April 2018 Committee on School Finance/Permanent School Fund Item 10
April 2018 Committee on School Finance/Permanent School Fund Item 10
Review of Permanent School Fund Benchmarks
April 13, 2018
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: ACTION
STATE BOARD OF EDUCATION: CONSENT
SUMMARY: This item provides an opportunity for the committee and board to review the Permanent School Fund benchmarks. The actions may include amendment to the Investment Procedures Manual.
STATUTORY AUTHORITY: Texas Constitution, Article VII, §5(f).
PREVIOUS BOARD ACTION: At the June 2017 meeting, the board approved name changes to the Permanent School Fund Benchmarks.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: Not applicable.
FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be
$2.5 billion during the 2018-2019 biennium.
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.
PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC COMMENTS: None.
ALTERNATIVES: None.
OTHER COMMENTS AND RELATED ISSUES: None.
Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund
April 13, 2018
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: ACTION
STATE BOARD OF EDUCATION: CONSENT
SUMMARY: This item provides an opportunity for the committee and board to review the Permanent School Fund benchmarks. The actions may include amendment to the Investment Procedures Manual.
STATUTORY AUTHORITY: Texas Constitution, Article VII, §5(f).
PREVIOUS BOARD ACTION: At the June 2017 meeting, the board approved name changes to the Permanent School Fund Benchmarks.
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: Not applicable.
FISCAL IMPACT: The distribution of the Permanent School Fund is projected to be
$2.5 billion during the 2018-2019 biennium.
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.
PROCEDURAL AND REPORTING IMPLICATIONS: Not applicable.
PUBLIC COMMENTS: None.
ALTERNATIVES: None.
OTHER COMMENTS AND RELATED ISSUES: None.
Staff Member Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer of the
Texas Permanent School Fund