November 2018 Committee on School Finance/Permanent School Fund Item 7
November 2018 Committee on School Finance/Permanent School Fund Item 7
An Overview of the Permanent School Fund
November 16, 2018
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: ACTION
STATE BOARD OF EDUCATION: CONSENT
SUMMARY: This item provides the opportunity for the committee and board to discuss an overview of the combined assets of the Permanent School Fund including both the assets managed by the State Board of Education and the School Land Board.
STATUTORY AUTHORITY: Texas Constitution, Article VII, §S(f).
PREVIOUS BOARD ACTION: None
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: None
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: None
PUBLIC COMMENTS: None
OTHER COMMENTS AND RELATED ISSUES: None.
Staff Members Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer
of the Permanent School Fund
November 16, 2018
COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: ACTION
STATE BOARD OF EDUCATION: CONSENT
SUMMARY: This item provides the opportunity for the committee and board to discuss an overview of the combined assets of the Permanent School Fund including both the assets managed by the State Board of Education and the School Land Board.
STATUTORY AUTHORITY: Texas Constitution, Article VII, §S(f).
PREVIOUS BOARD ACTION: None
BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: None
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: None
PUBLIC COMMENTS: None
OTHER COMMENTS AND RELATED ISSUES: None.
Staff Members Responsible:
Holland Timmins, Executive Administrator
and Chief Investment Officer
of the Permanent School Fund