June 2017 Committee on School Finance Permanent School Fund Item 11

Review of the Permanent School Fund Administrative Budget

June 22, 2017

COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: DISCUSSION
STATE BOARD OF EDUCATION: NO ACTION


SUMMARY: This item provides an opportunity for the committee to receive an update on the Permanent School Fund Administrative Budget as appropriated in the General Appropriations Act (GAA).

PREVIOUS BOARD ACTION:
None.

BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: Not applicable.

FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be $2.1 billion during the 2016-2017 biennium.

PROCEDURAL AND REPORTING IMPLICATIONS:
Not applicable.

PUBLIC AND STUDENT BENEFIT: The distribution of the Permanent School Fund will flow to the school districts and reduce the tax burden to the public and the state of Texas.

PUBLIC PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.

PUBLIC COMMENTS: None.

OTHER COMMENTS AND RELATED ISSUES: None.

Staff Member Responsible:

Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund