg — Grand Forks’ Dustee Balek’s shot is blocked by West Fargo United goalie Reagan Wilson in the North Dakota girls hockey state championship game on Saturday, Feb. 28, 2026, at Scheels Arena.

Freshman Kaylee Augdahl finished the tournament with four points — including

a double-overtime winner

over Fargo North/South in Friday’s semifinals — and junior Liana Williamson added three assists.

“It wasn’t just us (seniors),” said Stocker, who joined Hassler and Wilson on the all-tourney team. “It was everyone collectively. Being seniors, it feels a lot better. It was a great feeling.”

United, the No. 5 seed this year, capped its season with a record of 17-9-0.

“These girls are awesome,” first-year United head coach Kennedy Blair said. “They’ve worked super, super hard since last April. Wake up early in the mornings, go into off-ice training, on-ice training and all that.

“This group of girls is really special. They’re a really close-knit group, and they trusted our coaching staff coming in as a first-year group.”

030226 WFGOUnited2.jpg — West Fargo United players pose for the camera as they wait for the 2026 state championship hockey trophy after defeating Grand Forks on Saturday, Feb. 28, 2026, at Scheels Arena.

Blair knows a thing or two about winning championships. She was a North Dakota state champion goaltender with the former Bismarck Blizzard co-op and also won an NCAA Division I national title with the Wisconsin women’s program in 2021.

Yet, she never imagined ending her first year as a high school varsity coach with a state championship.

“No, I didn’t,” said Blair, who also won North Dakota High School Coaches Association Coach of the Year honors. “But I had belief in these girls that we could get to the state championship again.”

It’s the United co-op’s first-ever state title — which consists of West Fargo, West Fargo Sheyenne and West Fargo Horace high schools.

Prior to Saturday, the last time a West Fargo girls program won the state title was in 2014 when it was still a standalone program competing as the Packers.

“It’s amazing considering United hockey has never won a championship game,” Wilson said.

Grand Forks, the tournament’s No. 2 seed, ended its campaign with a 21-5-0 record.

Ella Yahna’s fourth goal of the tournament — which came on a 2-on-1 rush with the assist from teammate Reese Meagher, put the KnightRiders within one shot with 8:17 remaining in the third.

Grand Forks, however, was unable to find the equalizer as its bid for a first state championship came up just short.

“I thought we came out in the first and we had a tough time,” Grand Forks head coach Kelly Kilgore said. “I felt we battled some nerves. I really liked our second period … We carried the play and tilted the ice a little bit back in our favor. The shots kind of started to really turn in our favor.”

Stocker said she wouldn’t have wanted to win a state title as a senior with any other group of teammates.

“(They mean) everything,” Stocker said. “We’re so tight and they’re all my friends. Leaving them is going to be hard. But they mean everything to me. We’re all so close and I love them a lot.”