Activities Related to a Student Art Competition to Develop a Permanent School Fund Logo

November 16, 2018

COMMITTEE ON SCHOOL FINANCE/PERMANENT SCHOOL FUND: ACTION
STATE BOARD OF EDUCATION: ACTION

SUMMARY: This item provides the opportunity for the committee and board to select winning entries in the student art competition to create a Permanent School Fund logo.

STATUTORY AUTHORITY: Texas Constitution, Article VII, §5(f) and Texas Education Code (TEC), §7.102(c)(3).

Texas Constitution, Article VII, §5(f) gives the State Board of Education the authority to manage the assets of the Permanent School Fund.

Texas Education Code (TEC), §7.102(c)(3) allows the board to accept donations and to use the contributions in a manner determined by the board.

PREVIOUS BOARD ACTION: At the September 2018 meeting, the board provided an update on contest preparations and research activities into the history of the Permanent School Fund.

BACKGROUND INFORMATION AND SIGNIFICANT ISSUES: The Permanent School Fund was created by the Texas Legislature in the early days of statehood, signaling the importance the state places on education. Today, the Fund is the country’s largest educational endowment. The board oversees about $34 billion in assets. However, the Fund has never had its own logo or brand identity. It has always used the Texas Education Agency logo or the state seal in branded material.

The board created a process in which public school students in grades 9-12 were allowed to submit logo design entries during the month of October. A panel of judges appointed by the State Board of Education chair was to review the entries based on creativity, design principles, scalability, transferability, and arrangement. The panel was to select up to 10 finalists to bring forward for board consideration at this meeting.

A winner and a runner-up are scheduled to be selected at this board meeting with a presentation of prizes to be made at the February 1 board meeting.

A replica of the winning design will be displayed at the Permanent School Fund’s headquarters and will be used on materials such as the annual report.

FISCAL IMPACT: Donations are being accepted to cover the cost of the cash awards to be presented to the contest winner and runner-up.

PUBLIC AND STUDENT BENEFIT: Texas students are allowed to demonstrate their artistic abilities.

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