OKLAHOMA CITY – State Treasurer Ken Miller today announced the appointment of Tulsa businessman Don Millican to the Board of Directors of the Oklahoma Tobacco Settlement Endowment Trust.
“I am pleased to appoint Don to this important board,” Miller said. “With his history of philanthropic work in the Tulsa area, I know Don will help the board in fulfilling its mission.”
Millican is Chief Financial Officer at Kaiser-Francis Oil Company in Tulsa. He serves on the boards of Tulsa Educare, Inc., which provides early education for at-risk children, and Neighbor for Neighbor, which operates a free health clinic in North Tulsa. Millican is also chairman of the board of Oklahoma Christian University. He previously served on the board of the Community Action Project of Tulsa County, which works to break the cycle of poverty through early childhood education.
Millican said he is honored to be chosen for the position. “I look forward to serving the state in the effort to reduce tobacco consumption and to improve the overall health of our citizens,” he said.
Millican will serve a seven-year term, expiring in July 2019. He replaces W.R. “Bill” Lissau, whose term expired. The constitution requires the composition of the board of directors be balanced by political party and by congressional district. Millican is a Republican and resident of the First Congressional District.
Members of the board of directors are appointed one each by the governor, attorney general, state superintendent, state auditor, House speaker, Senate president pro tempore and treasurer.
Created by constitutional amendment in 2000, the seven-member board of directors is responsible for directing the earnings from the endowment trust to fund programs to improve the health and well-being of all Oklahoman. The endowment is funded with 75 percent of Oklahoma’s annual tobacco settlement payment. Management of the fund is overseen by a board of investors chaired by Treasurer Miller.
Since inception, almost $118 million in earnings have been certified for use by the board of directors. More than $36 million in earnings were certified last year. The fund has a balance of more than $710 million.
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For more information contact:
Tim Allen, Deputy Treasurer for Communications & Program Administration