Smokers Getting More Help To Kick The Habit

OKLAHOMA CITY (AP) _ An extra $3.5 million will be available this year to help Oklahomans kick the smoking habit. The Oklahoma Tobacco Settlement Endowment Trust Fund Board of Investors on Wednesday

Wednesday, August 15th 2007, 12:15 pm

By: News On 6

OKLAHOMA CITY (AP) _ An extra $3.5 million will be available this year to help Oklahomans kick the smoking habit. The Oklahoma Tobacco Settlement Endowment Trust Fund Board of Investors on Wednesday certified $10.3 million in investment income for use in combating tobacco addiction.

``This certification reflects a more than $3.5 million or a 52% increase over the funds made available last year from investment of Oklahoma's share of the National Tobacco Settlement,'' state Treasurer Scott Meacham said.

The $10.3 million represents dividends and interest earned after investment fees are paid.

Earnings from the fund are growing because of two changes the board adopted at Meacham's recommendation.

First, Meacham renegotiated investment contracts to lower the fees paid. Next, the portfolio was reallocated to generate additional certified earnings while protecting the value of the fund, the treasurer said.

An extra $14 million is expected to be added to the earnings during the next five years because of the changes.

Oklahoma is the only state with a constitutionally protected endowment to fund programs that will reduce tobacco use and improve the health of Oklahomans.

Voters approved creation of the endowment in 2000. Since its inception, more than $30 million in earning has been generated by the board of investors.