While at the RMBS booth last week in Reno, the Executive Director of the New Mexico Council of Guides and Outfitters saw me buying raffle tickets for my soon to be statewide Colorado bighorn tag. She asked if I would come over to her booth and talk to her, as she and many of her members had listed to the podcast with
@abqbw and Jesse Duebel. So, after buying what I am sure will be one of the winning tickets, I moved the adjacent booth to listen.
She gave me her view and the view of her organization as to the New Mexico EPLUS program. We had a friendly conversation of the role and duty of public trustees, who are the beneficiaries of the New Mexico wildlife held in trust, and the standing of citizens as equal beneficiaries. Very similar to other discussions I've had with her counterparts in other states, with the same economic points being made.
She asked if I would entertain having her and one of her members on the podcast for a different perspective. I told her I would think about it. And I am thinking about it. Here is why I would consider it.
The Public Trust Doctrine and all of its facets gets manipulated to rationalize some rather interesting programs, often under the guise that have nothing to do with Public Trust assets. The understanding of how a Trust works, whether a Private Trust or a Public Trust, seems to have a lot of confusion. The basic components of any Trust are:
Grantor - founder of the Trust.
Trustee - manager of Trust assets for the Beneficiaries.
Corpus - the Trust assets managed by the Trustee.
Beneficiaries - those for whom Trust assets are managed, both current Beneficiaries and future Beneficiaries.
Trust Document - the laws and regulations that define how the Trustee must operate and what rights the Beneficiaries have.
These discussions are really about the roles, duties, and responsibilities of the Trustees of the Public Trust of Wildlife.
- Are they accountable to the Beneficiaries in a transparent manner?
- Do they show impartiality and independence in their actions?
- Do they treat all Beneficiaries equally?
- Do they avoid self-dealing?
- Do they make reasonable and prudent decisions in managing Trust assets?
- Are they using best information and rely on outside experts for their decisions (biologists and scientists)?
- Do they provide an annual accounting of their performance?
- Do they manage Trust assets with adequate consideration for the future Beneficiaries (as Roosevelt would say, "for those yet unborn")?
That is what I focused on when I did the podcast with Brandon and Jesse. Both sides making the claims for/against EPLUS need to analyze these aspects of Trustee duty and responsibility in claiming that the current actions of the Trustees are improper.
Here's an easy example I use for people not familiar with Trusts. Wyoming raises $12million+ per year selling preference points to non-residents. As much as I dislike point systems, a Wyoming Trustee would be sued into oblivion if they refused to do what Wyoming currently does with points. Here's why.
The Trustee looks at that through this lens - I am presented with a program that generates $12million for my Trust. It has very low administrative and overhead costs. It imposes no additional impact (harvest) on my Trust Corpus (herds). The revenue to the Trust is almost all from folks who are not Beneficiaries (non-residents).
Image if a Wyoming Trustee voted to stop a program as explained above. Wyoming residents, Trust beneficiaries, would/should raise hell if a Trustee got rid of a deal that is so good for the Wyoming Public Trust of Wildlife.
Point being, there are things a prudent Trustee must do, and must not do, even if we/I/you have a personal dislike for that action or policy taken/adopted by the Trustee.
Let's take that Wyoming example that is so easy to see and apply it to the New Mexico EPLUS that is the subject of this thread.
Q: Can the New Mexico Trustees show that the current EPLUS is a net benefit/detriment to the Wildlife Trust of New Mexico?
That is the question a Trustee should pose to themselves when evaluating the current EPLUS program. They must compare what the state of the Trust would be if EPLUS disappeared, stayed the same, or it was enhanced from where it is today.
Opposing sides of the program would need to present a case to the Trustees as to why the program should be eliminated, left as is, or expanded. Such case would need to appeal to the manner in which Trustees must arrive at their decisions. Claims that it helps create jobs, that it brings in tourism dollars, that it represents privatization, all might be valid, but the Trustee must evaluate if the claims are even a consideration in the Trustee's decision.
As a Public Trustee of Wildlife, there is no duty to provide jobs with that wildlife asset, absent other compelling benefits to the Trust. As a Public Trustee, there is no duty to bring tourism dollars to the states, absent other compelling benefits to the Trust. That is why we have Chambers of Commerce and Tourism agencies. Now, if it helps with license sales and P-R matching, the Trustee must give it consideration.
Likewise, there is no prohibition to working with private parties under programs that might be a net benefit to the Trust and the Beneficiaries, even if there are claims of privatization. Example - If a non-resident landowner provided public access to 500,000 acres and guaranteed to maintain an elk herd of 3,000 animals, in exchange for 3 bull tags, the Trustee would likely get sued for turning down a deal such as that. It would clearly be in the best interest of the Trust and the Beneficiaries. Yet, it would involve a private party, so there could be claims of "privatization" of those 3 bull tags. Yes, an extreme example unlikely to happen in NM, but serves to illustrate that working with private parties is not prohibited, so long as a Trustee can do so in a prudent manner and demonstrate the benefit to the Trust/Beneficiaries.
The paragraph above shows that in many of these discussions it is not the program or the action, but the degree to which the program gets leveraged beyond any net benefit to the Trust/Beneficiaries. Many of our Trustees have no idea they are a Public Trustee. And many Trustees who have heard the concept only think of it in the abstract and not as a directive to guide their actions and decisions. We need to do a better job of informing them and holding them to the Fiduciary standards they agreed to, often unknowingly, when they were appointed/elected/hired.
Without data, support, research, and expertise, any of the arguments are hard for a Trustee to sort through. And to my knowledge, there is not much, if any data, that shows how the EPLUS program benefits/harms the New Mexico Public Trust. Such data would surely be helpful.
If I do invite the New Mexico outfitter groups on the podcast, I suspect that as the host I will be need to keep the discussion focused on these Public Trust concepts.